Digital Camera Ownership Still Rising
Many families need a camera. It is easy to understand why so many people want to preserve their memories in photo albums or on their computers and then share them online.
This is why digital camera ownership continues to rise worldwide. The Consumer Electronics Association data for 2011 showed that the digital camera was ranked third among the most popular electronic products, with 62 percent. It is followed by the TV (98%) and the DVD player/recorder (84%).
The United States has 77 percent of households that have at least one digital camera.
Sales
In 2010, worldwide sales of photographic products surpassed $55 billion. According to the MarketLine report, digital cameras top the list of products that are used for taking photographs. Digicams accounted for more than 60% of the total market, or $35 billion.
Another report showed that the number of digital cameras sold in the U.S. over a five-year period saw a more than $3800 increase in sales. The 2006 sales were close to $33 million, while 2011 sales were $36,844. The largest increase was in 2009-2010, which was more than $3,000.
Growth
The global camera industry is expected to experience significant growth. MarketLine predicts that the global camera industry will experience a three percent annual growth, which will lead to a market worth more than $65 billion in 2015.
Research in China also revealed that worldwide, more than 140,000,000 units were sold in 2010.
The demand for DSLRs or digital single-lens reflex cameras is driving the global market. The U.S., European Union, and the Asia Pacific are currently the top three markets, with the EU and U.S. considered mature markets. However, three countries are keeping up. Russia, India, and China will likely experience the greatest expansion in the future.
With the expansion of the compact camera module, Taiwan saw a growth rate of nearly eight percent in Asia. China remains the world’s leader in digital camera sales. It had sales of over $7 billion in 2010 and exported around 110 million units.
There are many major players in the global market for photographic products. These include Fujifilm, Casio Kodak and Panasonic, Sony, Sanyo Toshiba, Samsung, Leica, Hewlett-Packard, Sony, Kodak, and Kodak. The list also includes Seiko, Ricoh, and Nikon.
Digital photography is valued at $68 billion today. This includes cameras, as well as printers and lenses. Photography services, however, make up $700billion in revenue.
According to market research, the smartphone is now more popular than the digital camera for taking photos. Smartphones these days have built-in cameras that can capture high-quality images comparable to, or even better than, the digital camera units. Experts predict that mobile communication devices will continue to dominate the digital camera market.
