Market data coming in from Japan for 2023 gives us reason to be optimistic about the future of mirrorless cameras. Data released by CIPA, Japan indicate that the camera market, excluding smartphones expanded by 5.37 % in value over 2022. The total retail value of cameras hit 16 billion dollars. Mirrorless cameras now account for more than 81% of the market up from 69% in 2022. DSLRs are fast dying out. Companies like Nikon have seen the writing on the wall and have already discontinued several of their DSLR models and lenses. Canon, Sigma and Tamron are following suit. Compact cameras are rapidly becoming a niche market. Wisely, companies like Leica, Hasselblad and Zeiss have started working with smartphone companies like Xiaomi, Oppo and One Plus and Vivo respectively.
