Rising Replacement Demand to Energize North America digital Camera Market

PITAMPURA, India - March 30, 2013 - PRLog -- The North American digital camera market is experiencing lukewarm growth primarily because of the saturating market for compact cameras. The consumers in the US and Canada due to the higher spending capacity started adopting digital compact cameras much earlier than consumers in other parts of the world. As a result the ownership level of the compact cameras has reached maturity level among the consumers in these countries. Because of the maturing market, the demand from the first time buyers has been consistently declining during 2006-2012 in the US and Canada. However, these consumers are seeking to upgrade their old compact cameras with new advanced interchangeable lens cameras with higher quality imaging capability. This trend has grown significantly in last few years and is influencing the digital camera market of the region positively.

The camera companies are also introducing innovative features such as Wi-Fi, Bluetooth, interface for social networking sites and others so as to profitably covert the replace demand from the consumers in the region. Moreover, these companies are diverting their marketing budgets in product development and promotion of the interchangeable lens cameras which include DSLRs and mirrorless cameras. The interchangeable lens cameras are expected to contribute more than 50% of the total digital camera revenue in the region in coming five years.

“The adoption of the digital cameras among the consumers of these countries started much earlier because of the high spending power. The high level of ownership of the digital cameras especially the compact cameras among the consumers has resulted in significant decline in their demand which has reflected in the drop in the shipments as well.”- According to the research report ‘North America Digital Camera Industry Outlook to 2017 – Surging replacement Demand and Product Innovation’ from Ken Research.

According to the report, the shipments of the digital cameras in future years in the region would be largely driven by the growth in the consumer demand for the interchangeable lens cameras. The contribution of the interchangeable lens cameras is expected to increase to 57.7% by 2017.

The report “North America Digital Camera Industry Outlook to 2017” provides detailed overview on the digital camera market of North America. This report helps reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, digital camera companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.

For more information, please refer to the below link:
http://www.kenresearch.com/consumer-products--retail/spec...