Latest from the imaging market and new potential

These are GfK's latest findings on the occasion of photokina 2016 in Cologne.

A wide variety of imaging options, younger target groups, and changing requirements regarding image use and image quality ensure that the global imaging market will continue to develop dynamically with an increasing number of new applications.

This year, action cams and camera drones will generate global sales of over €2bn with their new target groups. Camera drones for the consumer market are recording particularly strong growth, with 10m being sold in 2016 for the first time. This equates to a global growth in volume of 150% and an increase in sales of 160%.

The global action cam market will also continue to grow in 2016 with sales exceeding 10m units. The number of units sold and sales will each increase by 25%. This growth is supported by constant product innovations in this segment. Virtual reality is creating an ecosystem of action cams, drones and video glasses, offering new possible links. Although the share of sales held by virtual reality action cams is still in single digits, their share of the market is growing rapidly.

Growth opportunities for high-quality cameras by standing out from smartphone photography

The developments in the imaging sector continue to pose a challenge to the conventional camera sector, as demonstrated by global market trends in the hardware sector, with digital cameras now accounting for only 36m units in the global imaging market. This corresponds to a share of 2.3%. Total global sales will fall by 15% to €13.4bn, a trend that is predominantly due to the SLR segment and simple compact cameras.

The Smartphone is increasingly replacing simple compact cameras as the new entry-level camera.Product concepts with significant added value compared to the smartphone offer promising potential growth in the camera market, with a stable trend in sales and clear growth.

For example, sales of high-quality WiFi-enabled travel zoom cameras in a price range between €250-500 remain stable in comparison to the previous year. They account for 10% of total compact camera sales. There is also a solid trend for compact cameras priced above €500. They already have a 21% share of sales. Compact system cameras costing over €1,000 are growing by 42% and now have a 37% share of sales of all mirrorless cameras. Sales of 4k cameras have quadrupled in comparison to the previous year. Their share of sales has thus increased to 11%.

Trading-up in the market for individually sold lenses

The aftermarket for interchangeable lenses is closely interlinked with developments in the camera market. The rate of 0.5 lenses for every camera body sold in 2013 will rise to 0.64 in 2016. The size of the market now already accounts for half of all sales of interchangeable-lens cameras.

Nevertheless, the global market for individually sold lenses is under just as much pressure as the camera market. However, the decline in lens sales is only 5%, leading to expectations of a global market volume of €4.2bn for 2016

Models for system cameras have a positive impact in this respect with continued clear growth of 14%. Their share of sales in the total lens market has increased from a fifth last year to a quarter. The average sales price of all lenses has continually risen in the last three years to the latest price of €510. There is also a visible trend for high-quality solutions in this area.