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Mirrorless cameras refer to a camera that uses a single removable lens and employs a digital display system instead of an optical viewfinder.
Mirrorless cameras utilize an image sensor to display an image acting as an electronic viewfinder. These cameras are relatively smaller, lighter and more manageable than its counterpart the DSLR cameras.
In March 2004 Epson launched first Mirrorless camera with Lecia M-mount lens called “R-D1” Although it had a drawback of Live Previewing the Photo. Then in October 2008 Panasonic launched fully functional Mirrorless camera Lumix DMC-G1 with a new tech called Micro four thirds System exclusive for this category.
Later big players like Sony, Nikon, Canon, Samsung and Fujifilm entered this market and carried out many product innovations in order to create a niche for themselves in this relatively new market.
The most popular Digital Camera from the point of volume of sale currently in the market is DSLR (Digital Single Lens Reflex) and Mirrorless Camera. The only difference between these two is that in DSLR, light from lens gets reflected by the mirror up to prism and then falls on Image sensor, Image Previews in screen.
But in Mirrorless Camera, the light from lens directly falls on Image sensor then previewed on screen / some cameras will have an Electronic viewfinder. Hence making Mirrorless Camera more Compact, lighter and faster.
The most revolutionary part was the Electronic viewfinder in Mirrorless camera giving attention to detail while capturing a Photo and way better than Optical viewfinder.
In 2019, the Mirrorless camera shipments was nearly 11% Globally compared to Total Camera Shipments. The Digital camera sales came down by 87% globally from 121mn units to 15mn units, due to rise in Smartphone Industry which could be a possible threat to the entire Digital Camera industry however, rise in vlogging and content creation has witnessed a rising demand for the product in the recent years which is expected to turn out fruitful for this market genre.
Global shipments of Mirrorless cameras by Japanese makers grew 29.2 percent in 2017 from the previous year, while those of SLR cameras fell 10.1 percent in the same year.
The growth of the mirrorless camera market share in APAC can be attributed to factors such as strong manufacturing activities, increasing shipments of mirrorless cameras, and the entry of established brands in the region.
Mirrorless camera market has grown substantially in terms of unit shipments and revenue. In the year 2019 over 8.66 million of interchangeable lens cameras were shipped and in those 3.94 million were mirror less cameras.
Players that are already offering mirrorless cameras are likely to extend their product offerings to cater to the rising demand. Therefore, the global mirrorless camera market is set to expand at a healthy pace during the forecast period.
In 2018, global shipments of single-lens reflex cameras declined by about 16% year-on-year to 6.22 million units, while mirrorless sales increased by about 3% to 4.28 million units.
The global mirrorless camera market is estimated at $XX Billion in 2022 growing at –% CAGR till 2027.
North America
The North American market, particularly the USA, will be one of the prime markets for (Mirrorless Camera Market) due to the nature of industrial automation in the region, high consumer spending compared to other regions, and the growth of various industries, mainly AI, along with constant technological advancements. The GDP of the USA is one of the largest in the world, and it is home to various industries such as Pharmaceuticals, Aerospace, and Technology. The average consumer spending in the region was $72K in 2023, and this is set to increase over the forecast period. Industries are focused on industrial automation and increasing efficiency in the region. This will be facilitated by the growth in IoT and AI across the board. Due to tensions in geopolitics, much manufacturing is set to shift towards the USA and Mexico, away from China. This shift will include industries such as semiconductors and automotive.
Europe
The European market, particularly Western Europe, is another prime market for (Mirrorless Camera Market) due to the strong economic conditions in the region, bolstered by robust systems that support sustained growth. This includes research and development of new technologies, constant innovation, and developments across various industries that promote regional growth. Investments are being made to develop and improve existing infrastructure, enabling various industries to thrive. In Western Europe, the margins for (Mirrorless Camera Market) are higher than in other parts of the world due to regional supply and demand dynamics. Average consumer spending in the region was lower than in the USA in 2023, but it is expected to increase over the forecast period.
