China's camera exports have shown a continuous decline from 2013, where exports stood at 6.84 ten million units, to 2023, where the volume dropped to 1.85 ten million units. This represents an overall downward trend, with notable declines each year. The year-on-year decrease for both 2022 and 2023 was around 14.7%. The average yearly decline (CAGR) over the last five years leading up to 2023 is approximately -11.63%.
Looking ahead, forecast data indicates a further decline in camera exports, with volumes expected to reach as low as 0.18275 ten million units by 2028. The projected compound annual growth rate (CAGR) for the next five years is -34.35%, amounting to an overall decrease of 87.81% from 2023 levels.
Future trends to watch for:
- Increased competition from smartphones with advanced camera features.
- Technological shifts towards AI-integrated photography and video capabilities.
- Possible market stabilization or growth in niche areas like professional and action cameras.