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April 24, 2020, 5:12 a.m. EDT

Covid-19 Is Impacting The Camera Lens Market Global Outlook 2020-2025:Largan Precision Co. Ltd, Sunny Optical Technology (Group) Co. Ltd, Genius Electronic Optical Co. Ltd

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Apr 24, 2020 Xherald -- Market Insights Reports has recently curated a research report titled, Global Camera Lens Market Research Report Forecast 2020 - 2025 . The report is structured on primary and secondary research methodologies that derive historic and forecast data. The global Camera Lens market is growing remarkably fast and is likely to thrive in terms of volume and revenue during the forecast period. Readers can gain insight into the various opportunities and restraints shaping the market. The report demonstrates the progress and bends that will occur during the forecast period.

The camera lens market was valued at USD 4.13 billion in 2019 and is expected to reach USD 5.94 billion by 2025, registering a CAGR of 6.52% during the forecast period (2020 - 2025).

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Top Key Players in the Global Camera Lens Market: Largan Precision Co. Ltd, Sunny Optical Technology (Group) Co. Ltd, Genius Electronic Optical Co. Ltd among others.

Key Developments:

- May 2019 - AAC technologies and longcheer invested RMB 6 billion for the expansion of Nanning electronic information industry project. AAC Technologies invested RMB 5 billion in Nanning to expand the optical module industry project, with businesses including but not limited to, the R&D and manufacturing of optical modules, the upstream and downstream devices, innovation and research zone for the production, the study and commercialization of optical technology.
- June 2019 - Tamron has released a 1/3- 5-50mm F/1.6 lens (model:M13VG550IR) for a wide variety of applications including city/street and traffic/vehicle surveillance. The current version of 5-50mm lens has a standard Telephoto Vari-Focal lens with excellent high-fidelity and high-sensitivity.

Key Market Trends

Mobile Phone Cameras are Expected to Hold Significant Share

- Smartphones nowadays have become a device, common with a dual primary camera setup where some players have gone to the extent of integrating triple quad or more cameras within a single device. These developments have profoundly impacted the demand for camera lens in the smartphone market. Incremental innovations in developing security applications, such as facial-recognition within a smartphone, are also generating robust demand for high-performance camera lens in the smartphone sector.
- To gain and improve market shares in the mobile devices market, smartphone manufacturers have been focusing on improving on the offered features to attract the customers. Owing to evolving consumer demands, mobile lens OEMs/ODMs have also been continuously investing in innovations and new developments.
- The improved processing speed and RAM/ROM have further helped the camera vendors use software to provide enhanced image capturing and processing capabilities. Wide-angle cameras, monochromatic camera, and depth capturing camera are newly being adopted by the mobile manufacturers with the prices declining for these products.

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Asia-Pacific Region Occupies the Largest Market Share

- Growing adoption of consumer electronic devices in Asia-Pacific countries is contributing to the markets growth positively. According to Zenith estimates, five markets had smartphone penetration approximately above 90% in 2018, which includes Netherlands (94%), Taiwan (93%), Hong Kong (92%), Norway, and Ireland (each at 91%). China was expected to have the highest number of smartphone users (around 1.3 billion), followed by India, with approximately 530 million users. Such statistics indicate the potential of the region camera lens.
- Growing demand for consumer electronics in India has also contributed to the growth of the regional market. According to the Federation of Indian Chambers of Commerce and Industry (FICCI), electronics demand in India is estimated to register a CAGR of 25% during 2012-2020.
- Huawei, a China-based company, launched an Android smartphone that uses dual-camera technology to let owners refocus photos after they have been taken. The feature is being implemented by the collaboration between the Chinese tech firm and German camera-maker Leica.

Significant Features that are under Offering and Key Highlights of the Reports:

- Detailed overview of Camera Lens Market
- Changing market dynamics of the industry
- In-depth market segmentation by Type, Application etc
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Camera Lens Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2015 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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