LensVid has completed their yearly infographic showing camera and lens sales for 2016. The drop in sales of compact cameras, DSLRs and lenses continues. Although, in total cameras shipped, the share of DSLRs actually increased in 2016 at the expense of compact cameras, mirrorless cameras saw a bigger share of the total pie as well.
2017 is predicted to show further decline of compact cameras, but we could see that the mirrorless and DSLR segments have bottomed out and may stabilize in 2017.
LensVid has summarized the following keys about the photography industry in 2016
- Smartphones killed the compact camera market
- Mirrorless are not fulfilling their promise
- The DSLR market is shrinking
- Cameras are for older people
LensVid predictions for 2017:
- In 2017 we can safely predict that the entire global market for cameras will drop below 20 million cameras (or 1/6 of what it was in 2010).
- Over the next couple of years camera manufacturers will continue to cut jobs – just like Nikon recently did after their announcement on major financial loses.
- We will also see less innovation as less and less free money will be available for R&D.
- The professional segment will get much more attention and camera and gear prices will increase (as production costs will rise due to the decreased production levels).