Weymouth, MA—A recent study from InfoTrends notes that the digital camera market is maturing but opportunities still exist to grow this market if the right products are produced and the right consumers are targeted.
The North American Consumer Digital Camera Forecast: 2010–2015 study indicates that “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 fueled by purchases of replacement and additional cameras. New features and products will be crucial to getting consumers back into the buying cycle.”
The research firm reports that interchangeable-lens cameras are the brightest spot in the market and are projected to account for 32% of camera revenues in 2015 (see Figure 1). This expanding landscape, with the emergence of Micro Four Thirds and mirrorless hybrid cameras, will negate the term “digital single-lens reflex camera” (DSLR) as it no longer covers the full range of category products.
The new breed of compact interchangeable-lens cameras, states InfoTrends, “will appeal to consumers on two levels: form factor and technology.” For new entrants into this segment, the challenge will be to develop a range of lenses and accessories, “as they will drive profitability.”
The Connected Experience
InfoTrends believes that in the near future camera manufacturers will need to create products that “fit into the connected experience of sharing photos anywhere, anytime.” This connected experience refers to connecting devices such as HDTVs, digital photo frames, set-top boxes, game consoles, mobile phones and computers with personal and commercial content and services. Digital cameras will need to integrate with this ecosystem or they may be left behind (see Figure 2).
Additionally, having the ability to share photos instantly and use them to interact with others will be a driver for photo activity, notes InfoTrends. “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 cameraphones.” infotrends.com