Digital Camer’s To Get Cheaper As Market Grows

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GfK is forcasting 20% growth for the digital camera market in Asia Pacific in 2008 the predictions come as tradional CE brands like Samsung, Sony and Panasonic launch new digital camera products up against traditioinal camera brands such as Nikon, Canon and Pentax.

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.

 

Firstly, the downward pressure on prices has been most evident amongst the newer and comparatively higher priced formats, thus helping to make them a more attractive proposition. For instance, Hard Disk Drive Camcorders experienced a 17% fall in price in the year ending February 2008 compared to the previous year, whilst their share of overall value sales has grown from 17.1% to 36.9%.

Secondly, the growth of High Definition Camcorders is set to continue as both manufacturers and retailers strive to educate consumers on the benefits of this technology, together with decreasing prices creating a further incentive to trade up from Standard Definition Camcorders. Indeed the average price of a High Definition Camcorder has fallen from 28% since February of 2007.

Regional market developments:
Asia
Asia experienced a very healthy 20% growth in Digital Camera sales in 2007 compared to the previous year. Out of the 17 million Digital Cameras sold in the 13 countries that GfK audits, about 8 million were sold in China. Looking forward to 2008, GfK anticipates the Asian market will absorb 24 million Digital Camera units.

USA
2007 represented yet another peak; both for Digital SLR and Compact Digital Camera units in the United States. Unit volumes reached 34.4 million in 2007, an 11% increase from 2006.

Europe
The European markets are becoming more and more determined by the increasing demand in Eastern Europe – in particular Russia and Poland are boosting growth. For 2008 GfK’s Knoche expects 12 million DSC sales in Eastern Europe, which would represent about one quarter of the European Market.

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