Digital cameras are a hard sell these days. Smartphones are coming equipped with better cameras, and the ability to instantly edit and share a photo from a smartphone trumps the slight edge that consumer digital cameras have in terms of quality.
One of Apple’s marketing campaigns for the iPhone 6 even centers on the quality of the camera. The campaign displays an array of spectacular images with the tagline “shot on iPhone 6”.
So in a bid to sell digital cameras, vendors are dropping prices left, right, and center. According to the US Council of Economic Advisors, the average selling price (ASP) of a consumer digital camera fell from $237 in 2006 to $187 in 2011. This number dropped again in 2015, to $175—just a fraction of the price of a smartphone or tablet.
But as consumer digital cameras approach obsolescence, the overall photography equipment market in the US is eking out moderate growth. The market was valued at $13.59 billion in 2015 and will reach $16.88 billion by 2020, growing at a compound annual growth rate of 4.43%.
Photography equipment market in the US by vendor 2015
Source: Technavio
Trusted, established names in photography like Canon, Nikon, Sony, Panasonic and Fujifilm account for nearly 50% of all market revenue.
But Technavio analysts have identified another 10 vendors keeping the photography equipment market in the US afloat.
Argus Camera
An American manufacturer of photographic equipment, the company originated as a subsidiary of International Radio Corp.
Bolex International
Bolex is a Swiss manufacturer of motion picture cameras. Founded in 1923 and headquartered in Switzerland, the company has been operating under Bolex International since 1982. The company now produces new 16mm and Super 16 film cameras and also can convert Bolex H16 Reflex models to Super 16mm. The Bolex camera is sold in the US by PROCAM, which is a Bolex facility-authorized service and sales facility.
Bron Elektronik
A Swiss manufacturer of flash equipment for photography. Founded in 1958 and headquartered in Allschwil, Switzerland, the company sells its products in the US through the distribution channel of Hasselblad Bron Inc. The flagship brand of the company is Broncolor.
Casio Computer
A Japanese multinational electronics manufacturing company. Founded in 1957 and headquartered in Tokyo, the company made some notable inventions for digital cameras, including the QV-10, the first consumer digital camera with an LCD screen on the back, the first true ultra-compact model, the first consumer three-megapixel camera, and the first digital camera to incorporate ceramic lens technology. The popular digital cameras by Casio include QV-Series, WQV-Series, EX-Series (Exilim), and TRYX.
Cosina
A Japanese manufacturer of cameras and lenses. Founded in 1959 and headquartered in Tokyo, the company distributes its products in the US through Cameraquest and Photovillage. The popular photographic equipment of the company includes Cosina Hi-Lite camera and Cosina 19-35 f/3.5-4.5 AF lens.
Eastman Kodak
An American technology company that concentrates on imaging products. Founded in 1888 and headquartered in Rochester, New York, US, the company has the business lines for digital imaging and photographic materials, equipment, and services. The company recovered and emerged from its bankruptcy in mid-2013 by availing itself of the financing approved by the court before which in December 2012, Kodak sold many of its patents for approximately $525 million to a group of companies (including Adobe Systems, Amazon, Apple, Facebook, Google, HTC, Microsoft, and Samsung) under the name Intellectual Ventures and RPX Corp.
Olympus
A Japanese electronics manufacturer specialized in optics and reprography products. Founded in 1919 and headquartered in Shinjuku, Tokyo, Japan, the company leads the global market of gastro-intestinal endoscopes with a revenue share of close to 70%. The company’s first launched camera was the Semi-Olympus I, introduced in 1936, and its first innovative camera series was Pen, introduced in 1959.
Ricoh
A Japanese multinational manufacturer of imaging and electronics products. Founded in 1936 and headquartered in Tokyo, the company operates its photography equipment business in the US under its subsidiary entity Ricoh Americas Corp., and its regional headquarters is situated in Pennsylvania, US. On October 1, 2011, the company acquired Pentax Imaging Corp. and established Pentax Ricoh Imaging Co. Ltd. On August 1, 2011, the company was renamed as Ricoh Imaging Co. Ltd
Schneider Optics
An American manufacturer of photography lenses. Founded in 1972, the company was previously known as Century Precision Optics and has been operating as Schneider Optics after the acquisition by Schneider Kreuznach in 2000. Currently, the company functions as a subsidiary of Schneider Kreuznach and has offices in New York and California.
Samsung
A South Korean multinational corporation and the largest electronics goods manufacturer globally. Founded in 1938 and headquartered in Seoul, South Korea, the company’s total revenue was equal to 17% of the country’s GDP in 2014 and produced almost a fifth of South Korea’s total exports. Samsung Electronics also ranks among the top 10 digital camera manufacturers globally.
