Digital still camera market still growing, driven by personalisation in APAC

Source: TechNavio.

TechNavio says the digital still camera market is expected to grow at a CAGR of 0.66% from 2013 to 2018, thanks to personalisation. Growth drivers include:

• An increase in demand for mirrorless interchangeable-lens cameras (MILCs)
• Increased replacement of old cameras
• Penetration of social media
• Decline in the price of low-end digital cameras

Said Faisal Ghaus, Vice President of TechNavio: “Purchases of new cameras in the coming years are likely to be influenced by the incorporation of new technologies such as touchscreen user interfaces, high-definition video, wireless connectivity, advanced image detection, and improved zoom lenses.”

TechNavio predicts that there will be an increase in demand for personalised and high-end digital cameras, and a shift in buying activity from developed nations to developing nations. 

“The digital still camera market in the Asia Pacific region is witnessing an increase in the demand for personalised digital cameras. Vendors are introducing personalised digital cameras in the market to meet end-user requirements such as advanced waterproof and rugged digital cameras in different colors,” elaborated Ghaus. "This trend towards targeting consumers with personalised products is also helping vendors better understand customer needs in order to design and introduce new products to increase their market share.”

Key vendors named in TechNavio's reports* include Canon, Nikon, Panasonic, Samsung Electronics and Sony.

*Digital Still Camera Market in the APAC Region 2014-2018 and Global Digital Still Camera Markket 2014-2018.