Mirrorless camera market surged with over 40 per cent growth in volume and value across Southeast Asia in 2016
Singapore, February 27, 2017 – The mirrorless camera market segment in Southeast Asia* expanded by 45 per cent in volume to reach 421,000 units in 2016, corresponding to a growth in value by 51 per cent that reached US$287 million. On the contrary, the compact point-and-shoot camera segment registered the sharpest decline in both volume and value, by 38 per cent and 28 per cent respectively. The digital single-lens reflex (DSLR) segment took a slight dip of 8 per cent in sales volume while market value remained flat throughout the year.
The market trends point towards a bullish segment for mirrorless cameras within the overall digital still camera (DSC) market across Southeast Asia.
In Singapore, the overall DSC market contracted by 30 per cent in volume and 16 per cent in value in 2016, with the mirrorless camera segment decreasing in volume and value by 24 per cent and 11 per cent respectively. Despite the observation, the Singapore DSC market is expected to remain relatively stable due to the increase in the average selling price of cameras sold, echoing the same trend seen across the region.
“Many consumers today, especially the Millennials, are already very much accustomed to using smartphones to stay connected and access their social media platforms instantaneously. With smartphones offering the convenience to upload photos straightaway onto social media platforms, the overall sales of compact digital cameras will continue to be adversely affected,” said Gerard Tan, senior director, Technology Retail Tracking, GfK Asia. “Camera manufacturers therefore need to rethink about their product and value differentiation.”
With the world’s largest retail panel, GfK tracks products and delivers insights based on both retailer and reseller actual sales data, to help customers align product availability with the expected market demand, as well as to optimise product assortment, distribution and pricing strategy.
GfK was a key participating company at CP+ Camera & Photo Imaging Show 2017. Visit the event website for more details.
*Southeast Asia – consisting of Singapore, Malaysia, Indonesia, Thailand, and the Philippines
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