The Digital Camera market in Europe is expected to grow at a CAGR of 6.56 percent during the period of 2013-2018
London, 28 July 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Digital Camera Market in Europe. The report indicates immense growth potential for the respective market during the forecast period thanks to the upsurge in demand for personalized digital cameras with advanced features.
Digital cameras can be classified into built-in lens cameras (basic point-and-shoots) interchangeable lens cameras like DSLRs and Mirrorless Interchangeable Lens Camera (MILCs).
“The digital camera market in Europe is witnessing an increase in the price of high-end digital cameras. Though the market is driven by sales of less expensive, low-end digital cameras, there has been an increase in demand for high-end digital cameras. Therefore, vendors are focused on introducing advanced digital cameras in the market to attract consumers into their buying cycle,” says Faisal Ghaus, Vice President of TechNavio Research.
Replacement Markets for Digital Cameras
The demand for digital cameras is observed predominantly in the replacement market because of the diminutive replacement cycle of digital cameras (about three to four years) and their dipping costs.
These factors encourage existing end-users to improve their old compact cameras with technologically advanced cameras that offer supplementary features at low prices eventually contributing to the market’s growth.
Moreover, the deterioration in the costs of premium interchangeable lens cameras has also led to increased demand among consumers thereby accelerating the market growth.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on Digital Camera market in Europe 2014-2018, please send an e-mail to media@TechNavio.com.
- Follow us on Twitter @TechNavio
- Like us on Facebook
- Follow us LinkedIn
- Connect with us on Google+
