In Japan: Digital camera market will turn positive in 2023 for the first time in 13 years

After a decade long decline in 2023 the camera market did increase by 7% compared ot the previous year. I suspect the camera market sales will stay constant in the upcoming years with no meaningful increased or decreases. This is actually good news as it will make it more predicable for companies to stay in this market.

A couple of key info contained in the report (via Digicameinfo):

• Research firm GfK Japan announced on the 18th that the domestic digital camera market will turn positive in 2023 for the first time in 13 years. Sales volume was 1.2 million units, an increase of 7% from the previous year. This was driven by interchangeable lens cameras. The decline had continued due to the spread of smartphones, but this appears to have come to a halt. The digital camera market has continued to decline since peaking at 10.4 million units in 2010.
• Looking at unit sales in 2023 by type, interchangeable lens cameras increased by 9%, and compact cameras increased by 6%. Interchangeable lenses also grew by 4%.
• This is the second consecutive year of positive growth for interchangeable lens cameras. The number of products over 100,000 yen increased, and the proportion of products in the 100,000 to 200,000 yen price range increased 7 points from the previous year to 46%. The average price (excluding tax) rose 4% from the previous year to 172,000 yen.