Digital Camera Battery Market Forecasts to 2028 - Global Analysis By Type (Primary Battery and Secondary Battery), By Camera Type (Interchangeable Lens and Built-in Lens), By Battery Chemistry, By Application and By Geography

Digital Camera Battery Market Forecasts to 2028 - Global Analysis By Type (Primary Battery and Secondary Battery), By Camera Type (Interchangeable Lens and Built-in Lens), By Battery Chemistry, By Application and By Geography

According to Stratistics MRC, the Global Digital Camera Battery Market is accounted for $726.3 million in 2022 and is expected to reach $973.3 million by 2028 growing at a CAGR of 5.0% during the forecast period. Digital cameras, including DSLRs, compact cameras, mirrorless cameras, and others, are powered by batteries. Rechargeable lithium-ion batteries are frequently used with digital cameras. However, alternative chemistries are also frequently used to power digital cameras, including nickel metal hydride, nickel cadmium, zinc-carbon, alkaline, primary lithium, and nickel-zinc. Batteries made by several digital camera manufacturers are designed to power their particular models.

According to the Camera & Imaging Products Association, the global sales of digital cameras dropped by 93% in 2021 compared to 2011. According to Epec, LLC, Ni-MH batteries cost less than 50% of a lithium-ion battery for the final battery pack's production price.

Market Dynamics:

Driver:

Increasing demand for low-weight cameras

The demand for digital cameras is primarily being driven by the growing use of high-speed cameras in the entertainment, media, and sports industries. The popularity of action photography has increased demand for lightweight digital cameras. The rise of social media platforms like Instagram has expanded the market for photography among users all over the world, and many of them snap pictures using professional digital cameras to publish to the app rather than just using their phones. In general, light cameras are used for simple photo capture. It is projected that the adoption of low-weight batteries in digital cameras will be fueled by the expanding technological advancements in this field.

Restraint:

Industry growth affected on account of declining digital camera sales

Sales of digital cameras have been dropping globally during the forecast period. Over the past few years, major digital camera manufacturers have witnessed a fall in their inconsistent sales. The Camera & Imaging Products Association estimates that, in comparison to 2011, global sales of digital cameras dropped by 93% in 2021. The improvement in smartphone cameras' quality is the main cause of this reduction. Smartphone cameras currently come with a variety of features, including computational photography and AI usage.

Opportunity:

Increasing consumer conscience to boost adoption of rechargeable batteries

Due to their higher energy efficiency, lower waste production, and ability to be recharged using basic chargers, secondary batteries are more popular among consumers, which is primarily driving the need for rechargeable secondary batteries. The performance of lithium-ion batteries has also improved due to increased R&D in material sciences, which has raised consumer demand for them. The trajectory of battery technology advancement has been uneven, with periods of stagnation alternating with notable advances. In fact, the concept of a battery-powered (wireless) gadget predates both computers and cable tools by decades.

Threat:

High expenses hindering the market growth

The heavy SLR digital camera body costs two to three times as much as a normal camera body. Low-end digital cameras currently compete with Instamatic cameras in terms of pricing. Additionally, it is considered that digital cameras aren't good. Moreover, technology is rapidly overcoming these limitations.

Covid-19 Impact:

The coronavirus pandemic has an impact on many people's way of living. They had to largely rely on working from home as a result of the epidemic to maintain social distance. There were less opportunities for people to use cameras for photography because they were confined in their residences and unable to travel or go on outings. Additionally, COVID-19 restrictions reduced the production ability of camera manufacturers. This had a significant impact on the market for digital cameras, which therefore had an impact on the sales of digital camera batteries.

The nickel metal hydride battery segment is expected to be the largest during the forecast period

The nickel metal hydride battery segment is expected to dominate the market during the forecast period as rechargeable Ni-MH batteries are used in two-way radios, cordless power tools, digital cameras, and cell phones. Moreover, Ni-MH produces high peak power, has a higher specific energy, uses less harmful metals, and has less of an impact on memory. It is also eco-friendly and has a deep discharge.

The interchangeable lens segment is expected to have the highest CAGR during the forecast period

As most digital cameras are powered by rechargeable batteries, the interchangeable lens camera segment is predicted to have the highest CAGR during the forecast period. These batteries are typically included with digital camera orders from OEMs or camera manufacturers. Furthermore, the Camera & Imaging Products Association estimates that 5,330,282 interchangeable lens cameras were produced globally in 2021, 2,216,698 of which were single-lens reflex cameras and 3,113,584 were mirrorless cameras.

Region with largest share:

Due to its rapid industrialization and urbanisation, the Asia-Pacific region dominated the global market and is expected to be the largest over the forecast period. Additionally, demand for digital cameras for social media use is increasing as a result of increased urbanisation and high internet penetration rates in this region. According to Internet World Stats, as of January 31st, 2021, over 50% of the world's internet users were located in the Asia Pacific region.

Region with highest CAGR:

During the projection period, the Middle East and Africa region is anticipated to have the highest CAGR. Lower lithium-ion battery costs and increased sales of portable electronics and digital cameras in the region are boosting the market. Additionally, the market in this region is expanding as a result of technological developments in the field of digital photography that prompted the development of more powerful and efficient camera batteries.

Key players in the market

Some of the key players in Digital Camera Battery market include Canon Inc, Nikon Corporation, SONY ELECTRONICS INC., Panasonic Corporation, Samsung, Duracell Inc., Energizer, Fujifilm, RICOH IMAGING COMPANY, LTD., OM Digital Solutions Corporation, Bower, Toshiba, Olympus, Phottix and Sigma.

Key Developments:

In July 2022, Ricoh Imaging Company, Ltd. announced the unveiling of the stand-alone model of the Ricoh Gr Iiix Urban Edition. The product was earlier available under the RICOH GR IIIx Urban Edition Special Limited Kit.

In May 2022, Ricoh Imaging Company, Ltd. announced the RICOH WG-80 digital compact camera launch. The camera is powered by a Rechargeable D-LI92 lithium-ion battery, with approximately 300 shots battery life for still applications, and approx. 260 min battery life for playback applications.

In April 2022, Ricoh and Ricoh Imaging announced that Ricoh won the if DESIGN AWARD 2022 for the RICOH GR IIIx, a digital camera by the company, in the “Product” category.

In December 2021, Samsung SDI announced that it launched its battery brand PRiMX. Samsung SDI is to promote the super-gap technology strategy by launching a brand that conveys the company’s identity.

In November 2021, Fujifilm launched the mirrorless digital camera, FUJIFILM X-T30 II. The device provides premium image quality while being lightweight and compact. It utilizes the NP-W126S Li-ion battery.

Types Covered:
• Primary Battery
• Secondary Battery

Camera Types Covered:
• Interchangeable Lens
• Built-in Lens

Battery Chemistries Covered:
• Nickel Metal Hydride Battery
• Lithium-ion Battery

Applications Covered:
• Pocket Camera
• SLR Cameras

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements