Want to know what happened to the photography market in 2014? It’s not good news…

How low can you go?

Following CIPA’s (the Camera & Imaging Products Association) publication of the official 2014 numbers for the photography industry, LensVid has updated its remarkably useful infographic and accompanying video charting what can only really be descibed as the industry's decline. It’s sobering reading.

2013 was, of course, the worst year for the photography industry in a long time. However, 2014 was even worse as, driven by the twin engines of ever-more capable smartphones and a general lack of economic growth, the industry slumped to some impressive new lows.

How low? Here are some key points:

• Camera manufacturing/sales (all types) went down in 2014 by 31%
• Lenses manufacturing/sales (for DSLR/mirrorless cameras) went down by 12%
• Mirrorless cameras have failed tho gain much traction and are still just 7% of the entire camera market
• Sales of compact cameras are down 372% since 2010

Have a look at all the data here What Happened to the Photography Industry in 2014?

There is some cause for optimism - Japan remains enthusiastic about cameras and camera products, and Asia as a whole is a gently epxanding market - but the overall picture is one of gloom. The video below delves into the numbers a bit more …