Market research firm In-Stat reports that the Asia-Pacific digital camera market experienced a tremendous growth last year. Digital camera revenue in the 15 countries in this region increased by 14.2 percent to $5.26 billion. It is expected to reach $7.3 billion in 2009.
"The market escalation in 2004 was greatly fueled by strong domestic economic growth in the Asia-Pacific region," said Bryan Wang, In-Stat content manager in Asia. "As the Chinese market is still far from saturated, the momentum is expected to continue at least for the next several years."
A recent report by In-Stat found the following:
In 2004, Japan was the largest digital camera market in the region, and the third largest market sector globally, after the European and U.S. markets.
Australia and New Zealand together formed the third largest market of 1.65 million shipments in 2004, 8.5% of the total regional market.
South Asian countries, including India, Pakistan and Sri Lanka, are at the initial developing stages of the market today but are poised for extremely big growth in the near future.