Having read most of the replies I would like to remind the nay sayers of Canon that they were the same broken record before the EOS came out. I then set ALL systems back to the stone age for nearly 30 years. It also took Canon about 2 years before the EOS 1 came out after introducing the EOS system. Again with it they crushed Nikon and all others in the professional market, in particular the action and sports venues where the USM smoked the old fashioned mechanical and slow AF of other systems.
Canon as has been said looks at technology and says how can we do it better?
They are going to be around for a long time, the market will likely shrink but will still be robust as it was even before the AE-1 took the market by storm leaving all behind as well.
As also has been said Canon does not load the cameras up with tons of bells and whistles knowing 99% of users will never use them. Even on this site it seems like most everyone brags they do not meter or use AF it seems so why bother having those features even?
Canon makes a solid product. It meets future needs with system innovation not just fad bells and whistles that are difficult to access like some others are.
As far as leaving the market I would see Sony doing it before any other would as they are somewhat fickle in loyalty to the consumers and chase the latest fad gizmo of the month. Nikon, Canon, Olympus and Pentax will likely be here for a long time as they all have a strong market presence in optics and imaging.
Canon has the horsepower to continue innovating as they have been all along. Look at the EOS R system. No one has anything even remotely like it with the 3rd ring on the lens and the control converter that makes ALL the old EF lenses even better. And for the mount naysayers it will now be able to use all the old FD, FL, R and screw mount lenses Canon ever made (Leica too).
So yes things are slowing down for Canon, and all others too.

Canon themselves are making these statements and predictions, read it. No one else is putting words in their mouths here, open your eyes. FYI I was a longtime Pro Canon and Nikon gear user (40years) but I moved on to mirrorless for many reasons, but mainly better tech and features. . Canon's tech leadership in the past, is just that, in the past.

Canon's most recent releases are seriously lacking and buyers won't wait for them to find their "mojo" again, if they can. You can hold on to your belief that Canon will rule again in innovation, but the reality is that they haven't lead in tech for some years now and their most recent releases didn't raise their game very much. No one else is standing still to let them catch up. Canon is making corporate-wide decisions now and they see greater profits in corporate and medical fields, NOT in consumer cameras in a shrinking market. It doesn't mean they will abandon cameras, but it could very well mean they are shifting their emphasis and focus away from the ALL-IN effort and spending of money it will take to stay near the top against the toughest competitors they have ever faced. And these new toughest competitors are releasing new and better tech at a rapid-fire pace, something Canon has never done before. It is NOT your Father's camera world anymore. Wake up and see the new reality clearly. There are some great new players who won't take a backseat to Canon, ever.

So I wanted to ask the folks here. Canon and Nikon released their first Full Frame Mirrorless bodies in late 2018 and they were decent starts for both companies, but were of course lacking compared to Sony's 5 year head start.

A lot of folks are claiming that Canon can never catch Sony but I disagree, especially since Canon has been doing Mirrorless, just not FF. At least their first model the EOS R has Eye AF where Nikon's did not and they are priced closer to Sony.

Now one other thing I wanted to share, I recently attended ImagingUSA 2019 and had a chance to have a lengthy chat with a man from Canon's CPS while my 6D2 was being serviced and although he couldn't give specifics, when I mentioned that I think Canon will surpass Sony in 18-24 months, he smiled and said "Wait till the world sees what we have coming, it will blow people's minds".

What do you think, will Canon catch and surpass Sony or is Canon gasping for air?