The Camera and Imaging Product Association (CIPA) recently published its total production and shipment data for January. The latest data shows that demand for compact cameras remains strong. Shipments of interchangeable lens systems also increased year over year, while those of SLR systems slowed.

CIPA breaks down its data into camera types, with dedicated sections for cameras with built-in lenses and interchangeable lens systems. It also differentiates between SLRs and mirrorless cameras and provides specific data regarding various regions. All digital still cameras saw a 6% increase in shipment compared to January 2024 data, while interchangeable lens cameras were up 5% year-over-year.

A graph showing the total number of shipments of digital still cameras. Graph: CIPA

Built-in lens systems, though, saw the biggest increase of all categories. With 124,085 units shipped in January, cameras with integrated lenses saw an increase in shipments of 11% compared to January last year. Also notable was the 50% increase in the value of shipped compact cameras compared to January last year. The fact that the value is increasing faster than the number of units shipped indicates prices are higher for those cameras.

The growth in value isn’t entirely surprising, given that demand for compacts is high right now. Cameras like the Fujifilm X100VI have been extremely popular. According to Map Camera, one of the largest photography retailers in Japan, the Fujifilm X100VI was its best-selling camera in February 2025. The buzz surrounding the Canon Powershot V1, which was only recently announced at CP+, is also significant. The Powershot V1 is only available in Asia and wasn’t scheduled to start shipping until April. Despite all that, DCWatch reported that Canon has already announced it is experiencing supply shortage issues and that delivery times may be longer than usual as a result.

While that growth in compact camera shipments is interesting, it seems to be largely the result of two regions. China saw the greatest increase; shipments of compact cameras grew substantially year-over-year, with just 6,055 units shipped in January 2024 versus 18,955 units shipped in January 2025, a 213% increase. Asia (excluding China and Japan) also saw an increase, though at a more modest 22%. Europe and the Americas, however, actually saw a few thousand fewer shipments of compact cameras year-over-year (around a 6% fall).

While compacts saw an increase in shipments, SLRs saw a decline in January 2025 compared to January 2024. Shipments of SLRs were down 16% year-over-year. This isn’t much of a surprise, given that the last DLSR that was released was the Pentax K-3 Mark III in March 2021, and Canon and Nikon last released DSLRs in 2018 and 2020, respectively. Sigma is also no longer developing new DSLR lenses. Needless to say, it seems the sun is setting on DSLRs, so it makes sense that shipments would be slowing.

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Insta360 and Leica Camera AG first teamed up in January 2020 with the Insta360 One R action camera. More recently, they collaborated on the Insta360 Ace Pro 2. That cooperation isn’t over, as the two companies have announced an extension of their partnership, bringing continued collaboration to Insta360’s action cameras.

The Ace Pro 2 featured a Leica Summarit lens and Leica color profiles, so it seems likely that we will see more Leica optics and colors in future Insta360 products. The announcement reveals that “exciting developments are already on the horizon,” suggesting that a new product is already in the works. It goes on to say that there will be “more cutting-edge imaging solutions across new product lines in the near future.”

“Insta360 and Leica share a vision of creating the most advanced imaging tools possible,” said Max Richter, Vice President of Marketing at Insta360. “With this renewed partnership, we are excited to continue our journey together, empowering creators to capture like nothing else out there.”

The Insta360 Ace 2 Pro has been very well regarded with impressive quality, so if that’s a sign of what this partnership can yield, then exciting things could indeed be on the way. The two companies didn’t provide any additional details about what product lines may involve Leica’s input, so for now, we will have to wait.

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A couple of weeks ago, DPReview attended the 2025 CP+ Expo in Yokohama, Japan, the annual camera industry trade show sponsored by the Camera & Imaging Products Association (CIPA). CP+ is an opportunity for us to meet with senior executives from across the camera industry, but it’s also a chance to gauge the market’s health more indirectly.

After going through years of contraction, the past few years have generally been a period of stabilization for the camera industry. We’re not returning to the heady days of DSLRs and compact models flying off the shelves in the tens of millions, but industry executives have consistently told us that the market has reached a point of equilibrium and is even growing a bit.

However, despite the positive outlook from industry leaders, it’s hard to ignore that, for the past couple of years, the CP+ Expo lacked a certain energy that we used to see at camera trade shows. In 2025, however, we saw several signs that CP+, and possibly the industry, are regaining some of that past mojo.

The crowds were bigger

It’s no secret that camera trade shows have been hit hard over the past few years, with stalwarts like Photokina and PMA falling by the wayside and becoming historical footnotes. Trade shows, in general, have been flagging as companies discover new ways of connecting with customers, and the camera industry is not immune to that.

“We saw several signs that CP+, and possibly the industry, are regaining some of that past mojo.”

