The overall digital still camera (DSC) market in Singapore has shrunk by 26 percent in terms of total value in 2013 to reach US$179 million.
"As the camera technology in smartphones has been improving over time, consumers do not see the need to get a separate dedicated point-and-shoot camera," said the Gerard Tan, account director for Digital World at GfK Asia.
Despite the overall decline, compact system camera - also known as mirrorless cameras - reported a 2.6 percent growth in volume sales. According to GfK, over 53,000 units of mirrorless cameras were purchased in 2013, increasing its market share to 13 percent. Tan attributed the increase to "users who recognise the high tech functions and additional capabilities of mirrorless cameras over smartphones."
Given the widespread usage of social media, Wi-Fi-enabled mirrorless cameras are increasingly sought after as it enables consumers to directly upload pictures without connecting to a computer. GfK found that over 22,000 units of such cameras were sold in 2013. Tan anticipates "the popularity of Wi-Fi-enabled mirrorless cameras to continue as they become more affordable" due to increased competition.
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