Growing Market of Digital Camera
A digital camera is a camera that takes video and still photographs digitally by recording images via an electronic image sensor. In past few years this electronic gadget has gained its significance. Despite global economic recession the digital camera market is still going strong with sales estimated to be worth $155.0 and BCC Research even believes the figures will still grow to 230.9 billion dollars by 2013.
Digital photography products, which primarily include digital cameras, make up the larger market segment. Digital photography products generated $91.0 billion dollars in 2007 and are expected to rise further in coming years. The encouraging picture is the global market for digital photography is even expected to reach worth 230.9 billion dollars by 2013. It seem that the world recession and crisis are not bothering photographers as research shows the global market is set for another rise.
Today the Digital camera has gradually replaced the traditional camera. It avoids the need for film developing and offer best options to view recorded images immediately. The next best feature of digital camera is it also allows pictures to be shared worldwide via the Internet.
The majority of sales growth continues to be in the $200 to $400 range, where cameras are offering high resolution and more advanced features. However, the prices are also expected to further decrease as vendors yell for market share during the holiday shopping season. According to research firm International Data Corporation, with Sony, Kodak, and Olympus the early leaders, the market has an annual compound growth rate of 50 percent.
The largest market for digital cameras is North America. Japan is second largest for digital still cameras and Europe takes the third for digital video cameras. The opportunities moves across existing consumer markets along with the new markets for network-based cameras.
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