PRESS RELEASE: InfoTrends Releases Landmark Study on Digital SLR Market
(Weymouth, MA) November 13, 2008. . . According to new research from InfoTrends, Digital SLRs (DSLRs) are emerging as an area of rapid growth within the digital camera industry. Lower selling prices, a greater range of models, and better distribution have contributed to the growth in this market. Vendors and service providers that can provide solutions for how consumers connect, share, and create their images will realize success and future growth.
“Digital SLRs represent the brightest spot in the digital camera market, offering vendors growth far outweighing the increase in the digital camera market as a whole,” commented Mette Eriksen, a Director at InfoTrends. InfoTrends’ research shows that in 2007 the DSLR market grew by 40% compared to the point-and-shoot market. The market will grow 16% in 2008 and will not peak until 2012, for a compound annual growth rate (CAGR) of 3.8% between 2008 and 2013.
As the digital SLR (DSLR) market continues to grow, vendors will need a better understanding of the attitudes, desires, and purchasing decision drivers of users and potential buyers. First time buyers will respond to different sales and marketing strategies than the existing customer base. Research indicates that first time buyers will be drawn to ease of use, mainstream retailers (rather than specialty stores), small models, colors, and low prices. Repeat buyers will find features such as increased light sensitivity and reduced image noise, automated geo-tagging, and wireless technology appealing.
InfoTrends’ new study entitled The Consumer Digital SLR Marketplace: A Multi-Client Study explores the drivers of photo activity among DSLR owners as well as the services and products they currently use and anticipate using in the future. This study also investigates consumers who are planning to purchase their first DSLR in the coming year. “Companies vying for a leadership position in the consumer digital SLR marketplace will benefit directly from the findings of this study, which provide a complete understanding of today’s consumer digital SLR owner and what may be in store for the future,” stated Eriksen.
Key objectives of the study include:
- Demographic profiling of DSLR owners and future owners (those planning to purchase in the coming year)
- Examination of digital photo activities
- Obtain insight into feature requirements
- Determine purchase decision criteria
- Identify accessories owned
- Size, segment, and forecast the market by price band
- Identify opportunities and strategies for technology vendors and service providers
- InfoTrends conducted a structured survey with more than 600 digital SLR owners and more than 900 potential buyers in the U.S. The survey investigated what photographic equipment, accessories, and software they own; what their current photographic behaviors are; what services they use; and what their future purchasing plans are.
The study will provide camera, lens, accessory, and photographic equipment retailers with critical information to support their marketing efforts and product planning and distribution initiatives. For more information on the study contact Matt O’Keefe at +1 781 616-2100 ext. 115 or via e-mail at [email protected]
InfoTrends, a Questex company, is the leading worldwide market research and strategic consulting firm for the digital imaging and document solutions industry. We provide research, analysis, forecasts, and advice to help clients understand market trends, identify opportunities, and develop strategies to grow their businesses. Additional information about InfoTrends is available on the Web at www.infotrends.com.
(First posted on Thursday, November 20, 2008 at 14:57 EST)