Latest GfK data on the worldwide photo market in 2011

Technical innovations are the main reasons why consumers are happy with the latest digital cameras – even if they already own an older model. There is a particular demand for compact system cameras around the world, as Marion Knoche, Global Director of Imaging at GfK Retail and Technology discussed at the 2011 Imaging Summit. In addition, smartphones with camera and video functions are starting to influence the photo industry more and more.

Although worldwide there is a large number of photo and video recording devices already in the home, the demand continues to grow. There was a boom in the first nine months of 2011, particularly in Russia, Ukraine and Kazakhstan, where 35% was invested more in Photo Products as compared to last year. In Latin America, sales grew by 16% and 7% in India. The sharpest decline was seen in the Japanese photo market, which experienced a decline of 17%. This was largely due to the natural and nuclear disaster in March which had a significant impact on the economy. The high number of photo products owned by consumers was also a factor which contributed to the decrease in the market.

The relatively new digital compact system cameras are also driving the global market and up to now, have not cannibalized the demand for SLR models. The growth of these products has stimulated an increase in the DSC changeable lens segment (+17%); growth rates can be seen across all regions in the first nine months of the year. Furthermore, these products are boosting the accessories segment, in particular interchangeable lenses, bags and tripods.