Eastern Europe is anticipated to experience a higher growth rate compared to Western Europe, as significant shifts in manufacturing and development are taking place in countries like Poland and Hungary. However, the Russia-Ukraine war is currently disrupting growth in this region, with the lack of an immediate resolution negatively impacting growth and creating instability in neighboring areas. Despite these challenges, technological hubs are emerging in Eastern Europe, driven by lower labor costs and a strong supply of technological capabilities compared to Western Europe.
There is a significant boom in manufacturing within Europe, especially in the semiconductor industry, which is expected to influence other industries. Major improvements in the development of sectors such as renewable energy, industrial automation, automotive manufacturing, battery manufacturing and recycling, and AI are poised to promote the growth of (Mirrorless Camera Market) in the region.
Asia
Asia will continue to be the global manufacturing hub for (Mirrorless Camera Market) over the forecast period with China dominating the manufacturing. However, there will be a shift in manufacturing towards other Asian countries such as India and Vietnam. The technological developments will come from China, Japan, South Korea, and India for the region. There is a trend to improve the efficiency as well as the quality of goods and services to keep up with the standards that are present internationally as well as win the fight in terms of pricing in this region. The demand in this region will also be driven by infrastructural developments that will take place over the forecast period to improve the output for various industries in different countries.
There will be higher growth in the Middle East as investments fall into place to improve their standing in various industries away from petroleum. Plans such as Saudi Arabia Vision 2030, Qatar Vision 2030, and Abu Dhabi 2030 will cause developments across multiple industries in the region. There is a focus on improving the manufacturing sector as well as the knowledge-based services to cater to the needs of the region and the rest of the world. Due to the shifting nature of fossil fuels, the region will be ready with multiple other revenue sources by the time comes, though fossil fuels are not going away any time soon.
Africa
Africa is expected to see the largest growth in (Mirrorless Camera Market) over the forecast period, as the region prepares to advance across multiple fronts. This growth aligns with the surge of investments targeting key sectors such as agriculture, mining, financial services, manufacturing, logistics, automotive, and healthcare. These investments are poised to stimulate overall regional growth, creating ripple effects across other industries as consumer spending increases, access to products improves, and product offerings expand. This development is supported by both established companies and startups in the region, with assistance from various charitable organizations. Additionally, the presence of a young workforce will address various existing regional challenges. There has been an improvement in political stability, which has attracted and will continue to attract more foreign investments. Initiatives like the African Continental Free Trade Area (AfCFTA) are set to facilitate the easier movement of goods and services within the region, further enhancing the economic landscape.
RoW
Latin America and the Oceania region will showcase growth over the forecast period in (Mirrorless Camera Market). In Latin America, the focus in the forecast period will be to improve their manufacturing capabilities which is supported by foreign investments in the region. This will be across industries mainly automotive and medical devices. There will also be an increase in mining activities over the forecast period in this region. The area is ripe for industrial automation to enable improvements in manufacturing across different industries and efficiency improvements. This will lead to growth of other industries in the region.
Mirrorless camera shipments fared better, but still saw drops in both volume and value. About 25.9% decrease in volume (2.93M units shipped) and 12.5% decrease in value (¥247B / $2.36B in revenue).
It’s worth noting this is the first year, that mirrorless camera shipments have been higher than DSLR camera shipments, a concrete sign that mirrorless has overtaken DSLR cameras as the more popular choice.
Mirrorless cameras have the advantage of usually being lighter, more compact, faster and better for video. Camera manufacturers are taking notice that the lenses available for Mirrorless is lesser and the accessories offered too are fewer compared to a DSLR.
Mirrorless cameras have come a long way. The new breed of mirrorless cameras is compact yet powerful. The Fujifilm X-T200 is one of the new-age mirrorless camera aimed at vloggers and those switching from a standard DSLR.
