Global digital SLR sales are set to beat the credit crunch, growing 19% this year fuelled by falling prices, according to market analysts.
?Large like-for-like price declines had a significant impact on the market in 2007 with overall digital camera shipments growing 25% globally,? said a spokesman for Futuresource Consulting.
The company adds: ?In terms of 2008, growth, the DSLR market outlook looks particularly strong, with Futuresource projections showing growth of 19% to 8.9m units, equating to ?5.4billion worldwide – this is despite the credit crunch.?
However, the value of the photo industry may suffer as camera price competition heats up, adds the research.
?Continued aggressive pricing of compacts and DSLRs is having an impact on the value of the camera business,? said spokesman James Wells.
?Although, as margins continue to be squeezed, the industry will find it increasingly difficult to rely on price cutting to encourage consumers to upgrade,? he added.
The 6-7-million-pixel category has experienced the biggest price falls, with a drop in average price of nearly 8% over the past 10 weeks alone, according to the firm.
The price of cameras featuring 10MP or more, which account for the ?bulk of the DSLR market’, has dropped less than 3% over the same period.
Picture: For illustration purposes only