Camera Industry - Threats

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Introduction of Camera Market According to a new market report published by Transparency Market Research, the global camera module market was worth $12billion in 2012 and is expected to reach $43.06 billion in 2019, growing at approximately 19.7% from 2013 to 2019. Asia Pacific was the largest market for camera modules in 2012 with countries like China, India, Taiwan, Korea, Japan and Singapore supporting their growth. North America was the second largest market. However, the market is primarily driven by increasing application of camera modules in smartphones, tablet PCs, automotive sector and rapidly improving technology in the camera module market. Among different applications, smartphone and tablet PC sector is the largest and is expected to grow at the rate of 21.9% from 2013 to 2019, followed by consumer electronics (excluding smartphone and tablet PC) in 2012. It’s notable that smartphones are slowly killing the camera industry. Developments in sensor and lens technology have proven that consumers are turning to smartphones rather than picking up the traditional camera. For example, Canon, the world’s largest manufacturer of cameras, recently cut its sales forecast and profits for this financial year. According to the market research firm HIS, global camera sales have dropped to 115 million units this year, which is down by 4.3%. Besides, over the past few years, very little innovations have been made among camera manufactures. There have been instances where new cameras are outperformed by their older line-mates, so there is low desire to upgrade. Although new technologies such as mirrorless cameras were introduced, the situation did not change much. Because professional photographers already had an SLR, they are reluctant... ... middle of paper ... ...happy with it, he could avail himself with the other options. This would allow the photographer to assess the view and click the snap as per his requirement. Arrange complimentary tours to picturesque locations: This is an added service that could be provided to a handful of regular and loyal customers from all across the globe. Photography comes out as a passion to most people. Hence, to organize tours to locations that have picturesque sceneries could motivate the customers to remain loyal to the brand. This could also lead to positive evangelism, which could be beneficiary for the company in plenty of ways. By organising such tours, the company would also motivate newer customers to barge towards them. These are additional privileges that would be provided by the company. Hence, it could be made limited to the customers, based on the pricing range of the product.

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