Ken Research has released report on the growth estimates of Digital Cameras Industry, in the global market titled, “Global Digital Cameras Industry Situation and Prospects Research report 2017″. This report gauges over the major developments and growth prospects of the global digital cameras industry. Herein, the in-depth analysis has been provided inclusive of the integrity of knowledge as well as with the comprehensiveness of contents, which is farther promised to be of professional help to even the industry insiders or investors. Additionally, the analysis is based on the international market including development history, competitive landscape analysis and major regions development status.
The in-depth market analysis has been inculcated with the basic overview of the industry supported by particulars regarding its definition, classifications, applications, development policies and plans, manufacturing processes, cost structures, import/export, supply and consumption figures, price, revenue and gross margin by regions, company profiles, product specification, upstream raw materials, and downstream consumers analysis is also carried out. The opportunities for new feasible projects have also been assessed.
The digital camera industry has been in a state of flux since the past few years as a consequence of the usability and handiness of smart phones which have always outraged the consumers with increasing convenience. But hitherto, there still remains a long distance to bridge between a Smartphone and a digital camera in terms of producing the high definition images. Its significance lies in recording and storing photographic images in digital form. Currently there are models developed to be able to capture sound or video, in addition to the still images. Info Trends (is a market information website) established a new research study which demonstrates that the worldwide digital camera market continues to proclaim a strong year-over-year unit growth rate since the Great Recession period of 2009. This report also uncovers some interesting insights that give us a reason to believe that the digital imaging industry can bounce back.
With new technologies emerging every day, the Digital cameras industry is anticipated to grow dynamically in the upcoming years. Three distinct areas have been identified to significantly contribute to the growth such as the digital cameras replacing the conventional camera functionality, digital cameras being used in applications that cannot be handled with film, and the use of tethered digital cameras for home and desktop communications. The digital cameras make it possible to cover applications that are unapproachable with film such as the commercial and general use in areas pertaining to real estate, education, diagnostic medicine, security, event photography, e-mail postcards, etc. Advances in technology have led to the development of digital cameras with advanced features, such as MILCs and DSLRs with HD picture and video quality.
The digital camera market enforces segmentation based on product type, which includes all the determining types of digital camera widely embraced by consumers on an international platform. Further segmentation has been typified based on the product type and analysis of the market; interchangeable lens camera and built-in cameras. Moreover, it can based on the commercial areas, portfolio, consumer segment, and varied price ranges such premium, mid-size, and low price range.
The world economy enlarged by just 2.2 per cent in the year 2016, and is anticipated to further extend by only 2.7 per cent in 2017 and reach till 2.9 per cent in 2018, through which it can be contemplated as a state of stagnant growth indicating the state of economic stabilization for the present as well as the future rather than a robust revival of global demand. Moreover, the correspondence between the demand, investment, trade and productivity coupled with the weak global growth may prove to be self perpetuating for the Digital Cameras industry.
CHALLENGES AND GROWTH
The obstructing factors to the growth of the Digital camera market may involve the invention of small personal cameras that have high-definition capabilities which are further pushing the digital camcorders into a period of uncertainty. The prominence of smart phones and mobile internet present the greatest challenge with the Smartphone being reviewed as a typical camera on DPReview coupled with the lack of innovation in the digital camera products and devices. Other factors include the newest of the models scoring lower than its predecessor (example: EOS 550D), confusing product line-up and specifications, slow to new technology by market leaders and as well as lack of engagement with the camera consumers. And in order to address such competition, many digital cameras are integrating new features such as immediate photo upload and SLR. Their intended use is to become active visual communication devices rather than to just produce static hardcopy prints and transparencies. Further benefits include that a photographer can print a picture locally, use it in a presentation, share it on the Web, and or either transmit it over the telephone (even wirelessly). These developmental reasons are preceding growth from here and now.
Asia can be portrayed as the dominating market with the highest number of shipments of the digital camera worldwide, followed by Europe. North America and Latin America are the third and fourth largest markets. The key players identified as playing significant role in the growth and development of the digital camera industry include Canon, Casio, Coleman, Fujifilm, Hasselblad, Kodak, Leica, Nikon, Olympus, Panasonic Lumix, Pentax, Polaroid, Ricoh, Samsung, and Sony. They continue to expand significant R&D efforts, developing even newer technology in all these product areas. At the same time, manufacturers and retailers are on the search for the next big thing, like wearable electronics.
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Ankur Gupta, Head Marketing & Communications