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 55% of Canon’s revenue
- Imaging businesses that represent 19% of Canon’s revenue
- Medical businesses that represent 14% of Canon’s revenue
- Industrial & Others businesses that represent 16% of Canon’s revenue
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 66% of the revenue in that segment
- Network Cameras & Others – which represent the other 34% of the revenue in that segment
Canon does not report on sales of lenses (like Nikon does). The company report how many units sold for DILC (Interchangeable-Lens Digital Cameras) and DCC (Digital Compact Camera).
The company possesses 51% of the DILC market share, and that makes Canon the biggest camera brand.
According to Canon’s financial reports released Oct 26, 2022, the company expects that the market demand for cameras will remain solid, even in an economic slowdown, because of the launch of new mirrorless models and interchangeable lenses by each company.
Therefore, Canon estimates the market size to be 5.45 million units (very similar to Nikon which expects 5.4 million units), which is a slight increase from last year, and Canon is expected to sell about 2.8 million units, which is around 51% of the market share.
Canon maintained its unit sales projection for 2022 at 2.8 million units because it will not be able to supply enough products to meet the market demand. And the company will continue to strengthen the EOS E series mirrorless cameras. The full-frame mirrorless cameras like the EOS R5 and R6 continue to enjoy strong support from professional photographers and advanced amateurs.
Additionally, users who want to switch from SLR cameras to enjoy more serious and advanced photography, or to step up from entry-level models have 2 new small and light-weight APS-C size sensor models.
Canon also expanded their range of RF lenses to 32 models, to provide more variety of options, and prepare to continue to build a more robust EOS R system lineup, and in that way to expand even more their 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 2022 compared to 2021.
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
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