Digital Photography Market Worth $230.9 Billion in 2013

November 6, 2008 | Mark Goldstein | Global | Comment |

Digital Photography Market Worth $230.9 Billion in 2013The global market for digital photography technology will be worth $230.9 billion in 2013. According to a report by BCC Research, it was worth $136.7 billion in 2007 and an estimated $155.0 billion in 2008. Digital photography products are the larger market segment, generating $91.0 billion in 2007. The markets are substantially larger than they were in the past because a much greater number of people are more passionately involved with digital photography than with silver halide photography.

BCC Research Press Release

Wellesley, Mass—According to a new technical market research report, THE DIGITAL PHOTOGRAPHY MARKET (IFT030B) from BCC Research, the global market for digital photography technology was worth $136.7 billion in 2007 and an estimated $155.0 billion in 2008. This market will increase to over $230.9 billion in 2013, a compound annual growth rate (CAGR) of 8.3%.

The market is broken down into digital photography products and digital photography applications. Digital photography products are the larger market segment, generating $91.0 billion in 2007. This segment is expected to increase to $101.3 billion in 2008 and $130.6 billion in 2013, for a CAGR of 5.2%. Digital photography products include digital still cameras, interchangeable lenses, photo processing equipment, photo printers, image sensors, camera cell phones and storage products.

Digital photography applications have the second largest share of the market, worth $45.7 billion in 2007 and an estimated $53.7 billion in 2008. This should reach $100.4 billion in 2013, for a CAGR of 13.3%. Applications include professional photography, traditional stock photography, microstock photography, photography software, photo processing, photo books, surveillance and security, automotive, machine vision and medical visualization.

Before the advent of the digital camera, photography related markets would have included the cameras, interchangeable lenses, film, film processing equipment, photo printers, scanners, and some storage products. However, the introduction of the digital camera changed all of these markets in some way. Overall, the markets are substantially larger than they were in the past because a much greater number of people are more passionately involved with digital photography than ever were with silver halide photography.

Additionally, digital cameras have made possible new applications in areas such as online photo sharing, customized digital photo products, microstock photography and camera cell phones.

Source:  BCC Research, Camera and Imaging Products Association (CIPA)



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