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Even though the UK imaging devices market was worth £598 million in 2011, this is down by nearly a third from 2006, when it was worth £843 million. By 2016, the industry has been forecast to hit a valuation of £523 million.
This constant decline can be predominantly blamed on the fact that 8% of UK adults, or three million consumers, now say they are unlikely to replace their camera when it breaks, instead relying on their phones.
Although smartphone cameras do not typically match the quality of output of dedicated devices, the technology is consistently improving, as the quality of camera image output becomes too high for consumers to reliably distinguish between competitors.
Figures show that 80 per cent of us use a digital camera or camcorder, with 40% relying on them exclusively. This compares to the 45% who use their smartphone. The traditional film camera is used by just 8% of Brits.
Canon (UK) holds the top spot within the UK imaging devices market, with over 25% of the share in 2011. Canon is a recognised brand name throughout digital cameras and camcorders and it continues to improve its camera lines to fit consumer demands.
Canon has successfully held the DSLR corner of the camera market for the past few years, and its intensified digital zoom capabilities and high quality images have positioned it above other DSLRs. As a result of its DSLR innovation in 2011 and discussions to introduce a new touch screen capability in the near future, Canon's position within the imaging devices market has been strengthened, giving it the largest growth within the sector in 2011.
It is no surprise that Kodak's Ltd's share saw the largest decline in 2011, dropping from 5% to 3%, as Kodak not only filed bankruptcy but also stopped producing digital cameras, video cameras and digital picture frames in February 2012, and decided to shift its focus to its more profitable divisions such as photo printing and desktop inkjet printers.
Manufacturers within the UK imaging devices market must choose to either invest in a web service that complements captured photos or video, or to focus on including new, innovative hardware capabilities and modifications, to retain consumer interest.
For more information on the UK imaging devices market, see the latest research: UK Imaging Devices Market
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