Annual data from CIPA shows the camera and lens markets remained relatively stable with a strengthening mirrorless sector and a slight decline at the end of the year.
This graph compares worldwide camera shipments from Japanese companies over the past three years. (Source: CIPA.)
The latest figures show a steady increase in shipments between January and May, which appears to be seasonal (due to winter in the Northern Hemisphere) with a return to the average in June followed by a dip in August then rising in September, followed by a steady decline as the year ended. This pattern is quite different from the graph for 2022, although that, too, saw a drop at the end of the year – which is mid-winter in the Northern Hemisphere.
We’ve carried out our own analysis of the extensive figures released by CIPA on a monthly basis, to provide a ‘picture’ of the structure of the market with respect to production volumes and values. They confirm the overwhelming dominance of mirrorless cameras and relative decline in the DSLR market, which is now a smaller sector than fixed-lens cameras in both production volume and market value.
These two graphs provide a breakdown of the three sectors of the camera market – fixed-lens, DSLR and mirrorless – for both production volumes and production values.
Overall shipments of mirrorless cameras increased by 18.5% in terms of numbers and increased by 11.3% in terms of value, while shipments of DSLR cameras fell by 36.7% in terms of numbers and increased by 34.5% in terms of value. Shipment of fixed lens cameras also decline by 18.3% in terms of numbers but increased by 9.3% in terms of value, indicating a shift in consumer preferences for higher-featured, more expensive models.
In the lens market, production of interchangeable lenses for cropped-sensor cameras (APS-C and M4/3) outstripped that of lenses for full-frame or larger cameras from March on, becoming increasingly dominant towards the end of the year. In contrast, shipments of lenses in both sectors were roughly parallel in April, August, September and October, with the larger lenses dominating in January but the smaller formats ahead in the remaining months.
These three graphs provide a breakdown of the two sectors of the interchangeable-lens market – full-frame and larger and APS-C and M4/3 – for both production volumes and production values, along with a comparison of both.
Shipments of interchangeable lenses fell slightly by 2.8% year-on-year in terms of numbers but increased by 6.1% in terms of value. The graph below, which is sourced from the CIPA website, provides a comparison of monthly fluctuations.
The 2023 results point to an overall stabilisation of the camera and lens markets with a growing mirrorless sector and strong incentives for manufacturers to continue to cater for consumer preferences. The decline in the DSLR sector is more than compensated for by the strength of the mirrorless market and is likely to continue. The market for fixed-lens cameras will probably remain the same as long as manufacturers continue to produce the kinds of cameras buyers in this sector want.
We will likely have some indication of where the market will go in 2024 when we see the new releases announced in the lead-in to and at the 2024 CP+ Camera and Photo Imaging show, which will open on February 22 in Yokohama, Japan.
