Camera Lens Market Insights with statistics and Growth Prediction 2027

Camera Lens Market Insights with statistics and Growth Prediction 2027

The camera lens market analysis document represents a detailed collection of prioritized market definitions, industry scope and reach, and pivotal industry insights. Information about the many pitfalls of the market as well as the frequent challenges encountered by core industry players have been summarized in the report. That apart, the document also endorses details about the numerous driving parameters impacting the revenue landscape of this vertical.

The camera lens market will observe significant expansion with increasing preference of consumers towards compact and high-quality devices in order to capture professional images and videos. The consistent usage of social media platforms, such as Instagram, Snapchat, and Facebook, has led to higher adoption of quad-lens smartphones as well as professional DSLRs for photography purposes. Furthermore, there is a significant surge in the number of bloggers in travel photography and cinematography. Their incessant requirements to shoot and capture wide as well as detailed images have paved the way for increasing investments in wide-angle lenses.

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The increasing adoption of dual-camera smartphones by consumers on account of their impressive zoom capabilities and enhanced image quality has also pushed manufacturers to come up with dual-lens camera systems and telephoto zoom lenses. Besides, several government policies have been regulated in countries like U.S., Japan, and China for the development of self-driving vehicles. This will add positive impetus to the adoption of smart car-use cameras as well as urge auto-manufacturers to incorporate high-performance lenses to enhance the reliability and safety of driverless cars.

Demand for camera lenses across healthcare applications will achieve considerable traction in the coming years with the growing deployment of advanced technologies. Numerous developments across the healthcare sector have encouraged medical professionals to invest in AR-based image-guided therapies to receive higher flexibility in interventional procedures. It is also helping clinicians to move around the patients in instances of surgeries to gather relevant information.

Besides, there is a higher deployment of AR-based techniques in procedures related to endovascular aneurysm repairs. This technical penetration has led several companies to extend their offerings in image-guided therapies. To cite the same with instance, Microsoft Corporation deployed the AR technology in HoloLens 2, which is a mixed reality device used by surgeons to counter challenges in interventional procedures.

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The camera lens market size for the European region will reach a significant value through 2027 owing to the rising government concerns pertaining to the safety of passenger cars. This has increased the focus of automobile manufacturers towards enhancing the camera systems in their vehicles. For instance, in June 2019, a prominent German company, ZF, launched the Dual-cam two lens camera, particularly designed for commercial trucks that can be used in concert with various other ZF ADAS technologies.

Fujifilm Holdings Corporation, Huawei Technologies Co., Ltd., Panasonic Corporation, Marshall Electronics Inc., and Nikon Corporation few other major contributors to the camera lens market. These players are also focusing on R&D investments to come up with advanced technologies for customer expansion. Citing the same with an example, Xiaomi Communications Co., Ltd., has revealed its plans of introducing smartphones that are integrated using Samsung's 108-megapixel camera lens in the second half of 2021.

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