Imaging Devices in Venezuela - New Study Released

The supply situation in imaging devices was complex due to the shortage of brands in the country, which was exacerbated at the end of 2014 and in early 2015 due to increased demand over the holiday season and the Venezuelan government’s aggressive stance on private enterprise, which assumed there was an "economic war" waged by the private sector to create chaos and overthrow President Nicolás Maduro. Imaging devices therefore recorded a volume decline of 54% in 2015. Players were unable to quickly replenish inventories, which only covered demand for a few weeks, and there was little confidence that products would be available later with low levels of supply.

Competitive Landscape

Sony Latin Americ Inc ranked first in imaging devices in 2015, accounting for 32% of total volume sales. Panasonic de Venezuela was in second place overall with a volume share of 27%. Sony is perceived as a brand of quality products in Venezuela and it has a high penetration in the Venezuelan market. Traditional brands have maintained its presence in stores, but with lower stocks because of restrictions to imports.

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Industry Prospects

Imaging devices is expected to record a negative volume CAGR of 14% over the forecast period as consumers may lose interest in smart cameras as more connect to the internet through smartphones. Retail volume sales are set to continue to fall, with digital camcorders set to post the steepest decline, with a negative volume CAGR of 26% over the forecast period. The more direct sharing technology offered by smartphones, tablets and smart cameras is expected to increasingly be preferred by consumers who use social media sites, such as Facebook and Twitter, and other image sharing platforms, including WhatsApp and Instagram. The great popularity of social interaction through social networks in Venezuela is likely to maintain an interest in these products among an important group of consumers.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Imaging Devices industry in Venezuela with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Imaging Devices industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Imaging Devices in Venezuela market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth

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