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Camera sales reports are quite significant for manufacturers. They not only showcase which brand is more popular but also the kind of cameras that are making a difference. Since the pandemic, things have changed a lot, and it appears that the photo industry may be finally seeing some positive returns. In all this, it also appears that Canon has made the largest profit yet again.
In a new report published in the Nikkei Industry Map Financial Yearbook, which was reported by DC Life, the company studied the global camera market between 2021 and 2024. The data also reveals that Canon managed to overtake other companies by a wide margin. Here is a quick look:
2024
- Canon: 2.05 million units
- Sony: 1.63 million units
- Nikon: 760,000 units
- Fujifilm: 490,000 units
- Panasonic: 160,000 units
- OM Digital: 130,000 units
2023
- Canon: 1.96 million units
- Sony: 1.53 million units
- Nikon: 630,000 units
- Fujifilm: 380,000 units
- Panasonic: 140,000 units
- OM Digital: 120,000 units
2022
- Canon: 1.54 million units
- Sony: 1.25 million units
- Nikon: 530,000 units
- Fujifilm: 360,000 units
- Panasonic: 140,000 units
- OM Digital: 140,000 units
2021
- Sony: 1.4 million units
- Canon: 1.17 million units
- Fujifilm: 400,000 units
- Nikon: 290,000 units
- OM Digital: 200,000 units
- Panasonic: 180,000 units
According to this report, the market showed that Canon was second before it took over and came to the top in 2022. The company has thus cemented its position as the market leader. While Sony remained stagnant, Nikon gradually added 100,000 units annually since 2021. Fujifilm is still a small player, with the company shipping just 490K units in 2024.
From the looks of it, DSLRs, mirrorless, and compact cameras have all contributed to the list. But as we have seen in other reports from CIPA, it is quite clear that DSLRs are dropping in numbers, with mirrorless and compact cameras having the best sales. Canon and Nikon began to make mirrorless cameras before 2020. However, it was only after this year that their cameras actually saw a huge success.
The report also tells us that Canon is playing the long game; they are working on mass production but also innovating newer technology. Models such as the Canon R50, the R5, and the R1 all showcase different features, each with some excellent features for users. Their entry-level models and the Powershot cameras, such as V1 and the reproduction of G7X Mk III, all prove that Canon is in for the long haul.
Sony’s stagnation could be due to the lack of newer models in recent years. They launched the Sony a7C II in 2023, followed by the a9 III a year later. This year, we only get the a1 II. In fact, the only model that we keep seeing over in the sales chart is the Sony ZV-E10 II, which is a vlogging camera. This only proves that Sony needs to try better. Just like Nikon. The company’s mirrorless range is excellent, and this has helped them to bounce back. The Nikon Z9, the Zf, and the Z6 III are some exceptional offerings in that matter.
Fujifilm has also performed well. They are, in fact, the only company that has shaken up the industry. Their offerings, such as the X-half and the GFX100RF, are innovative and compact, making one fall in love with photography again. Even older models such as the X-T5 and X100VI, and the newly launched X-M5 and X-E5 have been loved. As for Panasonic and OM Digital, both have some innovative models in the MFT segment, but they still are not as popular as the big three companies.
Overall, the photo industry is resilient. However, the demand for compact cameras and high-resolution sensors has driven the market for the past year. We aren’t sure how long this will continue. It is safe to see that it will help any company that follows this trail. Like Fujifilm did. Let’s see how companies work on this by next year.
