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PRESS RELEASE: Revenue from Worldwide Digital Camera Sales to Reach $11.8 Billion in 2007 According to InfoTrends Research Group
BOSTON--(BUSINESS WIRE)--Nov. 5, 2002--A new study from InfoTrends Research Group projects that worldwide revenue from low-end (sub-$1,000) digital camera sales is forecast to reach $11.8 billion in 2007. Worldwide unit shipments of low-end digital cameras will reach 24 million units in 2002, capturing 28% of total worldwide camera sales (not including one-time use cameras). Unit volume is forecast to grow at a compound annual growth rate of 16% to reach 51 million units in 2007.
"Through the forecast period, digital cameras are expected to become fully mainstream in North America, Europe, and Japan," stated Michelle Slaughter, Director of InfoTrends Research Group. "Factors that will contribute to mainstream consumer adoption include advances in the price/performance level of digital cameras, widespread availability of retail digital photofinishing services, and greater installed base of supporting technologies in the home, such as high-quality and affordable printers and low-cost broadband Internet services."
The three leading regions for digital cameras are North America, Japan, and Europe. North America is the leading region, accounting for 39% of digital cameras sold in 2002. Europe and Japan represent unit shares of 27% and 26%, respectively. Although Japan used to represent the largest market for digital cameras, its market is saturating, and cameras face competition from combination cell-phones/cameras. The less-developed countries are included in the Rest of the World (ROW) category, which is a few years behind the leading markets. Thus, the ROW category will be the fastest-growing area, and will represent 14% of worldwide digital camera unit sales in 2007.
The top five vendors worldwide in 2002 are Sony, Olympus, Canon, Fuji, and Kodak. Their market shares vary by country, depending on user feature preferences and brand perceptions. Combined, these companies make up 60% of the worldwide digital camera shipments.
Entitled "2002 Worldwide Digital Camera Forecast," the new report provides market forecasts for North America, Japan, Europe, and the Rest of the World. It sizes the low-end digital camera market, outlines key vendors and trends, and projects unit shipments, revenues, and price declines through 2007 by region. The report is available immediately.
About InfoTrends Research Group
InfoTrends Research Group, Inc. (www.infotrends-rgi.com) is the leading market research and consulting firm for digital imaging technologies and markets. With the largest number of analysts dedicated solely to digital imaging, InfoTrends offers the most focused coverage of this rapidly evolving market. InfoTrends helps its worldwide clientele improve the effectiveness of their strategic planning by providing valuable tools for intelligent decision-making, including forecasts, end user research, product analysis, and market trend tracking. Research is available through standalone reports and custom consulting. The company also offers subscription advisory services for Digital Photography Trends(TM), Internet Imaging Trends(TM), and Image Scanning Trends(TM) in online format. InfoTrends is committed to promoting market growth and development through its press and media events for the digital imaging industry, and through its industry conferences. InfoTrends is a member of the CAP Ventures family (www.capv.com), a worldwide strategic consulting firm for providers and users of business communication technologies and services.
(First posted on Wednesday, November 6, 2002 at 02:25 EST)