Published on 5 Feb 2023 on Insider Monkey via Yahoo Finance
16 Largest Photography Companies In The World
In this article, we will take a look at the 16 largest photography companies in the world. If you want to see more companies in this selection, go to the 5 Largest Photography Companies in the World.
According to Zion Market Research, the size of the global digital photography market stood at $105.2 billion at the end of 2020, and it is anticipated to increase to $149.4 billion by 2028. This would reflect a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028. The increase in photo sharing over social media platforms like Facebook, Instagram, Snapchat, and TikTok has given a boost to the photography industry. Popular companies operating in the photography industry, such as Canon Inc (NYSE:CAJ), Sony Group Corporation (NYSE:SONY), and FUJIFILM Holdings Corporation (OTC:FUJIY), are continuously focusing on innovation and developing new technologies to enhance the quality of photography taking place globally. Additionally, a number of top camera manufacturers are investing in projects to create smaller, lighter camera bodies with equivalent shooting capabilities. It is anticipated that this will produce a favorable outlook for the industry in the upcoming years.
According to Nikkei, a cumulative 70% of the market share in the global photography industry is held by Canon Inc (NYSE:CAJ) and Sony Group Corporation (NYSE:SONY). Canon and Sony's combined market share increased by 4.4% over pre-pandemic levels, while Nikon's share decreased by 4.9%, and Fujifilm's share increased by 0.9%. With 41% of the market share in 2020, North America held the top position in the global market for photographic services. The second-largest region, accounting for 29% of the market share for photography services globally, was Asia Pacific.