Camera Lens Market Size is Expected to be Valued at USD 4.7 Billion in 2022, Demand for Smartphone Camera

The global camera lens market is expected to be valued at US$ 4.7 billion in 2022 and grow at a 6.8% CAGR over the forecast period 2022-2028. A camera lens (also referred to as a photographic lens or a photographic objective) is an optical lens or an assembly of lenses that is used in combination with a camera body and a mechanism to produce photographs of objects that can be preserved chemically or electronically on photographic film or on other media. It costs about $570 and is designed for use in both DSLRs and 35mm SLRs and includes mounts for Sigma, Canon, Nikon, Sony/Minolta and Pentax cameras. Wide-angle lenses are good for taking panoramic photos of landscapes.

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Digital Cameras Accounted for Higher Revenue Share in Global Camera Lens Market:
Based on application type, global camera lens market is segmented into phone cameras, computer cameras, digital cameras, others. Digital Cameras is accounted for higher revenue. A digital camera is a camera that captures photographs in digital memory. Most cameras produced today are digital, and while there are still dedicated digital cameras, many more cameras are now incorporated into mobile devices like smartphones, which can, among many other purposes, use their cameras to initiate live video-telephony and directly edit and upload image to others. High-end, high-definition dedicated cameras are also widely used by professionals and others who want to take pictures of better quality.

North America leads the Global Camera Lens Market:
Based on regional analysis, global camera lens market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America global camera lens market contributed the largest share in 2021 due to robust demand for high-performance camera lenses in the smartphone industry. With the key factors like development of security applications such as face recognition inside a smartphone. As per the survey, the share of Americans that own smartphones is now 81%, up from just 35% which significantly boost the market.

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Strategic Acquisitions, Merger, Agreements, Collaborations and Partnerships are the key strategies adopted by market players:
The global camera lens market further reveals that the key player's increasingly adopting strategies such as strategic acquisitions, merger, agreements, collaborations and partnerships to enhance market revenue share. For instance, April 2019 - Sony launched its new 135mm F1.8 full-frame, large-aperture telephoto prime lens SEL135F18GM'. The lens is also a new addition to the company's G Master series of full-frame E-mount interchangeable lenses. January 2019 - Nikon launched a new lens for the Indian market, which is meant for its Z-series of cameras. The lens is first FX-format lens to support direct filter attachment despite starting at a 14 mm focal length.

The global camera lens market is segmented based on product type, application and region.
By Product Type
• Built-in Lens
• Interchangeable Lenses
• Other

By Application
• Phone Cameras
• Computer Cameras
• Digital Cameras
• Others

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Key player's profiles in the global camera lens market are: Largan, Sunny Optical, GeniuS Electronic Optical (GSEO), Sekonix, Kantatsu, Kolen, Cha Diostech, Asia Optical, Newmax, Ability Opto-Electronics, Kin.

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