Allied Market Research published a report, titled, “Camera Accessories Market by Type (Lenses, Bags and Cases, Tripods, Batteries and Chargers, and Others), and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the camera accessories market was valued at $3.8 billion in 2023, and is estimated to reach $10.7 billion by 2033, growing at a CAGR of 11% from 2024 to 2033.
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Prime determinants of growth 
The market for camera accessories is mostly propelled by the rising demand for excellent photography and videography. The demand for sophisticated equipment including tripods, lenses, and lighting solutions has increased due to the growth of social media and content creation. The industry is growing due to technological developments such as smart features and wireless connectivity. Furthermore, there is a greater need for appropriate accessories due to the increasing popularity of mirrorless and DSLR cameras. However, the market experiences obstacles including high costs and the presence of counterfeit products. The increase in photographs taken with smartphones presents another risk. However, possibilities present themselves as the e-commerce industry grows, providing camera accessories to a wider range of consumers.
Report coverage & details:

Report Coverage   

Details               

Forecast Period     

2024–2033                      

Base Year           

2023

Market Size in 2023           

$3.8 billion          

Market Size in 2033

$10.7 billion

CAGR

11 %

No. of Pages in Report        

250

Segments Covered

Type, Distribution Channel, and Region.                       

Drivers              

Rise of Social Media and Content Creation
Advancements in Camera Technology
Growth in Professional Photography

Opportunities       

Expansion of E-commerce
Innovations in Product Offerings
Emerging Markets

Restraints

High Costs
Market Saturation
Economic Uncertainties

Segment Highlights
The market for camera accessories is expanding significantly, especially for tripods, as more people get interested in photography as a recreational activity and as a profession. Demand is being driven mostly by growing disposable income and technological developments in cameras, particularly DSLRs and mirrorless systems. Both amateur and professional photographers are in high demand for tripods since they are necessary for maintaining stability when taking pictures. The market is competitive, with leading companies launching innovative devices like Zhiyun and more recent brands like Joby, Gitzo, and Manfrotto. The increasing number of travel photographers and vloggers is being served by the trend toward lightweight and portable tripods. The expansion of e-commerce platforms has also made it simple for customers to access a variety of tripod solutions, which is propelling market growth.
The market for offline camera accessories is still growing, driven by professionals and enthusiasts who want to experience products before they buy them. Customers may try products like tripods, lenses, and lighting equipment in physical stores since they provide a hands-on experience. For individuals in need of professional guidance and real-time troubleshooting, the advantages of personalized customer service and instant availability are noteworthy. Large electronics companies and specialty camera stores predominate in this market, frequently holding community engagement events like workshops and demos. An additional special offline benefit is the ability to compare various brands and models directly. The offline sector continues despite the growth of e-commerce since photography and videography require high-quality equipment to be considered firsthand.
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Regional Outlook
Global market outlooks for camera accessories vary by region. Leading manufacturers have a significant presence in the North American market, which is fueled by technological advancements and a strong culture of photography. As a result of photography’s increasing popularity as a hobby and profession, Europe is seeing consistent growth. Owing to rising disposable income and a growing interest in photography and videography, the Asia Pacific region, especially China and Japan are expanding quickly. Growing consumer awareness and better economic conditions are increasing demand for camera accessories, and Latin America and the Middle East & Africa regions provide unexplored opportunities. Altogether, cultural influences, economic variables, and technological advancements are reflected in the market’s regional dynamics.
Players: –

Canon Inc.
Elite Brands Inc.
FUJIFILM Corp.
Hitachi Ltd.
JVCKENWOOD Corp.
Kinefinity Inc.
Miller Australia Pty Ltd.
Nikon Corp.
Olympus Corp.
Panasonic Holdings Corp.
Panavision Inc.
RED Digital Cinema LLC
Ricoh Co. Ltd.
Rollei GmbH and Co. KG.
SIGMA Corp.
Sony Group Corp.
The Vitec Group Plc
Transcend Information Inc.
Koninklijke Philips NV
Samsung Electronics Co. Ltd.

The report provides a detailed analysis of these key players in the global camera accessories market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Developments:

In October 2023, Manfrotto strengthened its presence in the Asia-Pacific professional photography industry by acquiring Lastolite, a firm that specializes in lighting management solutions. Manfrotto’s product line and market reach?grew as a result of this purchase.
In August 2023, Fujifilm aimed to cater to the increasing demand for travel and street photographers in the Asia-Pacific region by introducing a variety of innovative camera bags and protective accessories to its product portfolio. This addition is intended to meet the unique requirements of photographers who need high-quality, fashionable camera equipment.

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The post Camera Accessories Market to Reach $10.7 Billion, Globally, by 2033 at 11% CAGR: Allied Market Research appeared first on HIPTHER Alerts.

