promuser digital camera market report

This month instead of publishing a full review of the CIPA digital camera market statistics we will just look at the most significant changes since last month's report. For a more in-depth analysis then look back at Global Digital Camera Market Report June 2016.

Expectations

In previous years we have seen an upturn in the shipments of cameras in July. This most noticeable in the shipments of Interchangeable Lens Cameras but also has been there for Fixed Lens Cameras as well. So would 2016 follow the same pattern?

We also want to see some signs from production figures as to the start of any recovery from the well documented April Earthquake problems and the subsequent loss of camera production. If so, can we see an end to the current decline in the Digital Camera Market.

Digital Camera Production

Production figures will give us the first sign that the camera factories are back up to full speed and indicate the quantity of cameras available for shipment in the following months. Looking at the overall production figures we can see that in a month where we would expect numbers to increase we got a -1.5% decrease in total cameras produced compared to the previous month. Same month year-on-year we see production fall in July by -53.2%.

Looking at the camera types we see that Compact camera production was down -5.8% month-on-month, DSLRs up 3.1% and Mirrorless down -0.3%. So then, no immediate signs of a recovery in production but rather a holding steady. If we then compare July production with the same month the previous year we see a different story. Compact camera production was down -64.9% month-on-month, DSLRs down -35.3% and Mirrorless down -37.4%. See the chart below for the effect this is having on the current production trends.

Global Digital Camera Production Unit Trend (K) by Type - 2014 to 2016

These figures for units produced really emphasize the declining nature of the Digital Camera Industry.

Global Camera Shipments

Without an upturn in camera production there will be no recovery in camera shipments. To emphasize the point we see from the bar charts below the worsening decline since the Earthquakes in April 2016. Overall camera unit shipments are down year-on-year by -51.1% for July.

Global Digital Camera Units Shipped Year on Year Change 2016

From a total market value point of view we can see the market is down -44.6% y-on-y for July.

Global Digital Camera Total Value Shipped Year on Year Change 2016

Global Camera Shipments by Geographical Zone

Year on Year Change by Month

Digital Camera Unit Shipments - % Change on Previous Year 2016

Americas and Japan had the least fall in digital camera shipments. Europe bore the brunt of the shortage in units along with Asia both being down over -50% from the same month last year.

Digital Camera Total Value Shipments - % Change on Previous Year 2016

Total value is also down but not by as much due to higher priced units being shipped in favor of low-cost compact cameras.

Global Camera Shipments by Camera Type

Year on Year Change by Month for Camera Type

Digital Camera Unit Shipments - % Change on Previous Year 2016

Year on year comparison for July 2016 shows another eye-watering decline in units shipped by -64.9% decline for Compact cameras. DSLRs see an increased fall of -30.3% whilst Mirrorless also showing a fall, but improved, in units shipped by -28.3%. When, if ever, will we see this declining level off?

Digital Camera Total Value Shipments - % Change on Previous Year 2016

In total value terms the picture is very much similar except Mirrorless have not fallen as much due to unit shipments declining less. However, Mirrorless have continued this month to show a further decline in average unit value, declining by a further -10%.

Conclusions

In view of the July figures we are seeing as outlined above there has been no recovery from the production woes brought about by the April Earthquake. DSLRs have been affected the least and some areas have had better deliveries. Overall there continues to be a huge slump in the digital camera market.

The slump comes even though some major new camera launches have taken place such as the Canon 1Dx MkII and the Fujifilm X-T2. These cameras have sold well so we will have to see if they lift the market going forward.

Given the poor production figures for July , August will not see a major rise in shipments. Hopefully, production will be back on track to support the major end of year holiday period.

DSLR vs Mirrorless

Production of new high-end DSLRs have put the average unit cost above the Mirrorless camera but the gap is once again closing. Mirrorless camera production has suffered more than DSLRs. Both types are shipping at way less than last year's figures.

Given the production issues it is very difficult to tell just which type is doing better. Shipments of DSLRs now stand at 2.85 per Mirrorless camera, down from 3.3 last month.