Global Instant Cameras and Accessories Market - Trends, Drivers, Challenges, and Vendor Analysis Through 2021 | Technavio

The global instant cameras and accessories market is expected to grow at a CAGR close to 4% during the period 2017-2021, according to a new market research study by Technavio.

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Technavio has published a new market research report on the global instant cameras and accessories market 2017-2021 under their media and entertainment library. (Graphic: Business Wire)

The report categorizes the global instant cameras and accessories market by type including cameras and accessories, by technology including film and digital, and by distribution channel including online and offline. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: provides users a platform to store pictures privately without being online

The landscape of photography for people has completely changed due to social media. With the advent of smartphones, digital photos that are stored on the cloud are always present with the users. Instant photography offers completely different dimensions of photos to its users. Nowadays, customers understand the importance of the physical form of photography, and this has led to the printing of digital photographs that are deemed important or memorable.

According to Ujjwal Doshi, a lead analyst at Technavio for consumer electronics, “Social media platforms such as Facebook has various friend circles from family to acquaintances. Users may not want them to view their photos. So, this requires personal settings for every photograph, which will be a time consuming and tedious process. It is more sensible to store photos in a tangible form where they have more durability.”

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Market trend: hybrid models of instant cameras

Hybrid models are one of the key trends that can be foreseen in the instant cameras and accessories market. The hybrid models are cameras that have both film and digital features. The camera is a film camera, but it has digital filters, which are extremely common in the contemporary era of digital photography. The digital filters will ensure that cameras produce better images in low light along with features such as autofocus and close-up capabilities.

Market challenge: high maintenance cost

High maintenance cost proves to be one of the major challenges for instant film cameras. In case of film cameras, the films must be repeatedly replaced, which is a recurring cost for users. Similarly, for digital cameras, they are either heavy or expensive when compared to other instant cameras. Considering these finite options for instant cameras, high maintenance cost is a significant challenge.

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Key vendors in the market:

• Fujifilm
• Kodak
• Lomography
• PLR IP Holdings

The global instant cameras and accessories market is one of the fastest growing markets in the world and is highly competitive. Intense competition, rapid technological advances, and frequent changes in consumer preferences present significant risks for vendors. Distinguishing their product and service offerings through clear and unique value propositions helps the vendors to survive and succeed in this intensified competitive environment. Innovative product features, a guarantee of high-quality images, low costs, and easy availability, are some of features provided by the vendors to stay ahead. They not only have to adopt new business models but also stay abreast of consumer preferences to stay competitive in the market.

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