It is no surprise that Canon's market share has been declining at a steady rate as companies like Sony and Panasonic release attractive mirrorless alternatives that are cheaper, smaller and more powerful than the standard DSLR.

You'd think Canon would be quick to adapt, but it appears the imaging giant isn't entirely sure how to remain relevant in the quick-changing photo/video market of today. Last year, we saw the release of their M3 mirrorless body that hasn't been a big hit with consumers.

Earlier today, Canon debuted a higher-end M5 mirrorless body which is said to offer the benefits of mirrorless technology while maintaining a DSLR-like experience. The M5 starts at a body only price of $980 with an optional $120 add-on for a 15-45mm f/3.5-6.3 IS STM kit lens or an extra $500 for a bundled 18-150mm f/3.5-6.3 IS STM lens.

Canon M5 Technical Specifications

  • 24.2MP APS-C CMOS Sensor
  • DIGIC 7 Image Processor
  • 2.36m-Dot EVF, Touch and Drag AF Control
  • 3.2″ 1.62m-Dot Tilting Touchscreen LCD
  • Full HD 1080p Video Recording at 60 fps
  • Built-In Wi-Fi with NFC, Bluetooth Smart
  • Dual Pixel CMOS AF
  • Up to 9 fps Shooting and ISO 25600
  • Digital IS 5-Axis Image Stabilization

The specs seem to have adopted many of the popular features found in their 80D model, a popular choice used by Vloggers like Casey Neistat. Additionally, you have the advantage of Digital IS 5-Axis Image Stabilization, a big plus for handheld shooters looking to minimize shakiness.

While Canon's traditional DSLR models remain a relatively solid choice for photographers, I Canon needed to step it up with the video features of future mirrorless bodies.

The M5 is a move in the right direction offering Canon's stellar Dual-Pixel AF technology and video-specific features like focus peaking. The lack of 4K support will make it a tough sell for video shooters as Sony's a6300 and Panasonic's G7 offer 4K capabilities within the same price-point.

Buying into Canon's EOS-M lens family also isn't the best financial decision as no one knows what the future of Canon's mirrorless line will entail, but existing Canon EF and EF-S lenses can be used with a $125 adapter.

Pre-orders are now open on B&H Photo and Amazon with units planned to ship in November.