The global digital camcorders market size is expected to reach USD 3.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.4% over the forecast period. Rising interest of the common mass in capturing important moments of their life is driving the market. It is also supported by easy advanced mechanism of these devices, which makes it easy for a common man to handle, record, charge, and store the recordings. Manufacturers have been supporting the trend by innovating the product to simplify its mechanism and improve its video quality.
Shifting trend towards innovating the standby capacity of the battery, the resolution of the video, and the storage capacity of the device has changed the industry scenario completely. Fine HD and UHD quality videos can be recorded using small and easily portable devices. These factors have promoted their use in recording grand celebrations like wedding ceremonies, birthdays as well as regular day to day incidents, such as the first-time babies walk or talk or ride bicycles. It has become an important element for tourism and camping. People prefer saving moments from these and taking them back as memorabilia.
In September 2018, Canon launched XF705 a professional-use camcorder. It records footages of 4K (3840 x 2160) resolution. It is said to be suitable for video production and broadcast. It can store videos in SD card and capture high quality video. It comes along with a L (Luxury) Series 15x optical zoom lens, which optimizes 4k imaging. It is powered by the Dual DIGIC DV 6 image-processing platform. The videos can be recorded in two formats, which are HDR and Perceptual Quantization (PQ).
HDR format is suitable for live video transmission and broadcasting. Whereas, PQ is ideal for web transmission and film production. Its 1.0-inch CMOS sensor helps in precising autofocus. The touchscreen features help in providing the ability of autofocusing. Similarly, in May 2019, Panasonic launched its 6K Lumix S1H cine camera. These products comprise 6K camera that has the ability to capture videos with 50% higher horizontal resolution.
Further key findings from the report suggest:
- By resolution, full HD (1920 x 1080) 1080p accounted for more than 55.0% share of the global digital camcorders market revenue in 2018
- The online segment is expected to expand at the fastest CAGR of 10.8% from 2019 to 2025
- The offline segment generated a revenue of USD 1.0 billion in 2018.