Marketing is sharpening its focus on the ‘D’ word whether it is the Digital market or Digital photography market. Just 20 years ago, people were considerably less aware about this market as well as the charming opportunities that it could provide.
The market for digital photography is estimated at USD 82.6 billion by the year 2016, registering a growth of 5.9% annually. The digital photography market with its complementary products like cameras, lenses, printers, storage cards, digital photo frames, and photo editing software, accounts for more than USD 68.5 billion. Hence its complementary products generate more in revenues and provide an opportunity to become huge business.
Digital media has changed the face of digital photography, photo sharing sites, blogging sites and networking sites, thus creating big business for the digital photography market. Internet is affecting daily lives of consumers and becoming a necessary evil; digital photography is one among them.
This market can be broken down into segments such as:
- Digital photography products :
Products can include photo processing equipment, interchangeable lenses, camera cell phones and many more.
- Digital photography applications:
Applications could include photography software, photo looks, photo processing etc.
There are some factors which support the growth of the digital photography market:
Networking sites are continuously redesigning their photo sharing section to give consumers a rich and exciting visual experience. Rising interest in photography as a hobby could be another leading factor.
There are lots of opportunities by which market revenue in this sector can be optimized:
By providing after sales service, improving technology like mirror less camera etc.
Some major brands which are competing with each other with great and user friendly features are:
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Free Market Analysis
The digital photography market constitutes products that enable digital photography. Digital photography uses an array of light sensitive sensors to capture the image focused by the lens, as opposed to an exposure on light sensitive film. The captured image then is stored as a digital file ready for digital processing (color correction, sizing, cropping, etc.), viewing or printing. Digital photography has also been adopted by many amateur snapshot photographers, who take advantage of the convenience of sending images by email, placing them on the World Wide Web.
The Digital Photography Market Report will include market sizing and information on major market segments for both products and applications, Products covered include digital cameras, lenses, quality printers, interchangeable lenses, image sensors, camera cell phones, and digital storage. Applications include professional photography and photographers, image editing and management software.
The digital photography market was valued at USD 64.90 billion last year; the global market is estimated to reach USD 82.5 billion by year 2016 at a constant growth rate of 4% per year. However the digital photo printing market is about to lose on revenue generation upto USD 300 million, whereas, the digital camera and lenses market will boom due to increase in demand and affordable prices.
In markets which are matured like Europe, U.S, Japan and Asian countries, innovation is the driver which can carry forward the demand for digital photography and offer a platform for replacement sales. Upgraded connectivity with other devices in the digital imaging landscape is the one advancement which can be implemented. Connectivity is something which can help the digital photography market to do well. However, digital cameras have a threat from smart phones and camera phones which enable seamless and instant sharing of photographs. Manufactures and vendors will have to work upon the technology, bringing about newer innovations to ensure connectivity of digital cameras like that of smart phones and camera phones to make certain that their products remain superior to other devices in the market.
Wireless cameras will drive photography into newer markets. Digital and video cameras will rapidly evolve into network devices, creating fresh opportunities for wireless operators, manufacturers and film suppliers. That is one of the conclusions which can be interpreted on the study of digital photography markets. Digital cameras will access PCs and the Internet via wireless links, achieving new levels of convenience and capability.
Digital photography has its advanced applications in specialized industries like medical applications, surgeries, industrial applications in automobiles, manufacturing, internet based photo sharing, photo kiosk market etc. Some of the major players in the digital photography market include Sony, Konica, Canon, Minolta and Samsung.