From capturing our memories to diagnosing diseases, the world is increasingly seeing through a digital lens, a transformation underscored by the industry's explosive growth from $56.4 billion in 2023 to a projected $92.7 billion by 2030.
Key Takeaways
- The global digital imaging market size was valued at USD 56.4 billion in 2023 and is projected to reach USD 92.7 billion by 2030, growing at a CAGR of 7.4% from 2024 to 2030.
- In 2023, the medical imaging segment accounted for 42% of the digital imaging market revenue, driven by advancements in MRI and CT scanners.
- North America dominated the digital imaging market with a 38% share in 2023, generating USD 21.4 billion in revenue.
- 85% of digital cameras sold in 2023 were mirrorless models, up from 72% in 2022.
- Average megapixels in smartphone cameras reached 108 MP in flagship models by end of 2023.
- Computational photography adoption in 95% of new smartphones launched in 2023.
- 67% of consumers prefer smartphones over dedicated cameras for photography in 2023 surveys.
- Daily photo taking via smartphones averaged 45 images per user in 2023.
- 78% of Instagram posts in 2023 were smartphone-captured images.
- Canon held 45% market share in interchangeable lens cameras in Q4 2023.
- Sony captured 52% of mirrorless camera market share worldwide in 2023.
- Samsung supplied 34% of smartphone image sensors in 2023 shipments.
- The digital imaging market is expected to grow at 7.8% CAGR to USD 110 billion by 2032.
- Smartphone imaging to account for 65% of market by 2030 with AI integration.
- Medical digital imaging projected to reach USD 45 billion by 2028 at 6.5% CAGR.
The digital imaging market is growing steadily, driven by medical advances and smartphone cameras.
Competitive Landscape
- Canon held 45% market share in interchangeable lens cameras in Q4 2023.
- Sony captured 52% of mirrorless camera market share worldwide in 2023.
- Samsung supplied 34% of smartphone image sensors in 2023 shipments.
- Nikon regained 12% share in full-frame mirrorless segment in 2023.
- Apple iPhone cameras held 28% premium smartphone imaging market in 2023.
- GoPro dominated action camera market with 67% share in 2023 units sold.
- DJI controlled 77% of consumer drone camera market in 2023.
- Fujifilm's Instax digital hybrid sales led instant camera revival with 23% share.
- OM System (Olympus) held 15% in micro four-thirds system cameras 2023.
- Ambarella SoCs powered 40% of automotive dash cams in 2023.
- Teledyne FLIR led thermal imaging with 29% revenue share in 2023.
- Panasonic Lumix series captured 11% of hybrid photo-video market 2023.
- Huawei overtook Xiaomi in Chinese smartphone camera rankings Q3 2023.
- Sigma lenses compatible with 85% of mirrorless bodies in 2023 launches.
- Leica partnered with Huawei for 22% of luxury smartphone imaging in 2023.
Competitive Landscape Interpretation
It appears the camera kingdom is a land of fierce and fragmented feuds, where Canon still rules the old guard, Sony has seized the mirrorless throne, and every niche from drones to dash cams is lorded over by a different, obsessive specialist.
Consumer Adoption and Usage
- 67% of consumers prefer smartphones over dedicated cameras for photography in 2023 surveys.
- Daily photo taking via smartphones averaged 45 images per user in 2023.
- 78% of Instagram posts in 2023 were smartphone-captured images.
- Mirrorless camera ownership rose 15% among hobbyists from 2022 to 2023.
- 92% of Gen Z users edit photos with AI apps post-capture in 2023.
- Action camera usage for sports increased 22% YoY in 2023 consumer data.
- 55% of travelers rely solely on smartphone cameras for vacation photos in 2023.
- Social media video sharing via phone cameras hit 1.2 trillion clips in 2023.
- Drone photography hobbyists grew to 5.2 million users globally in 2023.
- 41% of professionals use mirrorless over DSLRs for events in 2023 polls.
- Night photography mode usage in smartphones reached 68% of users in 2023.
- Portrait mode satisfaction rated 89% among smartphone users in 2023 surveys.
- 360-degree photo shares on social media up 34% in 2023.
- Thermal imaging apps downloaded 12 million times by consumers in 2023.
- Underwater imaging camera sales to consumers rose 18% in 2023.
- Live streaming with phone cameras averaged 4 hours/week per creator in 2023.
Consumer Adoption and Usage Interpretation
We've entered an era where the best camera is almost always the one in your pocket, yet our hunger for specialized gear like mirrorless cameras and drones is simultaneously skyrocketing, proving we want both effortless perfection and the deliberate craft of capturing our world.
Future Projections and Trends
- The digital imaging market is expected to grow at 7.8% CAGR to USD 110 billion by 2032.
- Smartphone imaging to account for 65% of market by 2030 with AI integration.
- Medical digital imaging projected to reach USD 45 billion by 2028 at 6.5% CAGR.
- Mirrorless cameras forecasted to hit 90% of ILC market by 2027.
- AR/VR imaging demand to grow 25% annually through 2030.
- Automotive camera modules expected to exceed USD 15 billion by 2028.
- Hyperspectral imaging market to reach USD 12 billion by 2030 at 13% CAGR.
- Event-based sensors projected to 10 million units shipped annually by 2028.
- Drone imaging market forecasted at USD 20 billion by 2030.
- SWIR sensors to grow 15% CAGR to USD 0.8 billion by 2029.
- AI in imaging processing to reduce latency by 50% industry-wide by 2027.
- 5G-enabled remote imaging to dominate security market by 2030 with 40% share.
- Consumer adoption of 200MP+ sensors expected in 70% flagships by 2026.
- Thermal imaging in smartphones projected for 20% penetration by 2030.
