Gone are the days when Fujifilm and Kodak rolls would attract our eyes at every nook and corner of tourist places anywhere in India. With the new age storming with razor sharp digital technology, the once so popular, traditional analog camera for still photography with 35-36 shots has lost in oblivion.
Digital cameras have soon become the hottest buzz in the world of technology which belongs to all age groups. Digital cameras provide instant photographs, the most important feature most of the people look for, saving them the painful time and effort in development of hardcopies of the clicked photographs. Digital cameras are famous for the range, focus, accuracy, sharpness, reliability and clarity. While there are many digital cameras available in the Indian camera market, however when it comes to buying a digital camera people prefer trusted brands.
Digital cameras are also greatly accepted by professional photographers at tourist places. These photographers were major users of Polaroid cameras (used for instant photography). The average cost of developing a roll of 10 is Rs 300 and they price a photo in the range of Rs 40-Rs 50.
The imaging industry is changing rapidly with digital technology being widely practiced.
NIKON, SONY and CANON together captured more than 95% share of the overall India Digital Camera market. According to “India Camera Market Forecast & Opportunities, 2017”, Indian camera market will witness phenomenal compounded annual growth rate (CAGR) of 27% for next five years. The key factors for estimated rapid growing camera market in India are low penetration, increasing disposable income, rise of social media, rise in tourism and the exponential growth of marketing and advertising industry. On the flip side however, grey market & advent of smart mobile cameras are acting as restraint to growth of the camera market in India.
Further, the advancements in Digital Imaging and rising need for Smartphones over the traditional Point and Shoot Digital Cameras have resulted in increased growth opportunities for the Mobile Imaging market in India. As of today, the high-end Smartphones, also branded as Smart Cameras, are loaded with advanced features such as panorama, burst shot, optical zoom which makes them a priority and obvious choice for the Indian consumers.
As per 6Wresearch, India Digital Camera market shipments reached 1.62 Million units in CY 2014. The positive side is the increasing demand for Digital Single-Lens Reflex (DSLR) Cameras remains strong. However, the demand for Compact/Point and Shoot Digital Cameras have witnessed a declining trend. In CY 4Q 2014, Compact Digital Cameras registered a substantial decline of around 37% as compared to the same quarter previous year. However, DSLR segment recorded a growth of more than 19% in CY 4Q 2014 as compared to CY 3Q 2014.
Having said that, the technological advancements like3D camera and increased functionality like GPS, mirror-less camera, Bluetooth, Wi-Fi etc. in the camera is expected to reduce the substitution effect in the next few years.