For decades now, Sony has been leading the camera industry. With its cutting-edge technology and commitment to pushing the boundaries of what is possible, Sony has solidified its position. From amateurs to professionals, photographers rely heavily on Sony’s excellent quality, dependability, and versatility.
Unfortunately, things have turned the other way around as the firm is reported to have dropped from the first position to seventh in the compact digital camera market. Recent data from the renowned Japanese research and market analyst firm BCN Retail (BCN+R) shows that the structure of the compact digital camera market has undergone major changes in the past period, and Sony has fallen from first in the market to seventh.
How Sony’s Compact Digital Camera Market Slump
As shown in the graph released by the research and market analyst, Sony continued to hold more than 22.3% of the market share for compact cameras in October 2022, making it the leading manufacturer at that time. But Sony’s share completely decreased in the following months. Sony’s market share for small cameras fell to 17% in November 2022. Sony’s market share in May 2023 was only 4.2%, placing it ninth overall.
The composition ratio of sensor size has seen the most significant market change, according to BCN+R. As of May of last year, 81.4% of sales were made by Sony’s 1/2.3-inch sensor compact digital camera models. Most models have affordable prices. However, the percentage of models having 1/2.3-inch sensors dropped to 23.0% in May of this year. Models with 1-inch sensors, which are rather pricey, made up about 76.5% of the total. One of the causes of Sony’s significant market share decline is due to this.
Despite this, Sony has generally backed away from the competition for market share with inexpensive models sporting 1/2.3-inch sensors, which constitute the majority of tiny digital cameras. The 1-inch sensor devices from Sony continue to do well on the market. These items still perform well when pitted against rival products from manufacturers like Canon.
Meanwhile, not too long ago, when asked if Sony would stop making compact digital cameras,
Given the development, we hope Sony will sit up tight to claim back its position.