The camera lens market has witnessed substantial growth in recent years owing to the growing trend of photography and videography. Camera lenses are optical devices through which light from the subject enters inside the camera body to form an image on the image sensor. They are available in various focal lengths and apertures to capture images with different perspectives. Wide-angle lenses enable capturing of landscapes and group photos, while telephoto lenses are suitable for close-up and zoom shots from a distance. Macro lenses are designed for close-up photography of small subjects. The growing influence of social media has boosted self-portrait culture using DSLR and mirrorless cameras. Moreover, the use of high-quality lenses enhances image quality and low-light photography performance.
The Global camera lens market is estimated to be valued at US$ 6073.5 Mn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Camera Lens market are Aalto Bio Reagents, Fapon Biotech, Fujirebio, Merck KgaA, and F. Hoffmann-La Roche, among others.
The Camera Lens Market Growing use of DSLR cameras and camera phones is fueling the demand for high-quality photo and video capabilities. Consumer inclination towards photography and videography as hobbies has supported the sale of interchangeable lenses.
Major players are focusing on global expansion plans and collaborating with e-commerce retailers to strengthen their presence across regions. Growing photography and videography industry in developing countries will drive the adoption of premium camera gear in the upcoming years.
Market Key Trends
Mirrorless Camera Lens Market adopting smaller form factors with improved image quality are gaining traction among photography enthusiasts and professionals. Their interchangable lens capability and compact size compared to DSLR lenses make them suitable for travel photography and vlogging. Leading brands are developing high-performing compact prime lenses and super-telephoto zoom lenses to capture moments from long distances. The rising popularity of social media platforms has increased self-portrait culture through photography skills development from experts online through tutorials and workshops focusing on specific niches.
Porter’s Analysis
Threat of new entrants: New companies would need significant capital investment to enter the market and compete with current major players.
Bargaining power of buyers: Buyers have moderate bargaining power as they can choose from wide range of lens options from multiple manufacturers.
Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials required are available from multiple suppliers globally.
Threat of new substitutes: Substitutes like digital lenses pose limited threat currently due to their high cost and limitations.
The geographical region where the camera lens market is concentrated in terms of value is Asia Pacific region. Countries like China, Japan and South Korea are major manufacturing hubs for camera and photography equipment. camera lens brands source raw materials and components from this region to manufacture affordable yet high quality lenses.
North America region is expected to witness the fastest growth in the camera lens market during the forecast period. Increased consumer spending on cameras and other photography equipment in United States is driving the adoption of technologically advanced lens solutions in the region. Growing interest of photography and videography as hobbies among population is further supporting the camera lens market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.