Sales of digital cameras will reach $6 billion by 2002 and boost the semiconductor market by as much as $1 billion.
This was the prediction put forward by market research company In-Stat, which also sees higher revenue for those companies that provide software and services to the market.
According to Mark Kirstein, director of research for In-Stat's convergence group, shipments of digital cameras doubled in 1997, but major growth was also on the cards.
He said: 'The already significant price reductions of 30 per cent will accelerate, while digital image resolutions will soar to new levels.
'Competitors, ranging from traditional camera manufacturers and consumer electronics manufacturers to PC peripheral manufactures, are battling to define the future of digital imaging.'
Kirstein added that internet and multimedia PCs are also pushing the digital camera market ahead, and there are promises of future battles within the market over technology fronts, including em-bedded DRam memory chips and logic, compact flash, miniature card and mechanical drives.
The next few years will show which technologies are set to take advantage of the $6 billion market, Kirstein predicted.
Infrastructure provider says international sales now make up 51 per cent of its revenue
Suzanne Chappell of TMS plans sailing venture after selling Oxfordshire-based TMS to acquisitive Chess
Withdrawal of credit insurance by some providers a 'reflection' of current challenge facing IT sector, according to MD Steve Soper
SMART's UK managing director joins Lenovo to boost SMB business