It’s no wonder why BlackMagic Design is pumping out 2 new Cameras. This report from Futuresource Consulting chronicles shows impressive growth especially in China.
Pro camcorder market volume returns to growth in Q2 2013, up 14%
The global* pro camcorder market enjoyed a positive quarter in Q2 of calendar year 2013 as market volumes increased by 14% from the previous quarter, according to new research carried out by Futuresource Consulting.
The market reached an all-time high in 2011, but has struggled to replicate this success since then and this welcome market uplift in Q2 comes after three consecutive quarters of decline.
“The pro camcorder market is becoming increasingly commoditised as lower end products are capable of much more than they have been historically, both in terms of image quality and functionality,” says Adam Cox, Head of Broadcast Equipment at Futuresource Consulting. “This is great news for end users who can get more value for money, but less so for vendors as ASPs are dropping significantly.
“Between 2010 and H1 2013, global ASP has fallen by over 20% – more than $1,000. However, if volume growth keeps up with the decline in price then the industry stays in a reasonable shape. Unfortunately, on a global level this is not the case. When looking at H1 2012 and the corresponding period in 2013, global volume dropped by 3% while market value dropped by 13%, the discrepancy directly caused by price erosion.”
There are positive signs in the global market, with decreasing ASPs striking a chord with emerging, price-sensitive markets such as China and India, which has resulted in significant growth in APAC. China is now comfortably the world’s largest market for pro camcorders and has experienced 19% volume growth between 2010 and 2012, while India is now the third largest market, after experiencing 189% volume growth over the same period. APAC accounted for over half the pro camcorder volumes in H1 2013.
“Volume growth in APAC is vital to the sector, as the more established major markets have either been showing only modest growth – 3% in Western Europe over the same time period – or are in decline – down 9% in the USA. This is partly due to prevailing economic conditions, but also due to market saturation and competition from DSLRs.
“In the short to mid-term the gauntlet has been thrown down to the pro camcorder vendors: give people a reason to buy cameras, and thus keep volume growth going, or face the consequences. Innovation is becoming increasingly important, especially as the threat from non-traditional products such as DSLRs continues to gain traction. Luckily, the pace of change in the professional video market is rapid. While 3D may not have lived up to the hype, 4K, wireless connectivity, HDR and HEVC are just some of the many technological advances that are permeating through the industry, giving pro camcorder vendors ample opportunity to develop significant improvements to camcorder performance and functionality.”
For more information about the Futuresource pro camcorder quarterly market track service, visit www.futuresource-consulting.com or get in touch with Adam Cox at Futuresource on +44(0)1582 500 100 or via adam.cox@futuresource-hq.com.
*please note that the Futuresource pro camcorder research currently excludes Japan.
Notes
Futuresource Consulting is a specialist research and knowledge-based consulting company, providing organisations with insight into professional display technologies, consumer electronics, digital imaging, entertainment media, broadcast, storage media, education technology and IT. With a heritage stretching back to the 1980s, the company delivers in-depth analysis and forecasts on a global scale, advising on strategic positioning, market trends, competitive forces and technological developments. www.futuresource-consulting.com
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