The outbreak of Coronavirus (COVID-19) has not had a major impact on this category due to the already established shrinking market size in the review period. The increasing penetration of smartphones and faster expansion of the internet have affected imaging devices in different ways.
GoPro (NBO: Timing Technical) is expected to continue to overwhelmingly dominate digital camcorders in 2021. The performance of GoPro is set to contribute to the anticipated significantly slower dip in retail volume sales in digital camcorders, compared to digital camcorders, over 2021.
Electronics and appliance specialist retailers remains an important distribution channel for imaging devices. Digital camera and camcorder manufacturers and distributors are working closely with both chained and independent specialist retailers to draft marketing and sales strategies in this highly competitive category.
The outlook is gloomy for digital cameras, strong retail volume sales declines anticipated through the forecast period. With increasing penetration of smartphones offering increasingly advanced photographic capabilities, and the increasing availability of faster internet connections, consumers are finding it increasingly convenient to take, edit and share photos and upload them to social media platforms via their phones.
Meanwhile, digital camcorders is expected to return to positive retail volume growth in the forecast period. Smartphones tend to be less capable of substituting for the video quality of digital camcorders than for the photographic quality of digital cameras, especially for professional and serious enthusiasts.
How to bond with potential consumers during the pandemic when consumers spend more time at home remains a tough challenge for all players and physical stores. In this vein, the opening of more brand concept stores is growing as a strategy and being adopted by multiple players to bond with local consumers.
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Understand the latest market trends and future growth opportunities for the Imaging Devices industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Imaging Devices industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Imaging Devices research and analysis database.
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