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Digital photography market set to reach $82.5 billion by 2016

Industry Sector

Leisure

Published

17 May 2012

Author

Mike King

Type of News

Market

The digital photography market is set to reach $82.5 billion by 2016, a 3.8% compound annual growth rate (CAGR) between 2011 and 2016. This is a substantial increase on the digital photography markets valuation of $65.6 billion in 2010 and $68.4 billion in 2011.

Cameras and lenses account for the bulk of the digital photography market, representing 55% of global sales. This market segment was valued at $37.6 billion in 2011, and is expected to grow at a CAGR of 5.8%, reaching $49.8 billion in 2016.

Just 20 years ago very few people understood the opportunities within the digital photography market, and even fewer people could have foreseen the impact that digital photography would have on related markets. Even fewer would have predicted the rise of the microstock photography market and the proliferation and growth in Internet photo sharing sites.

While the impact on the photo processing market could have been predicted, many were surprised by how quickly the digital photography market has taken over from film. When digital cameras were introduced, the concept of customising merchandise with personal photographs was in its youth. A few firms offered customised products to customers who mailed in photographs. At that time the digital photography market was constrained by awkward and lengthy processes.

How things have changed. Today, the digital photography market, including cameras, lenses and printers, is a market valued at more than $68 billion. Photography services account for several hundred billion more in revenues and the opportunities for providing these services digitally have become big business.

This report, titled 'Digital Photography: Global Markets,' will provide an analysis of the digital photography market including an understanding of the primary products in the market, namely cameras and lenses, the products to print digital photographs, printers and kiosks and complementary products closely tied to digital photography.

For more information on the digital photography market, see the latest research: Digital Photography Market

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