Production of digital cameras by CIPA companies 1999-2023

Looking at the total number of digital still cameras produced by CIPA companies each year from 1999 to 2023, we see a steep decline since 2010. In 2010, the production value stood at over 121 million units. However, in 2023, it had dropped to around 7.87 million units.

Production of digital cameras?

Like the famous photographer Chase Jarvis once said, "the best camera is the one that's with you". In this sense, everyone now carries a high-quality camera on their smartphone, reducing digital camera demand. In recent times, digital single lens reflex (DSLR) and mirrorless cameras have mostly been bought by photography enthusiasts and professionals.

Camera manufacturers

As the legacy camera manufacturers look to remain in the business, one solution has been to reduce the size of their photography segments to cut losses. A great example is Olympus Corporation, a well-known manufacturer of cameras since 1919, who sold most of their photography division to Japan Industrial Partners (JIP) in December 2020. Instead, the company are focusing on more profitable ventures such as scientific and medical imaging products.