Indian Camera Market to Surpass USD 3 Billion (Rs. 1675 Crore) by 2017 Says TechSci Research

British Columbia, Canada, August 02, 2012 --(PR.com)-- Initially, photography was restricted to important events and special occasions but with the passing years, due to increase in social activities and enhancement of the social arena, photography has become a hobby, a passion for different age groups. Today, people like to capture almost every moment of their lives. The traditional film cameras have over the years disappeared from the market owing to the introduction of digital cameras. Since its inception, it has been regarded as a sensational technology overcoming various previous disadvantages. Digital cameras are the latest rage in the world of technology which transcends different age groups. The best thing about digital cameras is that they provide instant photographs.

According to recently published report of TechSci Research, “India Camera Market Forecast & Opportunities, 2017”, Indian camera market is anticipated to grow at the compounded annual growth rate (CAGR) of around 27% for next five years to reach USD 3 Billion (Rs. 1675 Crores) by 2017. The major reasons for growth of the camera market will be low penetration, increasing disposable income, increasing social media, increasing tourism, and increase in advertising. On the other side, grey market & substitute products like mobile cameras are acting as restraints to the camera market. However, technological advancements like mirror less camera, 3D camera and increased functionalities like GPS, Bluetooth, Wi-Fi, etc. in the cameras are expected to reduce the substitution effect in the coming times.

There are many digital cameras available in the camera market, but when it comes to buying a digital camera people prefer trusted brands. Indian camera market is currently led by Canon majorly due to increasing high priced DSLR sales. However, Sony is leading the high-volume compact camera segment. Purchase of camera through online websites is too on a rise, where currently 11% sales are generated from these channels.

Initially, the market of DSLR cameras was limited to professional photographers because of high price and its best picture quality offerings for their profession. But as time passed by and with the rising standard of living, Indians started looking for perfection where DSLR cameras saw its market. Technological advancements and increasing competition in the market has decreased the price of DSLR cameras. With DSLR cameras, one can upgrade the lenses of existing camera for better picture but with compact cameras this is not possible. Hence all the advantages of DSLR over compact camera are set to get its commendable recognition in times to come.

‘India Camera Market Forecast & Opportunities, 2017’ has evaluated the future growth potential of camera’s market and provides statistics and information on market structure, trends and opportunities. The report includes segmental market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in cameras market worldwide.