The digital camera market experienced a challenging year in 2019, with global shipments expected to drop 20%, according to a new industry report from Futuresource Consulting. However, the report notes that demand for premium devices is on the rise, taking some of the downward pressure off trade values.
“It’s been said before, but the continuing impact of smartphones cannot be overstated,” says Cameron Meldrum, Research Analyst at Futuresource Consulting. “With significantly improved imaging capabilities, they continue to cannibalise the fixed lens market, as well as eating into the lower-end DSLR segment. Tougher competition from mirrorless cameras has also been applying the pressure to DSLRs.
“Yet there are some rays of sunshine filtering through. Overall, we expect the average trade price to have risen by 9% year-on-year in 2019, hitting $489 due to stronger demand for premium devices. The mirrorless segment should also rise in value by 8%, achieving around $3.6 billion worldwide in 2019, once all the figures are in. Video-first mirrorless devices also had a standout year, with the Panasonic S1H becoming the first interchangeable lens camera to achieve Netflix Post Technology Alliance approval for shooting Netflix Originals content.”
Looking to the brands, Canon remains the overall market leader, with Sony in second position, closely followed by Nikon. In the lucrative mirrorless segment, Sony takes pole position, followed by Canon and Fujifilm.
“Digital camera vendors are operating in a mature market with many regional and demographic behavioural differences,” says Meldrum. “As trade volumes continue to trend downwards and value follows suit, market players will have to work both hard and smart to ensure future success.”
The Futuresource report, which evaluates the competitive landscape for fixed lens, DSLR and mirrorless cameras, drills down into 30 countries and regions, reporting and forecasting volume and value by camera type out to 2023. For further information, please contact Ben Thrussell via email@example.com
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