CP+ was hit particularly hard by the global pandemic in 2020, which resulted in a three-year hiatus before an in-person expo returned in 2023. And, while there was clearly excitement among attendees and manufacturers to be back in action, one couldn’t help but notice that the crowds felt smaller and the energy levels lower. It didn’t portend an exciting future.

What a difference a year makes: in 2025, CP+ felt busy and vibrant again. There were lines outside the expo hall snaking back and forth well before the doors opened, packed with consumers eager to see the latest gear. The expo hall was crowded, the booths were busy, and even the aisles were filled with excitement and energy that have been largely absent since the pandemic.

The attendees are changing

CP+ attendees listen to a speaker in the Sigma booth. It seemed like there were more women at CP+ than in the past. Frame from video: Dale Baskin

Yes, the crowds are getting bigger again. But what may be even more important is who we saw in attendance.

Typically, we would expect to see traditional camera enthusiasts at CP+, the type of person who has a collection of cameras and lenses at home, and we saw plenty of attendees with current models slung around their necks. To be sure, there were plenty of these people at the expo, and that’s a good thing for the industry.

What jumped out, however, was the number of young people we saw in attendance, and it was common to see them in sections of booths specifically targeting ‘creators.’ You found them in other places, too; at least anecdotally, the industry’s efforts to connect with this up-and-coming customer base may be paying dividends.

Additionally, it seemed like there were more women in attendance this year. I don’t have any hard data to back this up, so you’ll have to trust my observations, but it’s certainly a good sign if the industry is more effectively connecting with women photographers.

Companies are timing product launches around CP+

DPReview was the first publication to get our hands on the new Canon V1, a compact camera announced to coincide with CP+ 2025. Photo: Dale Baskin

The CP+ Expo hasn’t historically been an anchor event camera companies use to announce new products. It wasn’t uncommon for a few products to be announced in the weeks leading up to the event, and companies occasionally used CP+ for big announcements, but it was the exception rather than the rule.

Suddenly, CP+ is a hot place for announcements.

Panasonic announced its new Lumix S1RII high-resolution flagship camera, Canon had its just-announced Powershot V1 compact model on display, and Sony revealed its new 16mm F1.8 G and 400-800mm F6.3-8 G lenses. Even Zeiss got in on the action, announcing new Otus 50mm F1.4 ML and 85mm F1.4 ML lenses.

On top of that, Sigma announced its new BF camera, along with new 16-300mm F3.5-6.7 DC OS and 300-600mm F4 DG OS lenses, at its own event in Tokyo earlier in the week, clearly designed to coincide with CP+, and the expo was the first opportunity for customers to get their hands on the products.

And this doesn’t even include all the new lenses revealed by the up-and-coming Chinese lens manufacturers. Speaking of which…

Chinese lens companies have arrived in force

Chinese lens companies unveiled numerous new lenses at CP+ 2025, some designed to go head-to-head with the camera manufacturers’ own lens options. Photos: Richard Butler

Over the past few years, Chinese lens companies have transformed the camera market, becoming competitive manufacturers capable of producing sophisticated autofocus lenses with impressive optics.

This isn’t the first year these companies have been at CP+. However, in 2025, they collectively made their presence felt like never before, unveiling no less than ten lenses between them, including several that ought to get the attention of first-party manufacturers.

Viltrox jumped in with its AF 35mm F1.2 LAB FE and AF 85mm F1.4 PRO FE lenses for Sony E-mount, along with a full-frame compatible AF 50mm F2.0 Air and APS-C AF 25mm F1.7 Air, both available for multiple mounts. Laowa joined the party with full-frame 8-15mm F2.8 Fisheye and 15mm F4.5 0.5x wide-angle macro lenses, and even a 35mm F2.8 Tilt Shift lens for Fujifilm GFX.

“Chinese lens companies unveiled numerous new lenses at CP+ 2025, some designed to go head-to-head with the camera manufacturers’ own lens options.”

Not to be left out, 7Artisans showed off full frame 24mm F1.8 and 35mm F2.8 lenses in multiple mounts and APS-C 25mm F1.8, 35mm F1.8 and 50mm F1.8 primes, also available in multiple mounts. Even Samyang got in on the fun, unveiling its AF 14-24mm F2.8 zoom for E-mount, co-branded with Schneider Kreuznach.

If this trend continues, CP+ could become a very exciting venue for new lenses.

What does it mean?

It’s one thing for camera industry executives to tell us the industry is headed in a positive direction. It’s another to walk the aisles of an expo hall teeming with excited consumers who telegraph that message in the real world. Seeing younger generations out in force and excited about using cameras is particularly exciting.

It’s also been a long time since we’ve seen this many big industry announcements centered on a single event. However, if the industry can coalesce around CP+, it presents an opportunity for manufacturers to generate industry-wide excitement about new products at a level we haven’t seen since the days of Photokina, and that would undoubtedly be a positive thing for the industry as a whole.

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