The Asia-Pacific digital camera market experienced tremendous growth in 2004 during a regional economic recovery, reports In-Stat. Digital camera market revenue in the 15 countries in this region escalated by 14.2%, to $5.26 bln in 2004. The regional digital camera market is expected to continue growing strongly to $ 7.3 bln in 2009. In 2004, Japan was the largest digital camera market in the region, and the third largest market sector globally, after the European and US markets. Australia and New Zealand together formed the third largest market of 1.65 mln 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.