Global Camera Lens Market Projections to 2024: Increase in the Number of Smartphone Sales Spurs the Industry

DUBLIN, July 26, 2019 /PRNewswire/ -- The "Camera Lens Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

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The camera lens market is likely to witness a CAGR of over 12.5% during the forecast period 2019-2024.

The new EOS R System and RF Mount (interchangeable lens mount) with the facility of six full frame lenses take the heritage of the existing EOS System to new heights.

    --  The camera lens market is directly dependent on the digital camera and
        smartphones sales, as they are the primary applications for the product.
        Smartphones have witnessed a rise in sales over the past two decades,
        thus driving the growth of the studied market.
    --  Technological improvement such as the image stabilization, faster
        processors for digital cameras, and a significant increase in storage
        devices capacity and speed has provided the essential push for the
        market to evolve.
    --  The growing demand for social media users to keep par with the latest
        trends like Instagram, snap chat with the facility of product
        photography or portrait photography, opt for a lens with a wider
        aperture. This has also a significant impact on the growth of the
        market.
    --  However, the demand for cameras in the interchangeable and changeable
        camera market is expected to experience slow growth due to continued
        improvement in the smartphone camera market. Thus, it will impact the
        camera lens market, with the demand expected to hover around 10 million
        in interchangeable and 11 million in non-interchangeable camera lens for
        the year 2018.

Key Market Trends

Mobile Phone Cameras Expected to Hold Significant Share

    --  Smartphones nowadays have become a device, common with a dual primary
        camera setup where some players have gone to the extent of integrating
        triple quad or more cameras within a single device. These developments
        have profoundly impacted the demand for camera lens in the smartphone
        market. Incremental innovations in developing security applications such
        as facial-recognition within a smartphone are also generating robust
        demand for high-performance camera lens in the smartphone sector.
    --  According to the Korea Herald, approximately 42% of all smartphones sold
        globally in July 2018, featured a dual or triple rear camera indicating
        the increased inclination towards multiple camera categories.
    --  The increasing demand for wide-angle and fisheye lenses are becoming
        increasingly popular in the smartphone industry because of its variety
        of inspection application. The low profile and small physical sizes of
        these lenses, combined with small sensor formats for which the lenses
        were designed, allow for very compact camera packaging.
    --  Smartphones and tablet vendors use Mpow Clip-On 180 Degree Supreme
        Fisheye Lens for their dual camera feature in mobile phones, which is a
        clip-on lens designed to fit virtually any camera lens. Thus the demand
        for dual camera feature in the smartphone is increasing and penetrating
        the camera market growth.

Asia-Pacific Region to Witness Larger Market Share

    --  In Asia-Pacific, increasing focus and investment toward technology, by
        major players, are the factors driving the market to become the largest
        for the camera lens. The increasing number of players in the region has
        led to a rise in collaborations in the market, which is boosting the
        focus toward technology.
    --  For instance, in August 2018, Japan-based Tamron launched a new
        ultra-wide-angle zoom lens, the 17-35mm F/2.8-4 Di OSD (Model A037), for
        35mm full-frame DSLR cameras. The Moisture-Resistant Construction and
        Fluorine Coating, help to enhance the user's photographic experience.
    --  Huawei, a China-based company has launched an Android smartphone that
        uses dual-camera technology to let owners refocus photos after they have
        been taken. The feature is being implemented by the collaboration
        between the Chinese tech firm and German camera-maker Leica.

Competitive Landscape

The camera lens market is highly fragmented. Overall, the competitive rivalry among existing competitors is high. Moving forward, the technical innovations strategy of different kinds of lense with new attractive features is driving the market. Some of the key players in the market are Canon Inc.and Sony Corporation.

Some of the key developments in the area are:

    --  April 2019 - Sony launched its new 135mm F1.8 full-frame, large-aperture
        telephoto prime lens SEL135F18GM'. The lens is also a new addition to
        the company's G Master series of full-frame E-mount interchangeable
        lenses. The lens comes with Sony's Nano AR coating for reducing any
        flare and ghosting that can occur during backlit portraits shoots.
    --  January 2019 - Nikon launched a new lens for the Indian market, which is
        meant for its Z-series of cameras. The lens is first FX-format lens to
        support direct filter attachment despite starting at a 14 mm focal
        length. This allows users to use different filters such as polarizing
        filters and neutral density filters, which cannot be used with
        conventional ultra-wide-angle lenses.

Key Topics Covered

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers & Restraints
4.3 Market Drivers
4.3.1 Increase in the Number of Smartphone Sales
4.3.2 Rise in the Number of Social Media Users
4.4 Market Restraints
4.4.1 Dynamic Nature of the Market
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Mobile Phone Cameras
5.1.2 Computer Cameras
5.1.3 High-end Digital Camera
5.1.4 Compact Cameras
5.2 By Type
5.2.1 Built-in Lens
5.2.2 Interchangeable Lenses
5.2.2.1 Prime Lens
5.2.2.2 Wide Angle Lens
5.2.2.3 Mid Range Lens
5.2.2.4 Telephoto Lens
5.2.2.5 Other Types of Camera Lenses
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Canon Inc.
6.1.2 Sony Corporation
6.1.3 Nikon Corporation
6.1.4 Eastman Kodak Company
6.1.5 Marshall Electronics Inc.
6.1.6 Thorlabs Inc.
6.1.7 Samsung Electronics Co. Ltd.
6.1.8 Olympus Corporation
6.1.9 Fujifilm Holdings Corporation
6.1.10 Terasic Inc.
6.1.11 SMA Optical Technologies
6.1.12 Largan Precision Company Limited

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/432qqu

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