CIPA reported August, 2023 numbers showing a decline of 65,063 units, but lens sales increased proofing the point that lens matter more than bodies.

    Historical data

    Sales took a major hit in 2020 with sales dropping from 8.5 million units shipped to just over 5 million, which has never recovered. Competition from smartphones continue to impact the market. Supply constraints cause by Chinese lockdowns continued to play a role in early 2023, but production is much better than previous years.

    YearCameras (millions)Annual DeltaLenses (millions)Annual Delta
    20225.927+10.8%9.7+1.6%
    20215.348+.074%9.55+6.1%
    20205.308-37.3%9-36.6%
    20198.462-21.4%14.2-21.1%
    201810.76-7.9%18-6.4%
    201711.68+0.6%19.22+.16%
    201611.61-11.1%19.19-11.6%
    201513.06-5.6%21.7-5.2%
    201413.84-19.2%22.9-14.2%
    201317.13-15%26.7-12.2%

    We expect 2024 to peak above 6 million unites as Canon plans two major camera releases. Having 47.5% market share, this will cause a bump in sales. Nikon, Sony and Panasonic are also expected to refresh and introduce new camera models as well as a series of lenses.

    Derek is a writer, video and stills shooter who has been in the video graphics industry since the 1980s. Derek is a founding member of the Camera Insider.

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