Compact camera market changes: Sony falls from market leader to seventh place

BCN R reveals changes in the compact camera market in newly released data. Sony has seen a significant decline in its market position in recent times, slipping from the former market leader to seventh place.

According to the data chart, as of October 2022, Sony is still the leader in the global compact camera market, with a market share of more than 22.3%. However, Sony's share continued to decline in the following months. By November 2022, Sony's market share has dropped to 17%. In May 2023, Sony's market share dropped to only 4.2%, ranking seventh in the market.

The main factor in market changes is the proportional composition of sensor sizes, according to BCN R. Before last May, 81.4% of Sony's sales of compact digital camera models came from cameras equipped with 1/2.3-inch sensors. Most of these models are relatively cheap. However, in May of this year, the proportion of models equipped with 1/2.3-inch sensors shrank to 23.0%, while the proportion of models equipped with 1-inch sensors rose to 76.5%. This is one of the reasons why Sony's market share has dropped sharply.

Overall, Sony has moved away from the market share battle with low-cost models equipped with 1/2.3-inch sensors, as these models accounted for the majority of the compact digital camera market. Sony's 1-inch sensor models still perform well when competing against brands like Canon.

Yuki Senior Manager, Sony Pictures Entertainment Division In response to a question about whether Sony will withdraw from the compact digital camera market, Saito said that the product lineup may change, but they have no intention of discontinuing compact digital cameras.

Sony's position in the compact camera market is undergoing significant changes and its market share is declining due to changes in sensor size. Despite facing market changes, Sony continues to adapt and continues to launch competitive products.

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