Canon INC. was established in 1933 as Precision Optical Instruments Laboratory, and the logo of the manufactured cameras was the Buddhist Goddess of Mercy with the 1,000 arms “Kwanon”.
In 1935, when the company wanted to broaden, it needed a brand name that would catch worldwide. So, the company registered the name Canon.
Canon meanings including scriptures, criterion and standard, which fit with the company spirit that aims to set “a global standard for advanced technologies and service while becoming a criterion in the industry to which others will aspire”.
Nikon has 4 main businesses (Segments):
- Printing businesses that represent 56% of Canon’s revenue
- Imaging businesses that represent 20% of Canon’s revenue
- Medical businesses that represent 13% of Canon’s revenue
- Industrial & Others businesses that represent 14% of Canon’s revenue
(NOTE – for the sharp-eyed – there is the Elimination part that balances the percentage to 100%.)
Here we’ll focus on the Imaging Products Business which includes: Digital cameras, Film cameras, Interchangeable lenses, and network cameras.
Canon INC’s main product categories in the Imaging Products Business are:
- Interchangeable-Lens Digital Cameras – which represent 63% of the revenue in that segment
- Network Cameras & Others – which represent the other 37% of the revenue in that segment
Canon does not report on sales of lenses (like Nikon does). The company reports how many units are sold for DILC (Interchangeable-Lens Digital Cameras) and they used to report the DCC (Digital Compact Camera) until the end of 2022.
The company possesses around 50% of the DILC market share (which remains the same as reported in the last quarter), and that makes Canon the biggest camera brand.
According to Canon’s financial reports released Oct 26, 2023, The interchangeable lens camera market is showing strong performance, thanks to continual product releases from various companies. Market size for this year is projected to reach 5.85 million units, a slight increase compared to last year. And very similar to Nikon’s projections which expect 5.8 million units.
In Q3, sales of new camera models like the EOS R6 Mark II and the entry-level EOS R50 and R100 have been steadily increasing. Overall unit sales for the quarter are nearly on par with the same period last year.
To cater to a wide range of camera users and attract newcomers, the mirrorless camera lineup has been expanded to include both full-frame and entry-level models. This year, five new interchangeable lenses were added, bringing the total lens count to 38. These efforts are successfully boosting Canon’s share in the mirrorless market, thanks to the synergy between camera bodies and lenses.
With the market stabilizing to meet supply and demand, competitors are ramping up their sales efforts. Accordingly, plans are in place to boost sales volume through targeted promotions in Q4, the peak selling season. Canon’s goal is to achieve 2.9 million units sold by the end of the year, which is around 50% of the market share.
You can see that the overall trend is down until Q2-2020 (around August 2020). Since late 2020, you can see how the DILC (Interchangeable-Lens Digital Cameras) are stabilizing, and as the company reports, it expects the market to slightly increase in 2023 compared to 2022.
Mainly because of the new mirrorless camera models that will be released to the market by all the companies.
Let’s find out what is the BEST Canon product for You.
Our team of photographers here at Photographer Touch has been conducting extensive research to bring you a selection of the best Canon products available on the market. We have carefully evaluated various products based on their features, quality, and overall performance.
Our goal is to provide you with the most reliable and innovative options to meet your needs and exceed your expectations. From digital cameras to lenses and accessories, we have thoroughly analyzed the market to present you with a range of options that will help you take your photography to the next level.
Whether you are a professional photographer seeking top-grade equipment or an amateur looking to enhance your skills, our guide offers a variety of options for you to choose from. Simply select your preferred categories to access our recommendations and find the ideal Canon products for you.
Canon DSLR and Mirrorless Cameras (DCIL – Digital Camera Interchangeable Lens)
Canon Mirrorless Camera Reviews
Canon Digital Compact Cameras (DCC)
Canon Digital Compact Camera Reviews
Best Canon Lenses:
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Best Canon Lenses By Camera:
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