The company had seen the market shift from compact cameras to DSLRs, to mirrorless and very high-end imaging solutions since its entry into the Indian market in 2007, says Sajjan Kumar, Managing Director, Nikon India Private Limited.
Digital content creators and vloggers, who create and run blogs consisting mostly of videos, have emerged as the new customer segment for the imaging technology solutions industry during and after the pandemic, according to Sajjan Kumar, Managing Director, Nikon India Private Limited, a 100% subsidiary of Tokyo-based Nikon Corporation.
Mr. Kumar told The Hindu, “We are seeing a new market segment in India and globally evolving, especially after the pandemic, with more and more people pursuing hobbies around photography and videography. They start casual, using smart devices for stills or videos and then quickly become serious and migrate to high-end imaging solutions for better quality videos and stills.’‘
Traditionally, professional photographers/videographers, fashion, landscape, nature, wildlife, sports, and wedding spaces account for 80 to 85% of the customer base while the rapidly- emerging digital content creators and vloggers segment was growing at a CAGR of 25%, he added.
“Newer genres of photography are emerging with creativity seeking new horizons. Some of these include festivals, culture, heritage, holidays, and food,’‘ Mr. Kumar added.
India’s imaging solution market, currently pegged at ₹3,100 crore and led by players such as Canon, Nikon, Sony, Panasonic, and others, has been growing at 12 to 15% annually. In FY23, Nikon posted a revenue of ₹900 crore, a 17% growth from FY22 with the brand expecting 11% growth during the current fiscal.
Commenting on Nikon’s journey in India so far since 2007, he said, the company had seen the market shift from compact cameras to DSLRs, to mirrorless and very high-end imaging solutions since its entry into the Indian market in 2007.
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