Interchangeable Lens Market Opportunities, Demand and Forecasts (2020-2026)

Rapid digitization in the IT industry is expected to propel growth in the global Interchangeable Lens Market. Fortune Business Insights in a report, titled "Interchangeable Lens: Global Market Analysis, Insights and Forecast, 2019-2026" offers key insights into the market and highlights factors enabling growth. The overall interchangeable lens market is expected to grow from 18.2 Million Units in 2018 to 21.9 Million Units by 2026 at a CAGR of 2.6% during the forecast period. This shows considerable growth in the number of shipments between 2018 and 2026.

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List of Top Key Players Mentioned:

Canon Inc.
Cosina Co., Ltd
Dorr Danubia
Nikon Corporation
Leica Camera AG
Olympus Corporation
Rodenstock
Pentax
Samyang Optics
Schneider Optische Werke GmbH
Sigma Corporation of America
Sony Corporation
Tamron
Tokina
Zeiss

"Diverse Imaging Products of Canon Aids its Expansion Worldwide"

Canon Inc., Dorr Danubia, Olympus Corporation, Samyang Optics, Sony Corporation, Zeiss, Schneider OptischeWerke GmbH, Tamron, Nikon Corporation, Leica Camera AG, and Rodenstock are some of the leading players functioning in the global interchangeable lens market. Among these, companies such as Nikon, Canon, and Sony covered over 80% of the share in the global market in 2018. These companies are planning to continuously refine its diverse imaging technologies in order to expand in the market. In 2018, Canon announced that they have successfully maintained their position in the market between 2013 and 2017. The company is planning to launch new interchangeable lens cameras to expand the culture of video imaging and photography.

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"Special Lenses are in High Demand - A Key Factor Driving Market"

Special lenses are the trendsetters and are likely to influence the imaging industry shift towards smart age. As per lens types, special lenses are high in demand than others. These lenses are manufactured for use in a wide range of cameras to offer different panoramas of the sky, landscapes, crowds, architecture, and interiors. Special lenses such as tilt-shift lens and fisheye lens are estimated to cover a substantial share in the global market in the forecast years.

In 2018, the zoom lens covered the highest share in the global interchangeable market owing to its rising adoption. These lenses are predominantly adopted by enthusiasts, photographers, and professionals across the world.

"Presence of Savvy Players in Asia Pacific Creates Growth Opportunities for the Market"

From a geographical standpoint, Asia Pacific witnessed the highest sales of interchangeable lenses in the year 2018. A total of 8.4 million units were sold in that year and it is anticipated to surpass 9 million shipment units by 2026. This spur is ascribable to escalating tourism, rising per capita income, and social media advertising. Another factor driving the market in this region is the increasing penetration of smartphones, especially in emerging countries.

Other regions such as North America and Europe are estimated to grow considerably during the forecast period.

"Recent Technological Advancements to Spur the Growth"

The rapid growth in digitization is one of the primary factors driving the interchangeable lens market. Considering this, the demand for different types of lens such as prime lens, zoom lens, tilt lens, telephoto lens, fisheye lens among others is expected to increase in the forthcoming years. Moreover, product diversity can reduce the prices of interchangeable lenses, which in turn, is likely to boost the global market. The demand or interchangeable lens camera is increasing as they help in getting high-quality images, offering enough room for photographers to experiment with different interchangeable lenses. A lead analyst at Fortune Business Insights said," Several technological innovations in interchangeable lenses are expected to drive the market in the next few years." These technologies include touch screen devices, higher zoom range, and wireless connectivity are likely to augment demand for interchangeable lens camera. Novel features in interchangeable lenses offer HD recording, which is likely to furnish growth avenues to the market by 2026. Also, mirrorless functionalities are expected to offer a spike in demand for interchangeable lenses.

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