International Hartford Group Research Data on The Camera Industry

The globally reputed International Hartford Group recently did a research on the Camera Industry. This research covers wide spectrum of factors that affect the camera industry in detail.

The Current Scenario of Global Camera Industry:

Some of the findings of the report created by the International Hartford group are; the global camera industry generated sales to the tune of $60 billion in 2012. Among all the products of this industry cameras contributed the most for the sales, cameras amounted to more than 60% of the overall market. The group expects this sector to grow at a modest rate of 3% yearly. Other photographic products that were researched include camcorders, optical instruments, industrial optics and other photographic accessories.

The International Hartford Group rates China as the biggest market for cameras, with over 160 million units of digital cameras being sold in 2012; China is truly the growth driver of this industry. It is now safe to say that digital cameras will be the growth engine for this industry for the next 10 years.

Major Market Segments:

While the rate at which the sale of simple digital camera is growing is phenomenal, value wise this sector is actually fueled by the sales of DSLR cameras (digital single reflex lens). The US, the EU and Asia-Pacific are the dominant market for this product line. According to the report of International Hartford Group, Russia, India and China will see the most expansion over the next decade, as the EU and the US markets are already mature.

Internationally the commercial photography segment is expected to outgrow the hardware segment, as it is expected to represent a $11 billion industry by the end of 2015. The demand for this segment will predominantly be driven by advertising, social media and stock photography websites.

The sales of other cameras like gamma cameras which have extensive medical usage are also expected to grow rapidly. Currently the EU and the US contribute to most of the sales of these high end cameras.

Major Players of This Industry:

According to International Hartford Group, China leads the global digital camera market, followed by Japan and Taiwan. The industry leaders at the moment are Fujifilm, Nikon, Casio Computer, Canon Inc and Panasonic. Other major players who are posting attractive numbers are the Korean giant Samsung, HP, Sony and Toshiba. Japan’s Nikon generates 85% of its sales outside of Japan and around 50% of Nikon’s products are produced at OEMs.

Outlook For the Future:

According to International Hartford Group, this sector is highly unpredictable as the technology associated with photography is constantly evolving. With consumers expecting a lot more than what is on offer, the companies will keep investing more in research and development. This increase in R&D expense will decrease the net income of most companies. Another threat this industry faces is the threat from the smart phone industry. The number of people who use smart phones to take most of their pictures are on the rise, thereby affecting the growth prospects of the camera industry.

The globally reputed International Hartford Group recently did a research on the Camera Industry. This research covers wide spectrum of factors that affect the camera industry in detail.

The Current Scenario of Global Camera Industry:

Some of the findings of the report created by the International Hartford group are; the global camera industry generated sales to the tune of $60 billion in 2012. Among all the products of this industry cameras contributed the most for the sales, cameras amounted to more than 60% of the overall market. The group expects this sector to grow at a modest rate of 3% yearly. Other photographic products that were researched include camcorders, optical instruments, industrial optics and other photographic accessories.

The International Hartford Group rates China as the biggest market for cameras, with over 160 million units of digital cameras being sold in 2012; China is truly the growth driver of this industry. It is now safe to say that digital cameras will be the growth engine for this industry for the next 10 years.

Major Market Segments:

While the rate at which the sale of simple digital camera is growing is phenomenal, value wise this sector is actually fueled by the sales of DSLR cameras (digital single reflex lens). The US, the EU and Asia-Pacific are the dominant market for this product line. According to the report of International Hartford Group, Russia, India and China will see the most expansion over the next decade, as the EU and the US markets are already mature.

Internationally the commercial photography segment is expected to outgrow the hardware segment, as it is expected to represent a $11 billion industry by the end of 2015. The demand for this segment will predominantly be driven by advertising, social media and stock photography websites.

The sales of other cameras like gamma cameras which have extensive medical usage are also expected to grow rapidly. Currently the EU and the US contribute to most of the sales of these high end cameras.

Major Players of This Industry:

According to International Hartford Group, China leads the global digital camera market, followed by Japan and Taiwan. The industry leaders at the moment are Fujifilm, Nikon, Casio Computer, Canon Inc and Panasonic. Other major players who are posting attractive numbers are the Korean giant Samsung, HP, Sony and Toshiba. Japan’s Nikon generates 85% of its sales outside of Japan and around 50% of Nikon’s products are produced at OEMs.

Outlook For the Future:

According to International Hartford Group, this sector is highly unpredictable as the technology associated with photography is constantly evolving. With consumers expecting a lot more than what is on offer, the companies will keep investing more in research and development. This increase in R&D expense will decrease the net income of most companies. Another threat this industry faces is the threat from the smart phone industry. The number of people who use smart phones to take most of their pictures are on the rise, thereby affecting the growth prospects of the camera industry.

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