Global Shipments Decreased by 21.7% Last Year
Projected to Decline by 23% to 11.67 Million Units This Year
[Asia Economy Reporter Seulgina Jo] As smartphone cameras continue to evolve with triple lenses and up to 5x optical zoom, the digital camera market has been taking a double-digit hit every year. Just two years ago, compact digital cameras shipped 1 million units per month, but now that number has been halved, and even mirrorless cameras launched by manufacturers like Canon and Nikon to keep up with the YouTube craze have failed to prevent market contraction.
According to the Camera & Imaging Products Association (CIPA) of Japan on the 4th, global shipments of digital cameras in 2019 amounted to only 15.21 million units, down 21.7% from the previous year. Shipments this year are also estimated to decline by about 23.3% to 11.67 million units. This is due to smartphones being equipped with wide-angle and ultra-wide-angle lenses, allowing users to easily take high-quality photos, and as a result, phone cameras have replaced the existing digital camera market just like MP3 players disappeared from the market earlier.
Last year, shipments of compact digital cameras were 6.74 million units, down 22% from the previous year, and this year (4.8 million units) is expected to fall to around 5 million units. An industry insider said, "Now digital cameras only have an advantage in image sensor size and zoom magnification, but in the compact segment, they have already been caught up by smartphones," adding, "Camera manufacturers are shifting their focus to high-end mirrorless cameras that use large image sensors."
Manufacturers including Canon have recently strengthened their lineup of high-end mirrorless cameras and action cams as video-based services centered on one-person media such as YouTube have gained popularity. Mirrorless cameras accounted for 26% of total shipments last year. However, even mirrorless cameras saw a decline in shipment volume (-4.4%), failing to prevent the overall market contraction. This directly affected earnings, with Canon Japan recently reporting a 49.1% decrease in operating profit as of December last year. Sony also recorded a slight decline in operating profit from April to December.
At MWC2020 held in Barcelona, Spain, at the end of this month, new smartphones unveiled by Samsung, Huawei, and others are expected to incorporate advanced camera technologies in large numbers. It is widely assessed that the position of traditional digital camera leaders in the general B2C market will inevitably become narrower going forward.
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