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Canon thinks the camera market will drop by another 50% in two years

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Canon sees a grim future for the camera business. According to the company, the digital camera market is likely to shrink by half in the next two years.

In an article published by the Nikkei news, Canon’s president Fujio Mitarai talks about the future of the camera business.  This also tells us that Canon isn’t likely in any sort of rush to get 3-4 EOS R cameras to the marketplace, especially when the market is still declining.

Previously BCN released their 2018 sales awards for Japan. Canon dominates DSLR, Mirrorless and Lens markets capturing both the #1 position. Here is a recap of a recent interview with Canon’s president Fujio Mitarai:

  • Canon will shift its camera business focus to corporate customers
  • Camera application will increase in industrial fields such as surveillance and medical care
  • Canon sees the market for digital cameras shrinking rapidly in the future
  • The market for digital cameras could shrink by about 50% in the next two years
  • Two quotes (Google translation):

“In our company cameras have declined at around 10% a year (sales volume) in the past few years (combined with single lens reflex and mirrorless) The world market for interchangeable lens cameras is around 10 million, but decreased yhe mirrorless product is growing, but it is a replacement with a single lens reflex, it is not adding to the market as a whole ”

“People usually shoot with smartphones. The digital camera market will keep falling for about 2 years, but professional and high amateur (advanced) amateurs use about 5 to 6 million units. Finally it will hit the bottom. “

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Via Digicame-info