Global digital camera manufacturers market share 2023

Canon dominated the global digital camera market in 2023, accounting for nearly half of it. Sony and Nikon followed in the ranking, with 26 and 12 percent of the market, respectively. Panasonic recorded a market share below five percent.

Canon

The Japanese multinational corporation is specialized in optical, imaging, and industrial products, and its history dates back to the late thirties when its predecessor Precision Optical Instruments Laboratory was founded. Canon’s sales fluctuated over the years and they peaked in 2007, reaching nearly 4.5 trillion Japanese Yen. As of 2021, Canon’s sales amounted to roughly 3.5 trillion Japanese Yen.

Camera shipments

Camera shipments peaked in 2010 when vendors shipped over 121 million digital still cameras shipped. The camera market has only declined since that time, likely due to the global rise of smartphones, and advancement in smartphones camera technology. Nevertheless, nearly eight million digital still cameras were shipped globally in 2021. Prices of digital cameras are expected to remain relatively stable in the coming years and an average camera cost 190 U.S. dollars in 2023.