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Photographic Equipment & Electronics Industry: Examination Of The Innovations That Occurred Since The Year 2000.

1340 words - 5 pages

For this writing assignment, I have selected Digital Camera Industry, which is a somewhat new industry, and its roots derive from Photographic Equipment & Electronics Industry. Here, I plan to examine the innovations that occurred since the year 2000 and determine which company or companies have innovated and what their impact has had on the industry. Also, I will talk about entry barriers to this market and major product differentiation campaign.Welcome to the new millennium. As you have noticed, many innovations rolled in as we entered the new century, one of them being a Digital Camera, which is currently a hot item and is on everyone's wish list. Before I go into details, let me first tell you about the Photographic Equipment & Electronics Industry. In late 1800's and early to mid 1900's, people used still film cameras that developed only black and white photos. In the mid to late 1900's, color photography dominated the market, and in late 1980's, the first instant color photo camera was developed by Polaroid. All these innovations were great, but it doesn't come close to what was developed in late 1990's and boomed in early 2000: the invention of a digital camera. Yes, it's true that the good quality digital camera is expensive, but that's just one of the things consumers have to think about in buying this luxury item.According to 2000 statistics, Sony, Olympus, Canon, Fuji and Kodak, which are the market leaders, capture about 65% of the digital market industry. Sony alone, the market leader, had 35% of revenues. In early 2002, the same five companies accounted for half of the total market; thus we see the fierce rivalry for digital cameras. We clearly see what has happened: new entry barriers (primarily from Asia and Europe) happened during these two years and they have made the market for digital cameras very competitive. In 1997, to most people, the digital camera was something "away in the future," but within months it became so popular that other companies (such as famous electronics and/or appliances makers) begun to copy the innovation. Although the Japanese company, Sony, was the "original" innovator of the digital cameras, the industry's market share was quickly spread amongst others. Today, there are hundreds of different digital camera makers, and most are not well known to the average consumer. Personally, I have no assurance in no-name digital cameras, but that's because I am a brand loyal consumer and I truly believe in recognizing the brand-name, which has a solid history with outstanding technological advancement to back up its name and reputation.A new study from InfoTrend Research Group projects that worldwide revenue from digital camera sales is anticipated to reach about $12 billion by 2007. Worldwide unit shipments of digital cameras (under $1000) will reach 24 million units in end of 2002, capturing 28% of total worldwide camera sales. Unit volume is estimated to grow at a compound annual growth rate of 16% to...

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