It’s no secret that smartphones have killed the camera business over the past 10 years, but Canon says that the market may have finally hit bottom, so there may be a reason to be hopeful. It turns out that not even DSLRs are dead yet.
Canon just released its financial report for the second quarter of 2022, and it looks like it has some good news. In its report, the company says that the overall camera market has:
…largely bottomed out at its current size. Going forward, we expect the professional and advanced amateur segment to expand further and that products will become more highly developed. Accordingly, we expect the overall market to grow from now on.
This is great news because demand has been going down for a long time, and sometimes very quickly. Some people were afraid that it would fall so low that it would change the industry as a whole. Even though smartphones have become very advanced, it seems that Canon sees them as a way for many users to move up to more advanced gear.
In the past few years, we’ve seen a lot of lower-level products that focus on integrating social media features and making it easier to make content that’s ready to post.
Canon also says that as long as people want them, they will keep making DSLRs. It’s important to keep in mind that this doesn’t mean that new DSLRs will be made and sold.
I would be very surprised if the company made a new DSLR, but pros still use cameras like the 1D X Mark III, and I think the demand for these kinds of cameras will stay high for at least a few more years.