The European “convergent” pro video market, consisting of DSLRs, mirrorless and “video-first” cameras being sold into professional video was worth €129m in 2023. When pro camcorders are included, the value of the total pro video acquisition market increases to €267m.
Annual sales volumes in 2023 of the “convergent” pro video market decreased by double digit figures compared to 2022. Key to the decline of the “convergent” market has been the WGA and SAG-AFTRA Hollywood strike, particularly toward the latter end of 2023.
The core user base of convergent products are independent videographers and freelancers, who rely heavily on business from production studios. With pro video production in the UK, Germany, Norway, and other European countries being heavily tied in with North American video production, studios in these countries also ceased activity throughout the strike period, resulting in a work drought for many videographers and freelancers.
On top of this, DSLR sales continue to decrease rapidly in 2023 vs 2022, as end users continue to recognise the benefits of mirrorless cameras and interchangeable lens camcorders. This has lead to an overall decline in DSLR volume in the “convergent” market. However, this decline has not been as fast as the uptake of mirrorless cameras used in pro video applications, further contributing to the overall volume reduction of the total “convergent” market.