The global digital photography market – consisting of cameras, software, processing equipment and camera phones – is set to grow to $110.79 billion by 2021, according to a new report.

The report from Zion Market Research states the value of the global digital photography market will rise by 6.1% between 2016 and 2021.

In 2015 the market was valued at $77.66 billion.

Breaking down the market regionally, Zion states that Asia Pacific will be responsible for most of the growth in the market over this time, with North America in second.

The report also estimates that Asia Pacific will see significant growth as its countries economies improve, as well as Latin America.

Zion also claims that much of the growth is being driven by social networks like Instagram and Facebook.

Via: DPReview

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