Sony overtakes Canon in top 16 photographic companies in the world

largest photography companies
(Image credit: Future)

The 16 largest photography companies in the world have just been revealed and some of the top contenders come as a complete surprise. From Shutterstock to Sony and Leica to Lifetouch (don’t worry we hadn’t heard of it either), the list covers everything from the manufacturers of some of the best professional cameras to some of the best stock photo sites.

According to Zion Market Research via Yahoo, the value of the photography market is expected to rise to $149.4 billion by the end of 2028 reflecting a growth of 4.4% from 2021. Sitting at the very top of the list are the usual suspects… Sony takes the top spot with a whopping revenue of $8.44 billion in 2021, Canon comes in second place with a revenue of $5.11 billion and Fujifilm, who monopolizes the digital medium format camera market, came third with $1.71 billion (a pretty huge difference between the three top spots).

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Nestled in fourth place is a company I’d never even heard of before today called Lifetouch. The Minnesota-based company provides professional photography services to schools and families (basically the equivalent of H. Tempest if you live in the UK) only it raked in an impressive $1.5 billion in 2021 - not bad for a company that sells a service!

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16 Largest Photography Companies in the World
RankCamera Company2021 Revenue
1.Sony Group Corporation$8.44 billion
2.Canon Inc$5.11 billion
3.Fujifilm$1.71 billion
4.Lifetouch$1.5 billion
5.Nikon$1.16 billion
6.Eastman Kodak Co$1.15 billion
7.Panasonic$1 billion
8.Getty Images $0.91 billion
9.Shutterstock Inc$0.77 billion
10.B&H Photo $460 million
11.Leica Camera$432.4 million
12.Polaroid$300 million
13.Ricoh Co Ltd$116.9 million
14.Adorama Camera, Inc.$100 million
15.OM Digital Solutions$43.7 million
16. Hasselblad$38.6 Million

In fifth place is Nikon who came in just behind Lifetouch with total revenue of $1.16 billion and is best known for its impressive line of DSLRs and F-mount lenses and more recently its mirrorless cameras such as the flagship Nikon Z9 and best Nikon Z lenses

Despite a difficult few years, both Eastman Kodak Co and Panasonic Holding Corp made it into the top 16 with revenues of $1.16 and $1 billion respectively while Getty Images slipped into 8th place with a revenue of $0.91 billion showing an increase of 12.67% on 2020s earnings. 

Not quite making it past the billion mark but still securing its place in the top 16 photography companies is New-York based image library Shutterstock with a revenue of $0.77 billion. New York retailer B&H Photo recorded a revenue of $460 million, while Leica just missed out on a place in the top 10 with $432.4 million in revenue. 

Finally, in the bottom five places (although that by no means makes them poor performers, hundreds didn’t place at all) are Polaroid, makers of some of the best instant cameras, Ricoh who manufacture everything from compact cameras to binoculars and 360° cameras, popular US camera retailer Adorama, OM Digital Solutions (previously Olympus) sits at no. 15, while high-end Swedish medium format camera manufacturer Hasselblad made it onto the list with a revenue of $38.6 million.

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Hannah Rooke
Staff Writer

Having studied Journalism and Public Relations at the University of the West of England Hannah developed a love for photography through a module on photojournalism. She specializes in Portrait, Fashion and lifestyle photography but has more recently branched out in the world of stylized product photography. For the last 3 years Hannah has worked at Wex Photo Video as a Senior Sales Assistant using her experience and knowledge of cameras to help people buy the equipment that is right for them. With 5 years experience working with studio lighting, Hannah has run many successful workshops teaching people how to use different lighting setups.