The worldwide digital camera market is projected to grow to 138 million units by the year 2015 attributed by increasing demand for digital single lens reflex (SLR) cameras. Demand for digital SLR cameras is expected to witness significant growth in Asia Pacific due to the increasing income levels and growing prosperity of consumers.
Digital cameras represent one of the most popular segments of consumer electronics products market and it has benefited immensely from digitization of consumer electronics products. The global economic downturn hampered the growth of this sector during the past few years; however, with global economy recovering from economic recession, this industry is expected to witness significant growth with more number of people buying digital SLR cameras. Increased competition and growing income levels of consumers are equally responsible for driving the demand of digital cameras in the global market. Technological advancements like introduction of touch screen technology and HD quality in cameras is also contributing to the rise in sales of compact digital cameras.
The US, Europe, and Asia Pacific are the major contributors to the digital camera industry accounting for the lion’s share. With global economic recovery and US and Europe exhibiting mature market conditions, India, China, and Russian markets are offering potential growth opportunities for manufacturers of digital cameras.
Purchase of new cameras is likely to be influenced by incorporation of new technologies like touch screen user interface, high definition video, wireless connectivity, advanced image detection, and improved zoom lenses among others.
Single lens reflex (SLR) camera is the rapidly growing segment of this market as it offers better photograph quality. Digital single lens reflex cameras are offering vast growth opportunities because of digitization, falling prices, easy usage, and robust demand in growing markets.
Market Segmentation Based on Type
Compact Digital Cameras
- Bridge Cameras
- Mirror-less Interchangeable-lens Cameras
- Digital Single Lens Reflex (SLR) Cameras
- Digital Rangefinders
- Line-scan Camera Systems
- North America
- Asia Pacific
- Rest of the World
Some of the major players dominating this market are Canon Corporation, Casio Corporation, Eastman Kodak, FujiFilm, Japan Victor Company (JVC), Kyocera, Matsushita (Panasonic), Minolta, Olympus Corporation, Polaroid, Ricoh, Samsung, Sanyo, Sony Corporation, Hewlett Packard Company, and others.
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