GFK Analyst Marion Knoche claims that there has been an unexpected growth in Digital Camera markets around the globe. 126 million DSCs were sold in 2007, representing 18% growth. The largest market was the US, followed by Japan and China. The most dynamic markets were in countries such as Russia and Latin America (Brazil, Chile and Argentina) as well as Australia with 54% growth.
The continuing flurry of new models entering the market combined with the ever increasing affordability of camcorders has led to a modest rise in global volume sales in recent months. February 2008 saw sales 5.9 % when compared to the same period last year.
From March 2007 to February 2008, sales units grew by 2.6% on the previous year according to GfK Retail and Technology. However value sales did not fare so well, falling by 9.4% over the same period.
Whilst falling average prices and the continuing popularity of competitively priced Mini DV models underline the reasons for this decline, two key catalysts capable of delivering value growth to this market still exist claim GFK.
