Increased Social Networking Activities to Boost Digital Photography Market
Digital photography employs an assembly of light-sensitive components to capture images focused by the lens in contrast to exposure on a light responsive film. The image which is captured is stored in digital form ready for digital processing (sizing, color correction, cropping etc.). The tools that enable digital photography constitute the digital photography market. The global digital photography market is expected to exhibit steady growth in the coming years to reach a total valuation of US$82.6 billion. The market comprises of products such as cameras, printers, digital photo frames, lenses, storage cards, and photo editing tools used in digital photography.
In the coming years, the digital photo printing market is expected to have a reduced market share and lose as much as US$300 million in revenue, whereas lenses and digital cameras will have increased demand due to their increasingly affordable prices.
Social Networking Opening up New Avenues for Digital Photography Market
Digital communication has changed the digital photography scenario, photo sharing sites, networking sites, and blogging sites, thus opening big business avenues for the digital photography market. Networking sites are continually coming up with new design features for photo sharing sections to offer consumers a rich and thrilling visual experience. Digital photography is also pursued by amateur snapshot photographers, who make use of convenient exchange of images by email or other digital communication means.The digital photography market is broken down into two broad segments – digital photography products and digital photography applications. The products segment includes photo processing equipment, camera cellphones, interchangeable lenses, and many more.
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Application-wise, the digital photography market includes photography software, photo processing, photo looks, etc. Geography-wise, the digital photography market includes North America, Europe, Asia Pacific, and Rest of the World. In mature markets such as the U.S., Europe, and some Asian countries, technological advancement and innovation could propel demand for digital photography. Replacement sales, aftersales service, and improvement in technology can contribute significantly to revenue in the digital photography market in these regions.
Wireless Connectivity to Drive Digital Photography to New Heights
In the digital imaging scenario, upgraded features such as connectivity with other devices can accentuate growth of the digital photography market. However, smartphones pose a major threat to digital cameras due to their seamless and instant image sharing capabilities.
To counter this, product manufacturers and vendors will need to bring innovation and technological advancement for digital cameras to have connectivity at par with camera phones and to stay in sight of superior devices.
Wireless cameras will drive the digital photography market to new heights. Digital and video cameras now have the potential to transform into networking devices to create new opportunities for wireless operators, film suppliers, and manufacturers. In such systems, digital cameras will have access to the Internet and PCs through wireless links, offering new levels of capability and convenience.
Digital photography has advanced applications in special industry sectors such as medical applications and surgeries in healthcare, manufacturing, photo kiosk market, industrial applications in automotive, internet-based photo sharing, etc.
Some of the major players in the global digital photography market are Sony, Canon, Samsung, Konica, and Minolta.
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