 
Stefan Vinberg, CEO of Insig AB, has been honoured with dual accolades at the 2024 Business Worldwide CEO Awards, receiving the esteemed ‘Sustainable Real Estate Leadership Award’ and the distinguished ‘Growth Strategy CEO of the Year – Sweden‘ recognition.
As with preceding years, this year’s CEO awards seek to recognise and honour the Most Respected C-level executives across the globe from a variety of different sectors. Instead of focusing on a company’s success, as many do, here the spotlight is on the success of individuals who make the corporations tick– namely senior executives such as CEOs, Managing Directors, Directors and senior-level management. The intention is to give a worthy individual the recognition he/she deserves as well as to use their example to inspire other companies and business leaders to achieve similar success.
Under Vinberg’s leadership, Insig AB has emerged as a trailblazer in the real estate sector, setting new benchmarks for sustainable development and growth. Based in Malmö, Sweden, Insig AB has rapidly expanded its footprint, focusing on the development, management, and new production of residential and commercial properties, primarily in the Skåne region. Vinberg’s leadership philosophy, rooted in innovation, sustainability, and social responsibility, has been instrumental in the company’s success.
Stefan Vinberg’s journey to becoming a leading figure in the real estate industry is marked by a diverse background and a deep commitment to fostering positive change. Beginning his leadership career in 1998, Vinberg has honed his skills across various sectors, including sales, marketing, telecommunications, and even youth football coaching. His experience as a football coach, where he led teams from the age of six to 19, profoundly influenced his leadership style, emphasising empowerment, teamwork, and independent problem-solving.
“Leadership is about guiding others to discover answers themselves,” Vinberg reflects. “It’s not about dictating actions but fostering a sense of ownership and pride within the team.”
Vinberg’s foray into the real estate industry in 2012 marked a significant turning point in his career. He brought his leadership expertise to project management, real estate development, and energy optimization, driving remarkable growth during his tenure at Signatur Fastigheter AB. Under his leadership, the company’s value soared from 2.5 million SEK to over 700 million SEK, a testament to his strategic vision and management acumen.
Following the acquisition of Signatur Fastigheter by a larger publicly traded company, Vinberg continued to focus on environmental sustainability and energy efficiency, transforming underperforming properties into valuable assets while prioritizing positive environmental and social impacts.
In May 2022, Vinberg co-founded Insig AB alongside former Signatur Fastigheter CEO Dan Astrén and co-founder Tomas Magnusson. As the CEO, Vinberg has led the company through economic uncertainties, leveraging his experience and innovative strategies to acquire undervalued assets and drive growth. His vision for Insig AB is ambitious: reaching 3 billion SEK in real estate value and going public within the next few years and significantly reducing the company’s environmental impact by 2030.
In an ever-evolving and challenging market landscape, Vinberg’s experience, creativity, and clear leadership have been crucial in steering Insig AB towards continued growth and success. His focus on innovation, sustainability, and team building positions Insig AB as a leader in the real estate industry, where economic growth harmonises with environmental and social responsibility.
For more information about Insig AB and Stefan Vinberg’s leadership journey, visit www.insig.se.
Further information about the Business Worldwide CEO Awards can be found at https://www.bwmonline.com/2024-ceo-awards-winners/
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Recently TECNO and MediaTek have officially unveiled their joint AI laboratory in Shenzhen, marking a new chapter in their collaboration in pushing the boundaries of innovations in AI. By integrating their respective leading technological resources in the field of artificial intelligence, the two companies aim to accelerate the application and popularization of AI technology in smart terminals, creating a smarter and more convenient mobile experience for users in global emerging markets. The launch event was attended by Mr. Shi Tuanwei, General Manager of the TECNO TEX AI Center, Ms. Liu Longzhi, Global Head of PR at TECNO, Dr. Lu Zhongli, Deputy General Manager of MediaTek’s Computing and AI Technology Business Unit, and Mr. Li Shaoding, Associate Director of MediaTek’s Wireless Product Software Development Department.
In recent years, smartphones have become a vital platform for AI applications due to their mobility, extensive user base, comprehensive application ecosystem, and powerful processing capabilities. The newly established AI joint laboratory will focus on innovative applications of large language models, intelligent agents, AI assistant, and imaging on mobile devices. It aims to provide more edge deployment and optimization solutions for generative AI, promoting the exploration and development of AI-powered services and mobile applications for the masses.
As a leading smartphone brand in emerging markets, TECNO continues to accelerate its AI technology deployment, exploring large models, connectivity technologies, AIGC imaging technologies, and AI voice assistant technology in many minority languages. TECNO’s AI vision is to create practical AI that seamlessly integrates into users’ daily lives. Its innovative AI assistant, Ella, serves as a smart companion, helping users manage daily tasks efficiently and providing diverse support from intelligent Q&A and schedule planning to photo editing. Ella’s main features, such as AI writing, translation, and search, are deeply integrated with localized language recognition and local life applications, making it a comprehensive intelligent assistant for users in emerging markets worldwide.
In this collaboration, TECNO will leverage its extensive experience in the smartphone industry in emerging markets, unparalleled insights into local life scenarios, and AI technological advantages to provide robust algorithm and application support for the laboratory. Meanwhile, MediaTek will use its leading chip design capabilities and powerful computing platform to drive the efficient operation of AI algorithms, jointly promoting innovation and breakthroughs in edge AI technology.
Mr. Shi Tuanwei, General Manager of the TECNO TEX AI Center, stated, “AI technology is leading the wave of technological development over the next twenty years, bringing a new round of technological innovation and development opportunities for smartphones. Through the establishment of this joint AI laboratory, TECNO and MediaTek will integrate model, algorithm, and software and hardware development resources to further enhance the AI application experience of smart terminal devices, bringing a new generation of AI smartphones to users.”
Dr. Lu Zhongli, Deputy General Manager of MediaTek’s Computing and AI Technology Business Unit, said, “Generative AI, multimodal, and agent intelligence are the three major trends in AI’s future development. MediaTek hopes to work with more ecosystem partners to jointly build a new AI ecosystem from the cloud to the terminal. By leveraging TECNO’s algorithm advantages and MediaTek’s mobile computing platform, the AI joint laboratory will jointly explore and drive the development of edge AI technology, revolutionizing the terminal application ecosystem.”
The establishment of this AI joint laboratory marks a significant collaboration between TECNO and MediaTek in the field of AI, further promoting the deep integration of smartphones and AI, accelerating the smartphone industry’s progress towards a new AI era, and redefining users’ smart phone experiences. Through this cooperation, TECNO will further deepen its pioneering leadership to bring AI accessible to global emerging market, to enhance better productivity, provide more practical value, and offer easier creative fun.
For any related media queries, please contact [email protected]
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