Newly released figures from the CIPA industry body in Japan make for interesting reading, with premium mirrorless models showing strong growth
The latest annual data published by the Camera & Imaging Products Association (CIPA) shows that the market for new Digital Interchangeable Lens Cameras (DILCs) continued to grow in 2022. CIPA is an international industry association consisting of members engaged in the development, production or sale of imaging related devices, including digital cameras, and the DILC category includes DSLRs and mirrorless cameras.
Following a challenging few years, during which the market has been impacted by COVID-19 and a global shortage of semiconductors, DILC unit volumes grew 11% in 2022. While the market for Digital Single Lens Reflex (DSLR) cameras has continued to decline, with shipments falling 17% in 2022, this has been offset by strong growth of higher value mirrorless cameras, which were up 31%. Mirrorless cameras now account for 69% of the DILC market, according to CIPA. See the graph below for more details – DSC stands for Digital Still Cameras.
Analysis by used specialist MPB indicates that a continuation of these trends will see the DILC body market reach a retail value of $13.3bn in 2025, which is a positive result. This compares with $10.2 billion today and would exceed the previous market peak set in 2012, the company notes,
‘These CIPA numbers, based on the latest shipment data from major manufacturers, make a really interesting and positive story,’ MPB CEO, Matt Barker (below), told AP. ‘The numbers show a lot of growth and value in the market for new cameras, especially higher-end mirrorless models, over the last two or three years. It’s becoming a more premium market, which wasn’t the case three or four years ago. Adding in the value of lenses shipped, the value of the body and lens market is set to exceed $20m by 2025.’
With the growth now in higher-end, premium priced mirrorless models, with higher price tags to match, Matt also expects the market for used cameras and lenses to remain very buoyant. ‘We’ve just had our best-ever quarter, and although the growth is coming from people selling and buying used DSLRs as much as mirrorless, we expect DSLRs to make up only 5% of the market by 2026. This is a complete reversal from the trends we saw a few years ago’
Returning to new products, the CP+ consumer trade show is taking place in Japan from February 23rd after several years of Covid restrictions, and hopefully we will see some exciting new products being announced. Keep coming back to the site for the latest news.