The global 4K camera market is expected to grow at a healthy CAGR of over 20 % during 2016 to 2024 (forecast period). The same will be credited to its multiple applications in consumer electronics, entertainment, and education industries. Additionally, high quality videos & images offered by these cameras can drive the overall industry. 4K cameras provide a resolution that is four times higher than standard/HD (high definition) ones.
The industry can drive ‘4K camera’ changes along with ‘broadcasting system’ innovations. 4K technology is likely to render a mark in various ‘digital media’ segments, such as TV screens and digital cameras. 4K advancements coupled with escalating demand for ‘high resolution’ images should augment market demand.
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However, high prices along with large-sized zooms preferred by professional or skilled broadcasters may hinder the industry. Manufacturers are now focusing on the development of 2/3 inch ultra HD devices. The latter reflect the market values for outdoor broadcast applications; such as ‘live sports production.’
Additionally, the acquisition of 4K devices is anticipated to be mandatory for new devices in the next eight years. These novel devices play a significant role in sports; like tennis, cricket, football, etc. The introduction of ‘mirror-less’ ultra HD cameras will provide users with better focusing systems and more compact size.
Bigger sensors offered by such cameras can positively impact the overall industry Also, the flexibility of interchangeable lenses should boost market incomes.
The worldwide industry is categorized as per applications and regions. Applications comprise defense & aerospace, entertainment, consumer electronics, retail & advertisement, and education & business. Various ad agencies are estimated to use 4K camera devices to promote their products and attain greater industry traction.
4K cameras have witnessed significant consumption from the education and business industries. Another key application of these cameras is medical. Medical applications require ‘high-resolution’ to make right decisions concerning the patients.
The adoption of ‘high-resolution’ cameras during surgeries is the key to getting clearer body images and ensuring effective medical procedures. Geographically, the Asia-Pacific 4K camera market size would experience substantial growth till 2024. This may be ascribed to rising usage of 4K devices in the region.
Various factors in North America like increasing population, high consumer disposable earnings, and demand for high-resolution images & videos are predicted to propel regional sales. This will be true specifically regarding the U. S. and Canada. European nations such as the Netherlands, Germany, Switzerland, etc. could also face higher demand. Developing economies like India & some others are estimated to observe huge demand for 4K cameras in the near future.
Major companies operating in the worldwide 4K camera market and related products are Axis Communications A. B.; Canon Inc.; Panasonic Corp.; Bosch Security Systems; and Infineon Technologies A. G.. Most of these companies vie for increased shares and better global presence in the coming eight years. Panasonic gained a strong foothold on commercial HD cameras with its original VariCam HD ones. The New ‘VariCams’ utilize modular configurations, with each of them adopting similar docking electronic backs.