The latest research study “Camera Lens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global camera lens market reached a value of US$ 4.68 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 6.77 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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A camera lens, also known as a photographic lens, is an optical lens or assembly of lenses mounted to the camera body. It is made of fluorite, concave, or quartz glass that allows adequate light to pass through them for capturing a sharp photo and offers enhanced optical and scratch-resistant properties. It can be differentiated by various descriptors such as angle width, speed, aperture width, focal length, and magnification. Owing to these properties, camera lenses find extensive applications in consumer electronics, automotive, and healthcare industries. Camera Lens Market Trends and Drivers:
The market is primarily driven by the escalating demand for high-performance camera lenses in the automobile industry. These lenses are used in rearview optics, heads-up displays (HUDs), backup camera systems, and location-sensing devices.
Besides this, various technological advancements in digital cameras, such as faster processors, image stabilization, and increasing speed and storage capacity, are also contributing to the market growth. In addition, manufacturers are offering different types of lenses, such as standard, macro, telephoto, wide-angle, and specialty lenses, that can be utilized in various circumstances.
Moreover, medical professionals are adopting augmented reality (AR) based image-guided therapy to increase flexibility during interventional procedures. This, coupled with the rising utilization of lenses with a wide aperture for product or portrait photography, is creating a favorable market outlook across the globe.
Key highlights of the report:
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Global Camera Lens Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AAC Technologies Holdings Inc., Ability Opto-Electronics Technology Co. Ltd., Canon Inc., FUJIFILM Corporation, Genius Electronic Optical Co. Ltd., Haesung Optics Co. Ltd., Largan Precision Co. Ltd., Nikon Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., SEKONIX Co. Ltd., Sony Corporation and TAMRON Co. Ltd.
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The report has segmented the market on the basis of region, type, distribution channel and application.
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