Digital Cameras - Sri Lanka | Statista Market Forecast

In 2024, the revenue in the Digital Cameras market in Sri Lanka amounts to US$31.2m.
It is projected to grow annually by 1.64% (CAGR 2024-2029).
When compared globally, the highest revenue is generated China, reaching US$6.1bn in 2024.
In terms of per person revenues, in Sri Lanka generates US$1.44 in 2024.
By 2029, the volume in the Digital Cameras market is expected to reach 224.8k pieces.
In 2025.0, the market is expected to experience a volume growth of 2.0%.
On average, each person in Sri Lanka is expected to have a volume of 0.0pieces in the Digital Cameras market in 2024.
Sri Lanka's digital camera market is witnessing a surge in demand due to the growing popularity of social media and an increasing number of vloggers and influencers.

Definition:

Digital cameras are electronic devices that capture images and videos in a digital format, as opposed to analog cameras that use film. They use an image sensor, such as a CCD or CMOS sensor, to convert light into electrical signals, which are then processed by the camera's processor and stored as a digital image file. Digital cameras come in a variety of sizes and styles, ranging from compact point-and-shoot cameras to professional-level DSLR (digital single-lens reflex) cameras, and can be used for a wide range of photography and videography purposes. Some digital cameras also offer advanced features such as manual control over exposure and focus, interchangeable lenses, and high-resolution image sensors.

Additional Information:

The market comprises revenue, average revenue per capita, volume, average volume per capita and price. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies such as Nikon, Canon and Sony. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

Professional and special purpose cameras (e.g. GoPro)
Polaroid cameras
Underwater cameras
Analog cameras

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.

In our digital era, how would we remember our best experiences, from admiring beautiful landscapes to tasting delicious food, if we did not have cameras to take pictures with? Whether a stand-alone device or incorporated in smartphones and tablets, cameras make up a considerable part of the consumer electronics industry, and one of the major device specifications. Today most consumers own a camera in some form. Although the increasing popularity of smartphones has led to less demand for stand-alone camera products, resulting in plummeting digital camera shipments reaching under eight million in 2023, a feeling of nostalgia spreading especially among Gen Z consumers seems to be bringing digital cameras back.