Sony and Samsung are fortifying a two-superpower structure in the digital camera market in Korea. Traditional market leaders such as Canon, Nikon, and Olympus are losing ground.
Sony continues to be the market's number one for four consecutive years since 2010 by occupying more than 50 percent of market share in the sector of mirrorless cameras, which are currently leading the market. Sony won back first place in the compact camera market as well in March, for the first time in nine years, and has been maintaining the top position until June, the most recent record. Samsung is also expanding its influence in the market, constantly occupying more than 30 percent of market share.
According to GFK, a market research organization, on Sept. 1, the market share of Sony in the mirrorless camera market was top at 37 percent in 2012, 53 percent in 2013, and 51 percent during the first half of this year. Samsung, the market number two with over 23 percent market share, is chasing Sony very fast by widening the gap, with followers right behind.
As mirrorless cameras have been overtaking DSLR in the interchangeable lens camera segment since last year, the portion of mirrorless cameras keeps increasing. Accordingly, industry analysts project that the two-strong market structure will become even stronger.
In the compact camera sector as well, Sony stayed on top by occupying more than 30 percent of market share with its high-end product series. Sony turned its direction to high-end cameras from the compact camera market of which growth has stagnated due to the popularization of smartphones. After all, Sony scored 40 percent of market share in June, and reclaimed its top position for the first time in nine years since the company entered the compact camera market in Korea.
The foundation of this sturdy growth in Sony cameras is its advanced imaging technology. Sony, the world’s number one digital image sensor company, has changed the paradigm of the camera market by integrating miniaturizing and lightening technologies.
Canon, Nikon and Olympus cannot regain their lost glory. DSLRs of Canon and Nikon are occupying less than 30 percent market share in the entire market of interchangeable-lens cameras, left behind by mirroless cameras. The market share of Olympus also shrank to 10 percent, as the company failed to introduce new products.