A quote from Nikkei's article "Digital camera penetration falls below 50%; smartphones emerge; domestic market unable to produce next generation":

"The penetration rate of digital cameras among households at the end of fiscal 2023 will fall below 50% for the first time in 19 years since the end of fiscal 2004. The demand for compact digital cameras has fallen as smartphone ownership has increased. Japan once had a strong presence in digital home appliances, but is now in a notable decline."

The penetration rate of digital cameras was 77% in 2012.

The latest Camera and Imaging Products Association (CIPA) data indicate that domestic shipments of digital cameras have fallen from 11.11 million units in 2008 to 910,000 units at present:

February 2024 CIPA numbers

The future according to CIPA: fewer camera shipped with higher prices

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Nikkei Japan published an article "Digital camera market grows for the first time in 13 years, halting shrinkage with smartphone replacement". Here is the article recap digicame-info:

• Research firm GfK Japan announced on the 18th that the domestic digital camera market in 2023 will turn positive for the first time in 13 years. Sales volume was 1.2 million units, an increase of 7% from the previous year. This was driven by products such as interchangeable lens cameras. The decline had continued due to the spread of smartphones, but this appears to have come to a halt. The digital camera market had been in decline since peaking at 10.4 million units in 2010.
• Looking at unit sales in 2023 by type, interchangeable lens cameras increased by 9%, and compact cameras increased by 6%. Interchangeable lenses also grew by 4%.
• This is the second consecutive year of positive growth for interchangeable lens cameras. The number of products over 100,000 yen increased, and the proportion of products in the 100,000 to 200,000 yen price range was 46%, an increase of 7 points from the previous year. The average price (excluding tax) rose 4% from the previous year to 172,000 yen.

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