How has the camera market changed over the past ten years?

Let’s rewind 10 years back to 2014. Manufacturers were launching system cameras (mirrorless cameras) such as the Sony A7S, the Panasonic GH4, the Fujifilm X-T1 and SLR cameras such as the Canon 7D Mark II. Sony had already unveiled the first mirrorless full-frame system camera in 2013. Its biggest competitors, Canon and Nikon, didn’t jump on the mirrorless full-frame bandwagon until 2018. So, were they too late to the party?

The biggest winners are two unknown manufacturers

With a market share of almost 40 per cent, Canon was miles ahead of every other camera manufacturer in 2014. As can be seen from our data, Sony and Nikon had a combined market share of around 40 per cent at the time. Today, it’s a different story. The formerly great Nikon has been losing market share every year, a figure that now stands at a modest 7.1 per cent. Sony, on the other hand, is a different kettle of fish. The Japanese company currently has a market share of 28.1 per cent, making it the market leader. It’s been holding on to its place at the top since 2019.

Surprisingly, Kodak and AgfaPhoto have overtaken Panasonic and Fujifilm to snag 3rd and 4th place. In any case, it’s surprising at first glance. Look a little closer though, and you’ll see their cameras tend to be priced somewhere between 50 and 250 Swiss francs. In terms of quality, these budget models from Kodak and AgfaPhoto can’t keep up. According to countless customer comments, most buyers end up giving the cameras to their children. When it comes to snap-happy tots’ first forays into photography, they seem to do the job.

Panasonic and Fujifilm are hot on the heels of these low-cost camera brands. With a market share of 8.6 and 7.4 per cent respectively, they sell more cameras than Nikon.

Increasing number of players on the lens market

These days, there are far more major lens manufacturers than camera manufacturers. In recent years, new brands such as Viltrox, Venus Optics, TTArtisan, 7Artisans and Samyang have come to the fore. These Chinese manufacturers are known for their affordable prices (except for Samyang, which come from South Korea). Together, they accounted for 10.3 per cent of total sales in 2023.

Although it’s been a long time since Canon was the number one camera seller, it’s the top player in the lens sector. With a market share of 22.6 per cent, the brand is about three per cent ahead of Sony. Potentially because third-party suppliers such as Sigma, Tamron or the Chinese brands mentioned previously produce more lenses for Sony’s E-mount bayonets than for Canon. With 105 different lenses, Samyang offers just as many lenses for the E-mount system as Sony itself. In contrast, there are only nine Samyang lenses available for the Canon RF mount (as of February 2024). Consequently, Canon customers tend to go for Canon lenses.

Another of the decade’s big winners is the Fujifilm X bayonet. In 2014, Fujifilm was scraping a low market share of just under three per cent. It’s since grown to 9.4 per cent, putting the Japanese company only just behind lens specialist Sigma.

Another remarkable development is that Digitec Galaxus is now selling almost three times more lenses per camera than it was in 2014. At that time, customers bought an average of 0.45 lenses for every camera sold. Céline Rusch, a purchaser for Digitec Galaxus’s computing category and former Product Manager for the camera category, believes there are a couple of reasons behind the trend: «With Canon and Nikon’s entry into the mirrorless system camera market and new lens mounts coming out in 2018, sales of new lenses increased. The launch of the Canon R5 and R6 in 2020 made an especially significant contribution to another sharp rise in sales. In the past, camera owners were able to keep their lenses for many years.» Comparatively inexpensive third-party brands also have a major impact on sales. People buy pricey full-frame cameras, but then can’t afford to – or don’t want to – fork out for expensive lenses produced by the same manufacturer. This also explains the success of Sigma, Tamron, Samyang and co.

Full-frame is state-of-the-art

Ten years ago, full-frame cameras were expensive and heavy. Today, the cheapest models cost less than 1,000 Swiss francs. As a result, cameras with large sensors are similarly popular.

In 2014, full-frame cameras made up 6 per cent of the market. Steadily increasing over the decade, the figure hit 24% in 2023. The only cameras to beat them in the sales rankings were those with smaller APS-C sensors. Cameras with APS-C sensors are particularly popular with beginners and price-conscious customers. Both the camera bodies and the matching lenses cost significantly less than devices with full-frame sensors. Devices with 1/2.3-inch sensors are also highly sought after, with budget-range newcomers Kodak and AgfaPhoto leading the charge. Cameras with medium format sensors are relatively new to the rankings. These devices, which cost up to 8,000 francs, are targeted at professional photographers. The cameras are only available from Fujifilm, Hasselblad and Pentax, and make up a market share of 0.4 per cent.

Trend towards more expensive cameras and cheaper lenses

These sales figures illustrate a clear trend: full-frame cameras and slightly more affordable APS-C cameras are proving hugely popular. Sony demonstrated savvy by taking an early decision to go in the direction of mirrorless cameras. Canon and Nikon, on the other hand, lost market share after they were slow to react to the system camera trend.

Good lenses have always been produced in Asia primarily. These days, however, the bulk of them don’t just come from Japanese factories. Chinese manufacturers are in on the action too. In fact, Chinese-made lenses are very popular with our customers because they offer good value for money.