Digital imaging technology, introduced in the 1980s, has revolutionized the way organizations such as companies and governments organize and process their work and communicate with their stakeholders. The technology has also led to fundamental shifts in the ways individuals communicate with one another. The economic impacts of digital imaging, sales of imaging-related equipment and services, new markets opened, and productivity enhancements have been equally momentous.
Since BCC completed its last review of digital imaging technologies and markets in 1998, the digital imaging landscape has been transformed by the proliferation of digital cameras and other digital imaging devices such as digital photo-enabled cell phones; the widespread availability of broadband Internet connections; powerful new image processing and management software; and the deployment of new image display and output devices and technologies.
According to a soon-to-be-released report RG-292 Digital Image Sensing, Storage, Transfer from Business Communications Company, Inc, the global market for digital image capture, storage, transfer, and display devices and technologies was worth over $258 billion in 2004. This market is estimated at $305 billion in 2005 and expected to surpass $701 billion by 2010, at an AAGR (average annual growth rate) of 18.1% between 2005 and 2010.
Image transfer and display will remain the largest major market segment, with sales increasing from a current level of $164 million to over $302 million by 2010.
Conversely, image storage and management is the smallest (2004 sales: $26.7 billion) but also the fastest-growing major segment of the market, with a projected AAGR of more than 30% over the next five years. Flash memory was the most widely used technology for image recording and storage in 2004, accounting for nearly 60% of the market. However, magnetic image storage applications are growing faster (i.e., at an AAGR of 30.4%) and by 2010 are expected to account for over half of the market. Optical image storage is projected to remain relatively steady at 15-18% of the market over the next five years.
The global market for digital image capture devices and software is projected to grow from $105 billion in 2005 to $266 billion in 2010, representing an AAGR of 20.4%. The biggest driver of the digital image capture market is camera phones.
Hardware such as digital cameras, disk drives, and printers make up the bulk of the market followed by consumables including writable optical media, printer ink, laser toner, and digital paper. Software and services respectively account for only small shares of the market. The percentages shown for software include only standalone (chiefly high-end) digital imaging software. Many digital imaging devices come with bundled software, on which it is difficult to place a monetary value.
