Structural market collapse from smartphone displacement
#1Global interchangeable-lens camera shipments peaked at approximately 11.4 million units in 2012 and fell to under 700,000 units by 2023 per CIPA data — a 94% volume collapse in eleven years. Compact camera shipments, once the primary source of repair volume, collapsed from 120 million units in 2008 to under 6 million in 2023. The used film camera market provides a partial offset — Lomography and renewed interest in analog photography briefly spiked demand 2018-2022 — but this segment is price-capped and demographically narrow.