Adoption of new image capture devices
The growing adoption of new image capturing devices by professionals and advanced consumers is an important growth driver for Vitec’s Photographic Division.
Continued technological enhancements, premium mirrorless cameras, drones, VR/360-degree cameras and smartphones have drastically improved image capturing performance and are rapidly being adopted by professionals and advanced consumers as complementary equipment to traditional DSLRs. This has opened up a new opportunity for Vitec to develop and commercialise innovative, high end accessories that enable a competent creative public to obtain the best results from new image capturing technologies.
The democratisation of film making
The availability of highly portable hybrid cameras, coupled with the application of dependable WiFi technology, enables an interchangeable lens camera (“ILC”) to support instant content sharing and post-production, responding to the growing need for instant content both at professional and end user level.
We call this the democratisation of content production, a positive trend that is rapidly expanding the addressable market for Vitec and particularly the Manfrotto brand which offers a wide range of hybrid accessories across supports, lighting and carrying equipment.
Online distribution channels
The continued growth in online distribution channels for photographic products has continued to stimulate demand from new customers, particularly in emerging economies where e-commerce provides easier and faster access to a wider range of products and tutorial information.
Sales of cameras with interchangeable lenses
We are seeing more stability in the ILC market. Towards the end of 2016, production in Japan recovered from the earthquake earlier that year and we are seeing the continued upgrade in sensors and overall specifications of latest generation compact system cameras. This is driving a growing adoption of this format by advanced consumers and professionals alike.
In addition, the application of 4K video technology to both DSLRs and CSCs is attracting a growing number of content creators who can now produce high quality visual content in either still or motion picture formats with highly dependable, portable and affordable equipment. This positive trend is expected to further consolidate with the evolution of 4K into 8K technology which will enable the extraction of high resolution still images from video assets.