Olympus had a big hand in kicking off the compact-but-capable mirrorless camera movement it co-created the Micro Four Thirds format with Panasonic, launching Olympus OM-D E-M10 shrinking the size and price of premium cameras.
Sony released E mount cameras (A6000, A6300, A6500) and (Alpha7, Alpha7R) in 2013 and 2014. The A7s are the most advanced and expensive mirrorless cameras, Sony has ever produced. They may look similar to the company’s line of NEX cameras (DSLR), but the A7s have one significant difference a much larger image sensor.
Bigger sensors simply produce better pictures, and the full-frame sensor in the A7s is one of the biggest one can get in a consumer-level camera. Eventually, New products like Fujifilm X-T1, Nikon V3, Panasonic GH4 had made their way into the market.
Beginner level camera price started from $499 to $1200 and Professional Level cameras were above $2000
Initially, mirrorless cameras were available only with MFT sensors, given their compact size. MFT sensors are smaller than full-frame sensors. However, full-frame sensors are more efficient than MFT sensors under low light conditions. Hence, the preference for full-frame sensors over MFT sensors is high among photographers for indoor shooting.
Moreover, recent innovations have enabled manufacturers to deliver mirrorless cameras with full-frame sensors. For instance, in September 2018, Panasonic announced its plans to launch the Lumix S, its first-ever full-frame mirrorless camera.
Factors such as the product expansion of major brands and the growing online retail sales will have a significant impact on the growth of the mirrorless camera market value during the forecast period
Vlogs and content creation are upcoming methods to provide entertainment as well as insights into various fields. Exchange of Pictures through Social Media Platforms such as Facebook, Instagram, WhatsApp, and Twitter with Mirrorless Camera Equipped Smartphones
Due to increased content on video platforms, the algorithm sorts them in terms of quality thereby gear upgrades when possible will help vloggers release higher quality videos thereby gathering more viewers
Mirrorless cameras are considered by many to be the perfect travel camera as they offer great image quality and functionality, but are lighter and more portable than DSLR cameras. Professional vloggers will shift to this to capture quality images and videos. Compactness of mirrorless is an added leverage it has over DLSR
Mirrorless cameras are seeing rising demand from the vloggers as the quality of photos obtained is high, and due to the competition for viewership, the vloggers will look to put out the premium quality of footage available
Vlogging is also a major growth driver for rise in demand of mirrorless cameras worldwide. T0 know more about vlogging camera market, read our report.
The launch of the FUJIFILM X-S20 mirrorless digital camera (X-S20) was announced by FUJIFILM North America Corporation. The FUJIFILM X-S20 has a lightweight, small form factor similar to that of its predecessor, the X-S10.
It also adds additional capabilities like AI-based subject-detection autofocus (AF), the ability to record 6.2K/30P video, and the ability to stream 4K/60P video natively through USB-C.
The X-S20 is undoubtedly a dream camera for everyone who wants to advance the quality of their images and movies, but especially for those who are chronicling their lives, exploring the globe, or live-streaming their experiences.
It supports a variety of picture creation styles, from informal self-portraits to comprehensive photography and videography, while also providing superior image quality and improved portability.
We are certain that X-S20 will be warmly appreciated by people pushing long-form content to platforms like Twitch because more content producers are resorting to digital cameras than ever before. This is especially true given that there are no fees to access the functionality.
The back-illuminated 26.1MP “X-TransTM CMOS 4” sensor and the fast image processing engine “X-Processor 5” are features of the X-S20, which enables it to capture high-quality photographs while using less power than the X-S10 model did.
With the use of deep learning and artificial intelligence (AI), the X-S20 has subject-detection AF. In this instance, artificial intelligence (AI) is utilised to recognise drones, insects, autos, motorbikes, bicycles, and various animals and birds. Even in AF-C mode, steady focusing is made possible by the upgraded AF prediction algorithm.
