Digital camera shipments are declining year on year, and BCN Retail has published an article citing advancements in smartphone capabilities as the main reason. But is it really the main one?
It’s well known that digital camera sales have plummeted over the last few years, followed by shipments. CIPA figures show that in 2014 the number of digital cameras shipped was around 5,784,000, a number that dropped to just 912,000 in 2023.
After the COVID-19 pandemic, mirrorless cameras spearheaded the digital camera market. However, this was short-lived, and “dark clouds are looming over the market after prices for new mirrorless cameras rose,” says BCN+R.
While it is generally thought that the main cause of this decline is the innovative improvements in camera phone technology, it’s arguable that rising costs of cameras and accessories, coinciding with a cost of living crisis, is more likely.
Cellular phones have become a widespread everyday item over the last 20 years, and ownership rates of digital cameras for younger generations are falling rapidly, as it would appear that Gen Z and millennials prefer to kill two birds with one stone and get the best camera phones.
Equally, everyday life has become more expensive. And with camera phones taking up space in the digital camera industry, certain factors have caused the average price of digital cameras to almost double.
While camera phones get better, and recent older models get cheaper, digital cameras continue to rise in price. In 2022, the average digital camera cost about $623 / £488 / AU$974, which is more than twice the figure from three years ago, according to Nikkei.
The abilities and convenience of smartphone cameras, the cost of living crisis, and a decline in demand making digital cameras more expensive, have also coincided with the rise in popularity of the best retro cameras and inexpensive older models.
It’s anyone's guess which chicken or egg came first here, but what is clear is that the camera industry is going to have to work very hard to bring people back to the handheld camera as photography continues to become a hobby exclusively for the wealthy.
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