- Metaverse imaging tech to drive USD 50 billion sub-market by 2030.
- Quantum imaging sensors commercialization expected post-2028 with 100x sensitivity.
- Global digital camera shipments to stabilize at 8 million units annually by 2027.
- Edge AI imaging chips market to USD 10 billion by 2028.
- Space-based digital imaging to grow 18% CAGR to USD 5 billion by 2030.
- Personalized imaging lenses via 3D printing to enter consumer market by 2027.
Future Projections and Trends Interpretation
The future of digital imaging is a kaleidoscope where our phones become medical labs, our cars gain visionary superpowers, and our universe—from the metaverse to outer space—gets meticulously, intelligently, and instantly framed for a market hurtling past $100 billion.
Market Size and Revenue
- The global digital imaging market size was valued at USD 56.4 billion in 2023 and is projected to reach USD 92.7 billion by 2030, growing at a CAGR of 7.4% from 2024 to 2030.
- In 2023, the medical imaging segment accounted for 42% of the digital imaging market revenue, driven by advancements in MRI and CT scanners.
- North America dominated the digital imaging market with a 38% share in 2023, generating USD 21.4 billion in revenue.
- The consumer electronics segment of digital imaging grew by 8.2% YoY in 2023, reaching USD 18.9 billion globally.
- Asia-Pacific digital imaging market revenue hit USD 19.2 billion in 2023, fueled by smartphone camera integrations.
- Industrial digital imaging sub-market was valued at USD 9.7 billion in 2023, with a projected CAGR of 6.8%.
- Europe's digital imaging market share stood at 25% in 2023, equating to USD 14.1 billion.
- Smartphone camera sensors generated 55% of digital imaging revenue in mobile devices in 2023, totaling USD 31 billion.
- The digital radiography segment reached USD 12.5 billion in 2023 within medical imaging.
- Latin America's digital imaging market grew 9.1% in 2023 to USD 3.8 billion.
- Security and surveillance digital imaging market was USD 15.2 billion in 2023 globally.
- Middle East & Africa contributed USD 2.9 billion to digital imaging in 2023, up 7.5% YoY.
- CMOS image sensors held 72% market share in digital imaging hardware in 2023.
- The hyperspectral imaging segment in digital imaging was valued at USD 4.1 billion in 2023.
- Automotive digital imaging market revenue reached USD 7.8 billion in 2023.
- Canon Inc. reported digital imaging segment revenue of JPY 1.2 trillion in FY2023.
- Sony Corporation's image sensor division generated USD 11.5 billion in revenue for FY2023.
- Nikon Corporation's imaging products group revenue was JPY 285 billion in FY2023.
- Fujifilm Holdings' imaging solutions business unit revenue stood at JPY 450 billion in FY2023.
- Olympus Corporation's medical imaging revenue was JPY 520 billion in FY2023.
- Samsung Electronics' camera module shipments contributed USD 22 billion to revenue in 2023.
- GoPro Inc. digital imaging product sales reached USD 1.0 billion in 2023.
- DJI's drone imaging systems generated estimated USD 3.5 billion in 2023 revenue.
- Ambarella Inc. imaging SoC revenue was USD 337 million in FY2023.
- Teledyne Technologies' digital imaging segment revenue hit USD 1.4 billion in 2023.
- FLIR Systems (Teledyne FLIR) thermal imaging revenue was USD 1.8 billion in 2023.
- Raytheon Technologies' imaging systems contributed USD 2.2 billion in 2023.
Market Size and Revenue Interpretation
While North America scrutinizes its insides and Asia snaps its lunch, the entire world is now gazing, judging, recording, and diagnosing through a lens, fueling a nearly hundred-billion-dollar obsession with seeing everything more clearly.
Technological Advancements
- 85% of digital cameras sold in 2023 were mirrorless models, up from 72% in 2022.
- Average megapixels in smartphone cameras reached 108 MP in flagship models by end of 2023.
- Computational photography adoption in 95% of new smartphones launched in 2023.
- AI-enhanced image processing chips saw 45% performance improvement in 2023 models.
- 4K video capability standard in 88% of digital cameras released in 2023.
- LiDAR sensors integrated in 62% of premium smartphones for imaging depth in 2023.
- Global shutter sensors market grew 28% in 2023 for high-speed imaging applications.
- 8K resolution support in 35% of professional digital cameras by 2023.
- Perovskite-based image sensors entered commercial pilots with 20% higher sensitivity in 2023.
- Neuromorphic imaging chips reduced power consumption by 70% in 2023 prototypes.
- Hyperspectral imaging resolution improved to 200 bands in commercial systems in 2023.
- Thermal imaging resolution hit 1280x1024 in FLIR's latest sensors released 2023.
- Multi-spectral camera fusion tech adopted in 40% of automotive ADAS in 2023.
- Event-based vision sensors shipments tripled to 1.2 million units in 2023.
- Quantum dot enhancements boosted smartphone display-imaging sync by 30% in 2023.
- SWIR imaging sensors under 1mm thickness commercialized in 2023 for mobiles.
- 360-degree imaging stitching latency reduced to under 10ms in 2023 VR cameras.
- Phase detection autofocus speed improved to 0.03s in 75% of 2023 DSLRs/mirrorless.
- HDR dynamic range exceeded 20 stops in professional cinema cameras in 2023.
- Nano-pixel tech enabled 200MP sensors with 0.56μm pixel size in 2023 phones.
Technological Advancements Interpretation
The mirrorless takeover is nearly complete, smartphone cameras are now computational megapixel monsters aided by AI and LiDAR, and from global shutters to neuromorphic chips, the entire imaging industry is racing toward a future where even our phones can see in hyperspectral detail while consuming less power than ever before.
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