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Asia digicam market records growth in 2010

Veronica C. Silva | April 7, 2011
Tech savvy customers boost market by as much as 39 per cent

MANILA, PHILIPPINES, 7 APRIL 2011 – The market for digital cameras in nine Asian countries recorded double-digit growth last year compared to the flat growth a year ago, according to GfK Asia’s retail audit findings.

Whether in value or unit, the markets of Singapore, Malaysia, Thailand, Indonesia, Vietnam, South Korea, Hong Kong, Taiwan, and the Philippines posted growth of up to 20 per cent, mainly because consumers are increasingly becoming technologically savvy.

“The digital camera industry has indeed been revived in 2010 and this was especially apparent in markets such as Thailand and South Korea, where 2009 value sales dipped substantially by 25 and 15 per cent from the previous year,” said Jasmine Lim, regional account director, GfK Asia. “The industry achieved a commendable rebound in 2010 to perform even better than 2008, thanks to the pent up demands by tech savvy consumers for recent technologically advanced cameras introduced into the market.”

In value, the market grew by 20 per cent last year to while the number of units sold increased by 17 per cent to 8.76 million units worth nearly US$3 billion.

Geographic markets

The developing markets of the Philippines, Indonesia and Vietnam were at the forefront of growth. Consumers from the three countries bought 39, 28, and 24 per cent more units of digital cameras, respectively compared to 2009.

Developed Asian countries Hong Kong and South Korea were the two biggest markets among the nine countries included in the audit. Together, camera sales in these two countries reached US$1.35 billion.

Among the camera types that are a favourite are the compact cameras with fixed lens. Four in every five camera units sold last year were of this type.

Fifty per cent of the total volume of compact cameras sold last year with fixed lens retailed at US$200 or less, making it the most affordable type of digital camera in the market.

Another favourite are the “mirrorless cameras” with changeable lens. These cameras were particularly popular in Hong Kong, South Korea and Taiwan.

Lim noted: “The gradual hike in market share of these cameras over the last 12 months indicates the increasing acceptance level across the countries—a clear sign also that consumers are willing to pay a higher price for this recently launched compact system cameras.”

Lim is optimistic for the consumer market as she noted that they will have more choices this year as the industry tries to meet their demands.

 

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