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U.S. Imaging Market Facing Huge Declines Due To Smartphones
The US imaging devices market has been forecast to see value sales decline at a constant value compound annual growth rate (CAGR) of 8% through to 2017, while volume sales are also expected to decline by 7% annually over the same time period. This large decline in the market is predominantly down to the rise of the smartphone.
Furthermore, an abrupt drop in consumer spending, the prevalence of affordable cameras and popularity of online photo sharing have caused the US imaging devices’ market revenue to dip.
High-end smartphones, including the iPhone and high-end Android handsets, are capable of HD picture resolution and video recording with the optical quality of a typical point-and-shoot (POS) digital camera. The Nokia 808 Pureview, a product available to American consumers in mid-2012, boasts an advertised 41MP sensor – on par with many advanced digital cameras. Additionally, inexpensive digital image printing services from multiple smartphones are now available at many major drugstore chains and mass merchandise outlets nationwide.
Eastman Kodak Co controlled 18% of the digital imaging market in the United States in terms of total volume sales. This represented a significant decline from the 22% volume share in 2010, but was enough for the company to remain number one overall. The company’s still significant presence in the high volume, low value disposable cameras category bolstered its overall share in imaging devices.
Canon USA Inc held second place with 16% of total imaging device sales, up from 15% in 2010. Sony Corp was third with a strong lead in camcorders. Nikon Americas Inc was fourth place overall with a strong position in high-end digital cameras.
Manufacturers with an interest in re-stimulating sales in this category must focus on differentiating imaging devices from smartphones by having a strong focus on high end, game-changing innovation.
For more information on the US imaging devices market, see the latest research: US Imaging Devices Market
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