Asia Pacific Smartphone Camera Lens Market 2021 Technology Development, Key Manufacturers, Forecast Based on Major Drivers and Trends Up to 2026

Latest released, the research study on Asia Pacific Smartphone Camera Lens Market Report Forecast 2021 - 2026, offers a detailed overview of the factors influencing the global business scope. Asia Pacific Smartphone Camera Lens Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Asia Pacific Smartphone Camera Lens. The study covers emerging player's data, including competitive landscape, sales, revenue and global market share of top manufacturers are: Ability Opto-Electronics Technology Co. Ltd, AAC Technologies, Cowell Optics, IM Co. Ltd, Kantatsu Co. Ltd, SEKONIX Co. Ltd, Genius Electronic Optical (GSEO), Sunny Optical Technology Company Limited, Largan Precision Company Limited, Union Optech (Zhongshan) Co., Ltd, Kinko Optical Co. Ltd.

The Asia Pacific Smartphone Camera Lens Market is expected to reach a CAGR of 6.00% during the forecast period 2021-2026.

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Industry Updates:

- In December 2019, AAC Technologies Holdings Inc. signed a strategic cooperation framework agreement with Shenzhen Pingshan District Government during the 2019 Shenzhen Global Investment Promotion Conference and planned to invest as much as 7 billion yuan on R&D and manufacturing of precision camera modules in Pingshan. The agreement is also expected to benefit smartphone camera lenses offered by the company.

Market Overview:

- According to GSMA, the smartphone adoption rate is expected to reach 81% during the forecast period, an increase of 26.5% as compared to 64% during 2019. The growth is moderate but the trend towards replacing the existing models with the ones equipped with the latest technological incorporation is expected to provide growth opportunities to the smartphone camera lens vendors.
- Looking at some of the last year's best smartphones including the Google Pixel 4, Huawei Mate 30 Pro, and the Apple iPhone 11, it is evident that the trend of mobile photography will continue and prove as a point of differentiation for the vendors in the region and therefore intensify the price competition.
- However, due to the recent shut down of businesses across China owing to the influence of Coronavirus is expected to influence the smartphone camera lens market negatively, as prices of hardware components may increase over time due to no production and exhaustion of stocks maintained by the manufacturers in few months. In the short run the market will suffer due to lower demand and supply chain disruptions but in the long run, the market is expected to witness growth owing to technological advancements in CMOS and others.
- For instance, in Q1 2020, AAG Technologies holdings Ltd. revenue and gross profit declined by 5.1% and 27.1% YoY, to RMB 3.56 billion and RMB 823 million, respectively, whereas gross margin narrowed by 7.0 percentage points YoY to 23.1%. this resulted in the net profit decreased by 87.8% YoY to RMB 53 million majorly due to seasonality factors and augmented by the outbreak impact of COVID-19, which significantly affected the operation and production utilization of the Group. Such trends are expected to be noticed more for other vendors for the current year.

China is Expected to Witness Significant Growth

- Among all the regions, China is witnessing a Spurr in demand for smartphones. Huawei, the Chinese tech giant, is reportedly stated to ship approximately 200 million units in 2020 alone. On the other hand, the various other brands like Oppo, Vivo, and Xiaomi are expected to ship a huge number of smartphones. Due to this, a single Chinese brand is expected to order anywhere between 400 to 500 million optical lenses in 2020.
- As a result, Owing to their capabilities, companies like Largan Precision, Sunny Optical Technology, Ofilm Tech, Q Technology, and Truly Opto-Electronics, to name a few, are expected to be sharing most of these lens orders by Chinese smartphone vendors in 2020.
- To leverage the competitive advantage on price, most players are shifting their operations to China, Taiwan, and Vietnam. The regional market is between players mainly delivering sub-5Mp resolution cameras for the computing and low-end mobile fronts and players producing above-5Mp for high-end rear mobile cameras.
- Most smartphone manufacturers in the region are also driving innovation in the market studied for instance, Huawei Technologies Co. Ltd, in 2019, launched its smartphone P Smart Pro, with a pop-up selfie camera module. Another company, Vivo Communication Technology Co. Ltd, a Chinese technology company, in Q1, 2020, launched its smartphone Vivo S1 Pro, with a rear camera module in India

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