This character is a Other Symbol and is commonly used, that is, in no specific script.
The glyph is not a composition. Its East Asian Width is wide. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. U+1F4F8 offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “camera with flash” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: camera, flash, video.
This character is designated as an emoji. It will be rendered as colorful emoji on conforming platforms. To reduce it to a monochrome character, you can combine it with Variation Selector-15: 📸︎ See the Emojipedia for more details on this character’s emoji properties.
The Wikipedia has the following information about this codepoint:
A flash is a device used in photography that produces a brief burst of light (lasting around 1⁄200 of a second) at a color temperature of about 5500 K to help illuminate a scene. The main purpose of a flash is to illuminate a dark scene. Other uses are capturing quickly moving objects or changing the quality of light. Flash refers either to the flash of light itself or to the electronic flash unit discharging the light. Most current flash units are electronic, having evolved from single-use flashbulbs and flammable powders. Modern cameras often activate flash units automatically.
Flash units are commonly built directly into a camera. Some cameras allow separate flash units to be mounted via a standardized accessory mount bracket (a hot shoe). In professional studio equipment, flashes may be large, standalone units, or studio strobes, powered by special battery packs or connected to mains power. They are either synchronized with the camera using a flash synchronization cable or radio signal, or are light-triggered, meaning that only one flash unit needs to be synchronized with the camera, and in turn triggers the other units, called slaves.