The camera industry experienced a significant downturn due to the COVID-19 pandemic. However, in 2023, the sector has seen renewed interest and growth, driven primarily by the lifting of lockdown measures and an increase in travel activities. China stands out as the leading force behind this revival, outpacing other regions and countries with an impressive 44% growth in camera sales.
Japanese camera manufacturers experienced significant growth in their shipments to China. The shipment value increased by 33.9% year-over-year, reaching 83.9 billion yen, while the shipment volume showed a growth of 26.7% year-over-year, totaling 710,000 units. According to the Japanese publication – Newswitch, it has seen a great increase in China’s camera market.
“The Chinese market is the driving force,” Tokunari says. “The overall market for cameras, which are luxury items, is growing.”
According to Sony’s president, Hiroki Totoki, sales in China and Asia are showing robust growth, and he specifically highlights that the camera market is performing exceptionally well in those regions. However, there are concerns regarding the economic slowdowns in Europe and the United States. These regions are not experiencing a demand recovery as strong as the countries in Asia. The camera market in Europe and the United States is facing some challenges, likely due to various factors affecting consumer behavior and economic conditions in those regions.
According to Newswitch, camera manufacturers have expressed concerns about the global economic slowdown, particularly in European countries and the USA, due to factors such as geopolitical tensions and conflicts. Manufacturers may anticipate fluctuations in demand and potential difficulties in maintaining a stable market situation. It’s important for camera manufacturers to closely monitor the economic conditions.
