22.5 mln digital cameras sold in Western Europe in 2004, 29.8 mln in 2005
Digital camera unit sales reached 22.5 mln units in Western Europe in 2004, and the market is expected to grow by 32% in 2005, reaching 29.8 mln units by year-end 2005, InfoTrends/CAP Ventures says. Although average selling prices for digital cameras declined in 2004, revenues increased by a staggering 42%. Revenues are expected to continue to increase by 29% in 2005 to total just over 10 bln euros. This makes Western Europe the largest digital camera market worldwide in terms of units sold and revenue. Household penetration of digital cameras remains quite low, reaching 26% in 2004. First time buyers dominated the market, representing 85% of all digital camera purchases. In 2005, the market will shift from the early adopter stage to an early majority market as household penetration of digital cameras reaches 39%. Although only a small proportion of the overall market, the digital SLR market was the fastest growing segment of the Western European market in 2004. The segment is expected to grow by 264% in 2005.