Large Pool of the First Time Buyers to Give Meteoric Growth to the Asian Digital Camera Industry

PITAMPURA, India - April 4, 2013 - PRLog -- The digital camera market of Asia has grown considerably in the 2006-2012 period and presently represents 34.8% in the total shipments of the digital cameras across the globe. This makes the region the largest digital camera market in the world on the basis of the shipments. This is majorly because of the low penetration level of the digital cameras in countries such as India and China. These countries have a large population size but the ownership level of the digital cameras among the consumers is relatively very low as compared to the other developed markets. As a result the demand from the first time buyers has increased significantly in recent years in these countries. Secondly, because of the robust economic performance the spending capacity of the consumers in these countries has grown significantly in the last few years. This has encouraged the consumers to spend more on consumer goods such as digital cameras. The high growth in the number of the subscribers on social networking sites in the Asian countries has also fuelled the demand for the digital cameras among the consumers. The consumer in order to share best quality images with people in their network on these sites are seeking to buy digital cameras.

The demand for the compact cameras has grown strongly in Asian countries in recent years excluding Japan where the market for the compact cameras is maturing. The market in the Asian countries is driven by the price sensitive middle income group consumers. These consumers prefer buying an affordable compact camera instead of high end DSLRs. However, the rising consumer interest for interchangeable lens cameras is the latest trend in the region. Within the interchangeable lens camera category, the mirrorless cameras are rapidly gaining consumer attention and sales growth in countries like China and Japan. This is clear from the fact that the share of the interchangeable lens cameras in the total shipment of digital cameras to the region has increased significantly during the last six years from just 6.5% in 2006 to 24.4% in 2012.

“The combination of several macro economy and industry factors such as growing discretionary disposable incomes of the populations, low level of penetration among the consumers, increasing travel and tours by the consumers at exotic destinations, high growth in the social networking site users, higher marketing expenditures made by the camera companies and others have together resulted in high growth in the shipment of the digital cameras in Asia” - according to the research report ‘Asia Digital Camera Industry Outlook to 2017 – Driven by Rising Income and Low Ownership Level’ from Ken Research.

According to the research report, the contribution of Asia to the total shipment of the digital cameras in the world is expected to reach to 44.6% by 2017 which will continue the leadership of region as the largest digital camera market in the world.

For more information on the industry research report please refer to the below mentioned link:
http://www.kenresearch.com/consumer-products--retail/spec...