At the close of the CP+ show in Yokohama, the Camera & Imaging Products Association has forecast a 4% contraction in shipments of cameras and ‘related goods’ this year.


The official graph released by CIPA, tracking the 2023 camera market. (Source: CIPA.)

This coincides with a relatively uninspiring CP+ show that saw the release of only one camera, the Fujifilm X100VI (announced just before the show) and six lenses plus a number of minor announcements.  Total shipments of cameras were only 96.4% those of the previous year but, encouragingly, interchangeable-lens cameras were slightly up at 101.2%, with mirrorless cameras recording a two-digit growth at 118.6% of total shipments and accounting for 81% of the interchangeable-lens camera market. The only region to show any growth was China, which saw a 124.7% year-on-year growth. Global growth was only 96.4% year-on-year, suggesting overall market maturity. While rumours continue to circle concerning impending announcements from the major manufacturers, the fact that few of them took advantage of the only remaining major international show to announce new products, combined with the evidence of the CIPA figures suggests the pace of new releases is slowing.


The interchangeable-lens market for 2023. (Source: CIPA.)

Fortunately, interchangeable lenses remain a relatively strong market sector, with a total of 9,638,752 units shipped in 2023, 99.1% of the previous year. This represents an equivalent of 1.6 interchangeable lenses were shipped in 2023 for every interchangeable-lens camera. Lenses for smaller than 35mm cameras – APS-C and Micro Four Thirds – were shipped in higher quantities than the previous year, with this market sector showing 100.1% year-on-year growth.

Another announcement coming from CP+ is that it will still be ‘at least’ a few years before we can expect to see Sigma’s full-frame Foveon camera (this seems to be an annual announcement). The problem lies with finding a factory to manufacture the Foveon sensor, which is complex and quite different from regular CMOS sensors.  Sigma has yet to find a manufacturer that can do this.