Canon is still the world’s most popular camera brand, according to a new report – despite Sony and Nikon winning the tech battle
Is innovation enough?
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Nikon,Sony,FujifilmandPanasonicmay have given us thebest mirrorless camerasof 2023, but a comparatively modest year for Canon didn’t stop it from grabbing the largest global market share of cameras last year, according to a new report.
According to recently published market data from Nikkei and Statista,Canonstill comfortably comes out on top on all key metrics, including market share and sales volume, for both mirrorless cameras and digital cameras as a whole.
TheNikkei report(viaSony Alpha Rumors) says that the global mirrorless camera market share in 2023 was divided like the pie chart below, with Canon taking 41.2% of shipments and Sony not too far behind on 31.2%. Nikon and Fujifilm took 8% and 5.5% respectively.
In another report byStatistathat covers the market share by sales volume of the leading digital camera manufacturers worldwide (as of December 2023), the numbers differ but the positions remain the same and are even more heavily skewed in Canon’s favor.
In that report, Canon takes a 46.5% market share, compared to 26.1% for Sony and only 11.7% and 5.8% respectively for Nikon and Fujifilm. This is all during a year when Canon only gave us three low-cost models: theEOS R8, EOS R50 and EOS R100, plus thePowershot V10which is a new vlogging camera. We also even labelledthe EOS R100 as the worst camera of the year.
Canon was already the biggest name of the leading camera manufacturers, but the percentage of its market share in 2023 still feels surprising. So what are we to make of these numbers?
Is innovation enough?
In theTechRadar Choice Awards 2023, we awarded theSony A7R Vas the best mirrorless camera for pros, theFujifilm X-S20as the best for beginners, and thePanasonic Lumix S5 IIas best for video, with an honorable mention to theNikon Z8. There wasn’t a Canon camera in sight. However, this hasn’t dissuaded shoppers, according to market share data.
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Other brands like Sony and Nikon won the tech battle in 2023, delivering innovations such as theSony A9 IIIwith the first global shutter in a mirrorless camera. And Nikon experienced a positive upturn in sales following the Z8, and it hopes tofurther bolster its market share after the acquisition of RED cameras.
However, none of this stopped Canon’s dominance of the market in 2023, which could further improve in 2024 now theEOS R5 Mark II and EOS R1 have been announced. (AlthoughFujifilm might have something to say about that with its wildly popular X100VI, assuming it can ship enough of them).
If Canon wasn’t impressing the industry with tech innovation in 2023, why is it still taking the lion share of the market? Beyond it being the leading name and any loyal customer base (and the fact that 2023’s market share isn’t only made up of cameras launched in 2023), I believe a factor is that it was the only one of the top three brands launching low-cost models.
Nikon delivered the Z8 andZf, both superb full-frame cameras that costs thousands, while from Sony we got the likes of the ZV-E1,A7CRand A9 III – again costly full-frame models for pros.
At the same time, Canon launched its cheapest ever mirrorless camera, the EOS R100, plus a super affordable full-frame camera, the EOS R8. These cameras didn’t excite, but perhaps they were the smartest business moves of all. Meanwhile, Fujifilm gave us a range of models in 2023 at all price points, but limits the number of units it produces.
While many assume the low-end of the camera market has been decimated by smartphones, perhaps there’s still life in thebest cheap camerasyet. I’d like to see Nikon and Sony give more options for beginners – they’ve both neglected that part of the market recently. Doing so might shake up the market even more.
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Tim is the Cameras editor at TechRadar. He has enjoyed more than 15 years in the photo video industry with most of those in the world of tech journalism. During his time as Deputy Technical Editor with Amateur Photographer, as a freelancer and consequently editor at Tech Radar, Tim has developed a deeply technical knowledge and practical experience with cameras, educating others through news, reviews and features. He’s also worked in video production for Studio 44 with clients including Canon, and volunteers his spare time to consult a non-profit, diverse stories team based in Nairobi. Tim is curious, a keen creative, avid footballer and runner, and moderate flat white drinker who has lived in Kenya and believes we have much to enjoy and learn from each other.
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