STRATEGY ANALYTICS: Digital video technology breathes new life into camcorders
Presswire - July 13, 1998 13:43
Analysts forecast $3.1bn market in 1998 for new convergence platform
The latest research into new digital video storage technologies by Strategy Analytics (formerly BIS Strategic Decisions) shows that Digital Video Cassette (DVC) is the fastest growing segment of the camcorder market. DVC camcorder sales across Europe, the USA and Japan reached 1.4 million units in 1997, worth over $2.7bn at retail level, and will reach 2.0 million in 1998, worth $3.1bn.
These findings are taken from analysis recently released by Strategy Analytics (formerly BIS Strategic Decisions), the leading technology marketing consultancy, within its strategic advisory service, "Emerging Consumer Products and Services", which predicts new technology and media market opportunities on behalf of major industry players.
19% of camcorders sold in 1997 used the DVC system, which offers consumers the benefit of home video photography with near-professional quality images. It also allows users to edit their home videos in digital format on the home PC, bringing the age of PC/video convergence a step nearer to the mass market.
When launched in 1995, DVC camcorders were very expensive, and attractive only to affluent digital photography enthusiasts. Now, however, falling prices are helping to bring these digital camcorders into the mainstream. Strategy Analytics' research shows that the average retail price will fall by 17% in 1998, to around $1600. By 2001 the average digital camcorder will cost only $1000.
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