British market research firm GfK has reported that sales of digital cameras in the United Kingdom have passed the 20-million mark. It also noted that two-thirds of all UK homes now own a digital camera since the gadgetâ€™s introduction in 1997.
And yet, thereâ€™s still more room to grow. GfK said the market is far from saturated; there are more folks who buy new digital cameras or trade up to newer models. This growth in digital camera sales has come at the expense of traditional cameras. In money terms, sales of film cameras have fallen 68% over the past year ending August 2006 with many retailers in Great Britain deciding to stop stocking analogue cameras in the last few years.
But with the growth in digital camera sales, the market research also revealed that despite more feature-packed cameras with greater pixel resolution, manufacturers and retailers are finding it difficult to increase the price of a camera; indeed, the average price of digital cameras has fallen from Â£464 ($870) to Â£169 ($317).
The UK digital camera market is worth almost Â£1 billion ($1.87B) annually; 3.3million digital cameras have been already sold from January to August this year.