PRESS RELEASE: North American Consumer Digital Camera Market Faces New Demands and Challenges
(Weymouth, MA) August 25, 2010 . . . InfoTrends has just released its North American Consumer Digital Camera Forecast for 2010 – 2015. With the camera market beginning to mature, repeat purchases have become critical for sales, as 95% of all cameras purchased in 2009 were bought by households that already owned a camera. Although first-time buyers still represent an opportunity, the market is largely fuelled by purchases of replacement and additional cameras. New features and products will be crucial to getting consumers back into the buying cycle.
Interchangeable lens cameras are the brightest spot in the digital camera market, as they are projected to account for 32% of all digital camera revenues in 2015. The landscape for interchangeable lens cameras is expanding. The emergence of Micro Four Thirds and mirrorless hybrid cameras means that the term “digital single-lens reflex camera” (DSLR) no longer covers the full range of products available.
The new breed of compact interchangeable lens cameras will appeal to consumers on two levels: form factor and technology. The greatest challenge for new entrants is to develop a comprehensive range of lenses and accessories, as they will drive profitability.
Another challenge facing vendors is creating products that fit into the connected experience of sharing photos anywhere, anytime. The connected experience refers to connecting devices like TVs, set top boxes, game consoles, mobile phones, photo frames, and PCs with personal and commercial content and services. Digital cameras need to integrate with this ecosystem or they will risk being left out of the equation.
Ed Lee, a Group Director at InfoTrends, stated, “Having the ability to share photos instantly and use them to interact with others will be a driver for photo activity. Digital camera vendors must develop products that provide consumers with this option so they remain relevant to today’s user experience, otherwise they run the risk of losing the battle to camera phones.”
InfoTrends’ North American Consumer Digital Camera Forecast for 2010 – 2015 provides a forecast for the U.S. market in terms of units, revenue, and average selling price for the consumer (sub-$1,500) digital camera , with price segments broken out. It also includes an analysis of the key market drivers, barriers, digital camera vendors, and ongoing market issues, as well as digital camera design and technology trends. In addition, the report provides a six-year forecast for Canada’s unit sales.
This report is available for purchase. For more information or to purchase this report visit our online store or contact Robyn Wuori at +1 781 616 2100 ext. 103 or e-mail [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, September 2, 2010 at 12:38 EDT)