Selbyville, Delaware, March 24, 2021 (GLOBE NEWSWIRE) --
According to latest report “Camera Lens Market by Application (Consumer Electronics, Automotive, Healthcare), Distribution Channel (Online, Offline), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of camera lens will cross $15 billion by 2027. The increasing demand for compact digital cameras for capturing professional images and videos is expected to drive the demand for high-quality camera lens among consumers.
The growing expansion of the healthcare sector along with the adoption of advanced technologies is driving the camera lens market growth. Medical professionals are investing in AR-based image-guided therapy to increase flexibility during interventional procedures. The technology enables clinicians to easily move around the patient during a procedure and receive relevant information. AR-based techniques are gaining immense popularity in endovascular aneurysm repair procedures. This has provided incremental opportunities for companies to expand their offerings in the field of image-guided therapy.
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The Europe camera lens market is estimated to witness a strong growth during the forecast time period. Increasing government concern regarding the safety of passenger cars is encouraging automobile manufacturers to focus on improving camera systems in their vehicles. For instance, The European Commission has mandated several safety measures including the implementation of fatigue monitoring systems, lane-keep assistance, and emergency braking in all new cars by end of 2021. Similarly, the United Nations Economic Commission for Europe (UN ECE) Regulation stipulates replacement of exterior mirrors in cars with camera-based vision systems effective from 2008. Furthermore, several automobile companies are deploying 3D cameras integrated with fixed-focus and wide-angle lenses to enable autonomous vehicles precisely recognize their position and detect objects.
Key participants operating in the camera lens market include Canon Inc., Fujifilm Holdings Corporation, Genius Electronic Optical Co. Ltd., Huawei Technologies Co., Ltd., Largan Precision Company Limited, Marshall Electronics Inc., Nikon Corporation, Olympus Corporation, Panasonic Corporation, Ricoh Company, Ltd., Samsung Electronics Co. Ltd., Sony Corporation, Tamron Co. Ltd., and Carl Zeiss AG. These companies are focusing on strategic partnership and acquisitions to expand their market presence.
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Some major findings of the camera lens market report are:
- The benefits of increased zoom capabilities and improved image quality have driven the acceptance of dual camera smartphones among consumers. This has encouraged manufacturers to develop dual-lens camera systems featuring a telephoto zoom lens.
- The need to shoot wide and detailed images has resulted in increased demand for wide angle camera lens in travel photography and cinematography. The travel bloggers are increasingly investing in wide angle lens to capture expansive landscape photos.
- The rise in the usage of social media channels, such as Instagram, Snapchat, and Facebook, is fueling the demand for quad-lens smartphones and professional DSLRs among users to capture and upload images with superior quality.
- Favorable government policies associated with autonomous driving will propel the development of smart car-use cameras. Several countries including the U.S., Japan, and China have enacted policies to promote the development of self-driving vehicles. This is encouraging automobile manufacturers to implement high performance lenses to improve reliability and safety of driverless cars.
Table of Contents (ToC) of the report:
Chapter 3 Camera Lens Market Insights
3.1 Industry segmentation
3.2 Impact of coronavirus (COVID–19) pandemic
3.2.1 Global outlook
3.2.2 Regional outlook
3.2.3 Industry value chain
3.2.4 Competitive landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Component suppliers
3.3.3 Manufacturers
3.3.4 Technology providers
3.3.5 System integrators
3.3.6 Service provider
3.3.7 Distributors
3.3.8 Vendor matrix
3.3.8.1 Raw material suppliers
3.3.8.2 Component suppliers
3.3.8.3 Manufacturers
3.3.8.4 Technology providers
3.3.8.5 System integrators
3.3.8.6 Service provider
3.3.8.7 Distributors
3.4 Technological & innovation landscape
3.4.1 AR/VR
3.4.2 Impact of AI & IoT
3.4.3 Nano–camera lens
3.4.4 Image stabilization
3.4.5 Special optical glass
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.7 Price trend analysis, 2017 – 2027
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.