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Mass market camera production has taken a major hit and the increasing popularity of smartphones with their built-in digital cameras could be to blame. That's what the above chart based on CIPA (Camera & Imaging Products Association) statistics seems to show, with a steep decline in camera production in recent years, particularly compact cameras, which have started to disappear as smartphones take over.

"Even if manufacturers launch success stories over and over again (e.g. light field cameras or action cameras) – such relatively small segments do not change the overall negative picture," writes camera analyst and Mayflower Concepts CEO Heino Hilbig, who created the chart and is sharing it with the media. "Simply the dominance of smart phones is far too big."

There are, however, a few bright spots with the production of digital SLRs holding (somewhat) steady and mirrorless compact system cameras starting to grab a foothold in the market. Still though, it's hard not to be phased by overall camera production shrinking at a rate of 40% annually.

If you want to learn more about this chart and these ominous camera trends, you should check out Hilbig's seminar at CES in Las Vegas on January 6, 2015, titled "How to Tackle the Collapsing Camera Market."

(Via Mirrorless Rumors)