According to 6Wresearch, the shipments for digital camera in India totalled 5, 00,477 units in Q1 CY 2013, with Compact Digital Camera representing lion’s share of the pie. The Indian digital camera market is dominated by Sony, Nikon and Canon with together of these constituting 95.3% market share in terms of unit shipments. Other players include Fujifilm, Olympus, Benq, Panasonic and Samsung.
Key Highlights (Q1 CY 2013)
In the Compact Digital Camera segment, Sony is the market leader. Whereas, in the DSLR segment Canon leads the market. Key factor driving the growth of the Indian digital camera market is availability of optimal features at competitive prices. Though, the digital camera market in India is still very attractive, but the growth of smartphones is now affecting the demand for digital camera market in India.
Growing competition in past few years has led vendors to launch feature-rich cameras at affordable price points. The competitive landscape for the digital camera players have undergone a major shift with reduction in prices over the last few years. It is seen that prices of digital camera in India has dropped extensively, especially in P&S segment , further 20%-30% price reduction is expected to be seen over the coming years. This will further bring tremendous opportunities for the players to increase their market share in the Indian digital camera market.
The Indian digital camera market is primarily driven by foreign players which leads to variation of product prices. Government of India should take initiatives to encourage manufacturing of digital camera in India which would reduce the price and further fuel growth of the digital camera market in India.