The digital camera industry has bounced back, with advanced enhancements such as artificial intelligence and interchangeable lens driving the average unit cost up to twice the 2019 price.
This is according to research from Camera and Imaging Products Association (CIPA), a Japanese trade group, who found that the average digital camera price in 2022 was A$925, globally.
This resulted in global digital camera shipments jumping 40 per cent in overall value last year, the second year of gains, after the smartphone market killed off the lower-end of the digital camera sector.
In 2008, the global digital camera market was worth A$23.5 billion, with 120 million units shipped. The average unit price then was A$195.8.
By 2020, the market was only worth A$1.6 billion, with just 22.8 million cameras shipped that year.
The focus on higher-end models has let to a recovery of sorts.
CIPA President, and Sony Group Vice Chairman Shigeki Ishizuka, said interchangeable lens cameras are becoming more popular.
“The spread of smartphones has made photography an everyday activity,” he said, “leading to a surge in skilled photographers that are gravitating toward interchangeable lens cameras.”
According to Nikkei Asia, combined operating profits at Canon, Nikon and Fujifilm’s imaging products segments reached a seven-year high of A$2.4 billion between April-December.
The three Japanese companies are shelling their wares this week at CP+ Camera & Photo Imaging Show in Yokohama, Asia’s largest photo and video equipment show, and the first event held in person since 2019.
“Younger generations are growing more interested in photography from interacting with lots of pictures on social media, while older fans familiar with single-lens reflex cameras are interested in new technologies behind mirrorless cameras,” Hiroyuki Ikegami, GM of Nikon’s Imaging Business Unit, said at the event.
“There’s growing demand for cameras not just for special events, but for a variety of uses including recording daily life,” said Go Tokura, deputy head of Canon’s Imaging Group.
