The bottom fell right out from beneath the digital camera market with smart phones destroying the bread and butter small family type point and shoot cameras. Nikon and Canon and the boys made most of their profit off these point and shoots and that is all but gone for them now.
That and people are pretty damn satisfied with the cameras they now own. Back when the digital market was in full bloom with new cameras and higher MP counts going up almost weekly. There was a real driving force for people to buy new cameras and often. That is gone in part because 24mp and above make fantastic prints and most images get shared online now never seeing a print made. Don't need much camera to do that.
^^^
three basic statement about what happened to the camera I had concluded as well.
The CIPA graph shows that All Analog camera production peaked around 1997-99. Digital camera levels in 2015 are at about the same levels as All Analog of about 1989, right about when AF SLR sales (which were replacing manual focus SLRs) swelled. The conversion from analog P&S to digital P&S helped to swell camera sales, but the smartphone -- the multifunction device that replaced dedicated MP3 players and PDAs and calculators and GPS unit in pockets and pursues -- did the most harm to 'casual camera carrying' of dedicated cameras. dLSRs and mirrorless digital cameras peaked at about 20,000,000 units, and the 1999 peak of 38 Million total analog was (guessing here, as no detail available) over half comprised of P&S cameras. So with about 75% of 7.5 Billion world population (2013 figures) behind over age 15, that is 5.32 Billion old enough to use/own cameras. Let's call that 2.3 Billion households eligible to own one or more cameras, and 38,000,000 are buying dSLR or mirrorless each year or about 2% of households annually buy cameras (not counting smartphones).
