Direct competition dominates European pro camcorder market, yet growth on the horizon

The European pro camcorder market continues to face direct competition from convergent devices such as mirrorless and DSLR cameras used in pro video. And as videographers are now increasingly working across multiple video applications, rather than in dedicated fragmented realms, the fight for market share has intensified. However, according to a new industry report from Futuresource Consulting, the dynamic between the convergent products themselves is now changing.  

A shifting landscape for video capture

“The professional video market used to be clear cut,” says Helen Matthews, Lead Market Analyst, Futuresource Consulting. “Previously, end users would primarily use pro camcorders and digital cinema cameras for video production, but now, the lines are much more blurred. With the integration of video into DSLRs, the ongoing advancements in DSLR technology, and the emergence of mirrorless cameras, the market has become more diverse and competition has intensified. In addition, the increasing number of amateur users investing in professional video equipment for content creation has further complicated the landscape.” 

“Now, in today's era of social media dominance, everyone is getting in on the action. Sports clubs, bars, secondary schools, museums, vloggers, restaurants and gyms, as well as the more traditional verticals, are all lucrative target audiences for vendors.” 

This groundswell of use cases has been fuelling the convergent pro video market for some time, with DSLRs, mirrorless and video-first cameras all being sold into professional video. Futuresource data shows this subset was worth €129 million in 2023. When pro camcorders are included, the value of the total pro video acquisition market in 2023 was €267 million. 

European market weakened by North American connection

Despite the influx of new audiences, the core user base for convergent products still consists of independent videographers and freelancers, who rely heavily on business from production studios. As a result, pro video production in the UK, Germany, Norway and other European countries is closely tied to North America. And when the WGA and SAG-AFTRA Hollywood strike took hold during 2023, studios in Europe also ceased activity, resulting in a loss of earnings for many videographers and freelancers. This led to convergent pro video market volumes decreasing by 17% last year. 

Futuresource Consulting’s European Convergence in Pro Video report is based on direct feedback from manufacturers, resellers, associations and end users. It assesses the current state of the market and provides an outlook on the shape of the sector during the next five years. For more information or to make a purchase, please contact Ben at ben.thrussell@futuresource-hq.com.