Interchangeable-Lens Camera Market Will Be Driven by Upgrades & Phoneographers: Keypoint Intelligence/InfoTrends

Interchangeable-Lens Camera Market Will Be Driven by Upgrades & Phoneographers: Keypoint Intelligence/InfoTrends

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Weymouth, MA—Keypoint Intelligence – InfoTrends completed its 2018 U.S. Digital Interchangeable-Lens Camera (DILC) Market Study. InfoTrends has been conducting in-depth studies of the digital interchangeable lens camera (ILC) market since 2008. What started as a digital single-lens reflex camera (DSLR) market has evolved into two segments: DSLR cameras and mirrorless cameras (MILCs). Keypoint-InfoTrends-DSLRs-and-Mirrorless-102018Keypoint Intelligence – InfoTrends believes the distinction between DSLR and mirrorless system cameras is disappearing, given SLR-style mirrorless cameras like the Nikon Z7, Panasonic Lumix DC-GH5S, the Canon EOS M50 the Sony Alpha series and their positioning in the market. “As we look ahead, we believe that the market will become known as the DILC market, with the use of ‘digital’ being optional,” the company announced. “Interchangeable-lens cameras, regardless of whether they have a mirror or not, will have to compete mainly on features, benefits and price.”

Potential Interchangeable-Lens Camera Buyers

Moreover, the study finds opportunities among first-time-buying photo enthusiasts. In fact, the firm found 72% of those looking to buy an ILC in the next year don’t own one. “The pool of potential buyers will come from smartphone-only owners and point-and-shoot camera owners. In light of recent major mirrorless camera announcements, it is very encouraging to see that about 33% of smartphone-only owners and 42% of point-and-shoot camera owners are considering a mirrorless camera.”

Additionally, this year’s study found that 30% of all camera and/or smartphone owners are expected to move up to a higher level of photographer in the next five years. The report reveals that of this 30%, approximately 80% expect to be at a hobbyist photographer or a higher level. “Therefore, focus should be given to those who have outgrown their smartphones and/or are enthusiastic about taking photos. And those looking to advance to the next level of picture taking,” the company advises.

As a result of this research, InfoTrends recommends companies should continually offer new benefits to their customers. Furthermore, the ILC market is heavily dependent on owners replacing, upgrading and adding to existing equipment yearly.keypoint_logo_final_ko

“Hobbyists, advanced hobbyists, semipros and aspiring professionals are user segments that are very enthusiastic about photography and the equipment they own. Camera vendors will need to provide sufficient motivation in the form of innovative and compelling features, such as artificial intelligence, in new models as well as affordable prices,” the company added.

InfoTrends

InfoTrends is a leading worldwide market research and strategic consulting firm. It covers the imaging, document solutions, production printing as well as digital media industries. It provides insights and advice to help clients understand market trends, identify opportunities and grow their businesses.

Keypoint Intelligence

Keypoint Intelligence is a global data and market intelligence leader for the digital imaging industry. It employs more than 125 professionals around the world who provide planning and go-to-market services. These include market research, competitive intelligence, sales training, product testing, content creation and also customer engagement.

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