Why is the digital camera market recovering from a 90% decline? What is the 'value' that smartphones do not offer?
Japan's digital camera market is showing signs of recovery after a dramatic decline, attributed to unique qualities that digital cameras offer compared to smartphones.
The digital camera market in Japan is demonstrating a surprising resurgence, with annual shipments showing signs of stabilizing after a steep decline of 90% from its peak in 2008. A recent exhibition showcasing cameras and related equipment in Yokohama featured a record 149 companies, highlighting renewed interest in digital cameras despite the convenience provided by smartphones. In 2023, domestic shipments fell to a mere 910,000 units, significantly down from the 11.11 million units recorded in 2008. However, projections for 2024 indicate 1.01 million units are anticipated to be shipped, surpassing the previous year for the first time in seven years and maintaining a recovery trend into 2025.