Global production of digital cameras has declined by 23% due to the rising popularity of smartphones with high-quality cameras, leading to decreased demand for point-and-shoot models. Developed markets like North America and Europe are experiencing a drop in first-time buyers, while the interchangeable lens camera segment is expected to grow, driven by the introduction of mirror-less options. As consumer preferences shift towards multifunctional devices, the overall market value of digital cameras fell to EUR 5.1 billion in 2014, with future growth anticipated mainly in the interchangeable lens category.
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