While camera technology is continuing to evolve at breakneck speeds, that doesn't necessarily mean the demand for them is keeping pace. Canon's president seems to think that the future is quite bleak.
Canon President Fujio Mitarai mentioned this in an interview with Nikkei, in which he noted that the company's camera sales volumes have steadily decreased the last few years and that mirrorless units are taking the place of DSLRs, not augmenting their numbers. He predicted that the market will continue to decrease from its current level of about 10 million annual units to a baseline of 5 to 6 million in the next two years (representing advanced amateurs and professionals for whom smartphones have not taken over primary roles). As such, the company will refocus a lot of its efforts toward its corporate customers and industrial areas.
It's not particularly surprising news given how far smartphones have advanced and how they've taken over primary shooting duties for a large portion of consumers. Nonetheless, once the market reaches bottom, it'll be interesting to see who is left and how companies approach the smaller available sales volumes. Thankfully for photographers, despite the shrinking market, companies are still pushing ahead with technological development.