Digital Camera Market in India 2014

Digital camera market in India can be characterized with strong growth potential in the ensuing years. Currently, the market is mainly dominated by a handful of players and a cut-throat competition exists amongst these players. The market was valued at INR 17.5 bn during the fiscal year 2010 and is expected to attain a CAGR of 43% to reach INR 104.6 bn by 2015. Rising disposable income and increased consumerism primary boosts the market in India.

The report begins with a market overview, which provides an insight to the overall digital camera market. It describes the primary reasons which are propelling the market forward. The section also talks about the prevailing competition amongst major players and the market size and growth figures in India in terms of revenue as well as total camera units. This section also features Porter's five forces analysis of the digital camera market in India, thereby offering a clear picture of the market scenario and market entry barriers for prospective new entrants.

This section is followed by the technology section which enlightens the readers about the image sensors used in digital cameras for producing images. The sensors discussed in the report comprise of CMOS and CCD sensors. The section enlists the working procedures and advantages of these sensors, thereby providing detailed information about the Pros and Cons of each individual sensor. Distribution model section of the report briefly summarizes the various channels of product distribution, adopted by major players in the market to sell their products. It brings forth the present marketing strategies put in place by the players so as to increase their market reach and penetration.

Pricing strategy analysis of top three vendors in the market have been derived after an in-depth analysis of the players concerned. The list generated after the research offers valuable insight about the various lucrative segments in the market. This section also features a separate analysis column which helps in clearly distinguishing the prime product segments on which these vendors primarily emphasize on.

An analysis of the drivers and challenges explains the factors leading to the growth of the market including increased disposable income, declining prices, rise in e-commerce, increased travel plans and growing inclination for digital cameras. Strong opportunity exists in the market as increasing disposable income and higher consumption pattern drive the demand for digital cameras. This coupled with the fact that the increasing travel plans and constant decline of prices will lead to a developing market. Additionally, growing tendency to own a digital camera and to be able to share images online will fuel growth in this market. The key challenges identified are presence of grey market and emergence of Smart devices with camera features. Basically, grey markets sell products prior to their official launch at comparatively lower prices and hence consumers are attracted by the fact of getting the latest product first hand, which in turn reduces the revenue generated by the overall market. The unprecedented growth in adoption of smart devices capable of capturing high quality images is also a factor hindering the full fledged growth in the market. A majority of the population still prefer devices such as Smartphones as a substitute of digital cameras. The prime reason for this tendency happens to be the common notion to own a multifunction product.

Trends identified in the market comprise of introduction of mirrorless cameras, maintaining an India specific product portfolio, providing attractive features and specific focus on a particular range of products. Some of the key players in the market have introduced the mirrorless cameras in their product portfolio. This segment has attracted a lot of attention as these products have a comparatively lower body weight and are much more compact as compared to bulky DSLR cameras and hence owing to the portability quotient, these devices are finding a growing acceptability amongst both consumers as well vendors. It is also seen that most of the major players in the market India specific product portfolio wherein they price their products by keeping in mind the fact that India is a price sensitive country. Off late, the digital camera market has also seen the emergence of products with attractive features such as swivel LCD screens, direct image sharing over the internet, HD video recording and 3D imaging amongst other. Players are primarily incorporating these attractive features so as to lure consumers and gain a competitive edge over their competitors. Lastly, the key players in the market have exhibited a common tendency to bank upon a particular range of products. They spend a substantial amount of their operating expenses for the marketing of these products. This strategy is primarily adopted so as to increase brand visibility and awareness amongst consumers.

The competition section provides detailed information about the competitive landscape in the market and includes a detailed profile of the major players in the market. This section covers crucial information about the players such as their corporate information, business highlights, a brief history of their respective corporate activities and sales intelligence. It further elaborates on the player's detailed SWOT analysis and a comprehensive list of their product portfolio.

A separate section on the future strategies of key vendors is also included in the report which gives value added information about the future plans of the top vendors in the market. This section highlights the key areas which these vendors are currently focusing on, so as to generate a better amount of revenue and garner a larger share in the overall market.

The report concludes with a section on strategic recommendations which comprises of an analysis of the growth strategies of the digital camera market in India.