With the new AUTO Subject Detection function, the AUTO mode, which automatically chooses the best settings for scenes, is enhanced so that the creator may effortlessly take high-quality stills and movies by automatically recognising and tracking a subject while keeping it in focus.
There are 19 different film simulation modes available on the X-S20, one of which is called “Nostalgic Neg,” which has a high saturation and soft tone. To create a photographic film appearance and feel, users can apply Film Simulation presets to a variety of subject matters and settings.
With a body weight of under 1.08 lbs.1 (491g), the X-S20 maintains the small and lightweight design of the X-S Series while incorporating the big grip that has become synonymous with the line.
Compared to the previous X-S10 model, the number of frames in Economy Mode has increased by more than twice as many thanks to the introduction of the high-capacity battery, the NP-W235.
With the help of the X-S20’s five-axis IBIS mechanism, which gives up to 7.0-stops2, it is simple to produce still photos or moving pictures while using a handheld camera, even at night or in dimly lit environments.
The X-S20 can stream 4K/60P video at 60 frames per second over USB-C and can record 6.2K/30P 4:2:2 10-bit video internally. It also offers a wide range of video features.
F-Log2 is a feature of the X-S20 that allows for the recording of video in a dynamic range that is enlarged to 13+ stops for richer tonality and more versatility in post-production.
As soon as the cameras in smartphones got better with good image quality, users preferred a phone over a traditional camera to click photos. In fact, smartphones’ cameras gave birth to professional mobile photographers.
Roughly, the past 11 years have been rough for camera manufacturers. They are trying their best to sustain the camera market.
Manufacturers adopted new designing plans to rearrange elements in the camera bodies to make them compact and lightweight, without compromising with the image/ video quality.
The move resulted in the popularity of mirrorless cameras. Last year, the category of mirrorless cameras boosted in comparison to DSLRs and cameras with fixed lenses.
The sales numbers across the board were low in 2020, but yes, mirrorless cameras stuck to its position. However, there was a 25.9 percent decrease in volume and a 12.5 per cent decrease in value.
Canon introduced a high-end mirrorless camera the EOS M in March. The entry-level mirrorless camera became the best-selling model in the first half in 2018.
Nikon launched the Z7 and Z6, which are the company’s debut attempts at full-frame mirrorless camera. The Z series is modelled after Nikon’s flagship D850 camera, these new models have a rugged quality, compared to the slightly more elegant design of Canon EOS M or even Sony’s A7 series.
Canon’s EOS R and EOS RP, and Nikon’s Z 6 and Z 7 had a fallback Globally. The Global and home market of all these companies (Japan), Sony – the maker of the world’s first full-frame mirrorless camera rolled out in 2013, has seen strong sales of the a7 III mirrorless camera since its release in March. Sony is clear leader in sales while Canon and Nikon have dropped.
Unit shipments of mirrorless cameras were up nearly 29% in 2017 from 2016. The rising demand for mirrorless cameras globally has led to the launch of the A9, A7 R3, and A7 mirrorless cameras by Sony.
Despite the new models from Canon and Nikon over the last few months, Sony’s release of the A7C, A7S III and now the A1 have seen Sony take a massive lead in market share amongst full-frame mirrorless cameras in Japan. In stark contrast to the mere 25% share they held in April 2020, below both Nikon and Canon, Sony now holds 42.6%.
Development, such as this, has encouraged the likes of Canon and Nikon to venture into the mirrorless camera segment.
As of now, Canon and Nikon have failed to surpass Sony with their latest models, and risk falling further behind the next generation of A7 cameras.
Sony’s autofocus system is miles ahead of both Nikon and Canon. Sony has a very powerful advantage because it builds its own sensors and electronics, and has more expertise in designing autofocus software, too.
It’s clear just how far behind Canon’s sensors and processors are, judging by the lack of full-frame 4K, awful rolling shutter and slowest autofocus speeds.
