Global Camera Lens Market to Reach US$ 7.1 Billion by 2028, Propelled by the Growing Popularity of Social Media

August 16, 2023 | Electronics and Semiconductors

The latest report by IMARC Group, titled “Camera Lens Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global camera lens market size reached US$ 5.0 Billion in 2022. A camera lens is an essential component of a camera that is essential in capturing and focusing light onto the camera's image sensor or film. Some commonly known camera lenses, including prime lenses or zoom lenses, offer photographers versatile options for composing their shots and achieving the desired creative effects. They are precision optical devices composed of multiple glass or plastic elements that work together to form a high-quality image. The lens determines various aspects of the captured image, including focal length, depth of field, perspective, and overall image quality. The focal length of a camera lens determines its angle of view, ranging from wide-angle to telephoto. Additionally, wide-angle lenses capture a broader field of view, making them suitable for landscape or architectural photography, while telephoto lenses provide a narrower angle of view, ideal for capturing distant subjects such as wildlife or sports events. They also control the depth of field, influencing the amount of foreground and background blur. The quality of a camera lens is essential for sharpness, clarity, and minimizing optical aberrations such as distortion, chromatic aberration, and vignetting. Nowadays, a camera lens allows photographers to achieve selective focus, emphasizing a specific subject while blurring the surroundings.

Global Camera Lens Market Trends:

The market is primarily driven by the rising popularity of photography and videography. In addition, the increasing demand for high-quality camera lenses is influencing market growth. Also, with the increasing accessibility of cameras, including smartphones with advanced camera capabilities, more individuals are seeking additional lenses to enhance their photography skills and achieve professional-level results propelling the market growth. Moreover, the growing social media platforms and the increasing need for visually appealing content are accelerating the demand for camera lenses. Individuals are constantly looking for ways to improve the quality of their photos and videos to stand out in the crowded digital landscape, driving the adoption of specialized lenses. Besides this, several technological advancements led to the development of innovative camera lens features augmenting the market growth. Along with this, the incorporation of new technologies such as image stabilization, autofocus systems, and advanced optical coatings to improve the performance and image quality of lenses are providing a positive thrust to the market growth. These advancements attract photography enthusiasts and professionals who are seeking advanced equipment to capture exceptional images. Apart from this, the expansion of the tourism and travel industry is another contributing factor to the growth of the camera lens market. As more individuals engage in travel and adventure activities, the demand for lenses suitable for capturing landscapes, wildlife, and action shots is influencing market growth. Furthermore, the rising demand for camera lenses among commercial photographers and videographers requires specialized lenses to capture product images, fashion shoots, and promotional videos, which is driving the market growth. Looking forward, IMARC Group expects the market value to reach US$ 7.1 Billion by 2028, exhibiting a CAGR of 5.8% during the forecast period (2023-2028).

Market Summary:

  • Based on the type, the market has been categorized into built-in lenses, interchangeable lenses (prime lens, wide angle lens, mid-range lens, telephoto lens, and others.
  • On the basis of the distribution channel, the market has been divided into online and offline. Nowadays, offline exhibits a clear dominance in the market.
  • Based on the application, the market has been classified into consumer electronics (mobile, AR/VR/MR, and others), automotive, medical, and others. At present, consumer electronics holds the leading position in the market.
  • On the geographical front, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Amongst these, Asia Pacific presently accounts for the largest market share.
  • The competitive landscape of the industry has also been examined in the report, with some of the key players being 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Type
  • Distribution Channel
  • Application
  • Region
Types Covered
  • Built-in Lens
  • Interchangeable Lens: Prime Lens, Wide Angle Lens, Mid-Range Lens, Telephoto Lens, Others
Distribution Channels Covered Online, offline
Applications Covered
  • Consumer Electronics: Mobile, AR/VR/MR, Others
  • Automotive
  • Medical
  • Others
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered  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, TAMRON Co. Ltd. etc.
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Camera Lens Market to Reach US$ 7.1 Billion by 2028, Propelled by the Growing Popularity of Social Media
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