Smartphones Camera Lenses Market Surges Towards US$ 10,116.07 Million By 2030, Exclusive Analysis

New York, July 12, 2023 (GLOBE NEWSWIRE) -- The “Global Smartphones Camera Lenses Market” published by Consegic Business Intelligence, stated that the market was worth USD 4,965.50 million in 2022 and is expected to reach over USD 10,116.07 million by the year 2030, growing at a CAGR of 9.7%.

A smartphone camera lens is a small optic device used to capture images and videotape on a smartphone. Smartphone camera lenses are designed in a series of glass or plastic arrangement in a specific way to bend and concentrate light onto the smartphone's image detector. Different types of lenses used in smartphones include wide-angle lenses, telephoto lenses, and macro lenses.

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The rising trend of social media platforms among consumers is driving the growth of smartphone camera lenses market. Consumers are increasingly deploying smartphones for capturing selfies and videos for sharing on social media platforms. Moreover, the rising interest of consumers in photography is propelling the growth of the market. For instance, in August 2022, TAMRON Europe GmbH launched a dedicated application for smartphones and tablets running with Android OS called TAMRON Lens Utility MobileTM to allow easy customization of camera lenses for video and still photography.

The adoption of smartphone camera lenses in Augmented Reality (AR) and Virtual Reality (VR)  applications to offer immersive and engaging experience to the users is expected to present potential opportunities for the market growth during the forecast period. However, the high cost of integrating camera lenses in smartphones is restraining the growth of the market.

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Smartphones Camera Lenses Market Growth Drivers:

• The increasing adoption of premium and high-priced smartphones among consumers is driving the growth of the market.
• The advancements in smartphone camera lens technology to provide excellent image quality, fast autofocus and striking HDR capabilities is driving the growth of the market.
• The rising trend of social media platforms among consumers is accelerating the growth of the market.

Restraints

• The high manufacturing costs of camera lenses in smartphones is restraining the growth of the market. 

Opportunities

• The adoption of smartphone camera lenses in Augmented Reality (AR) and Virtual Reality (VR) applications to offer immersive and engaging experience to the users is expected to present potential opportunities for the market growth during the forecast period.

Global Smartphones Camera Lenses Market Segmentation Details:

Based on Component, the lens segment contributed the largest shares to the market growth in 2022. The increasing demand for high-quality lenses to capture sharp and detailed images is driving the growth of the market. Consequently, the application of camera lenses for capturing a larger field of view for landscape and group photo shoots is accelerating the growth of the market.

Based on Type, the 48 MP segment accounted for the maximum revenue share in the year 2022. The ability of 48 MP smartphone camera lenses to offer live focus feature coupled with a natural blur effect in the background is contributing to the growth of the market. Moreover, the ability of 48 MP camera to provide advanced zoom capabilities and enhanced performance is propelling the growth of the market.

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Based on Technology, the wide-angle segment accounted for the maximum revenue share in the year 2022. Wide-angle lenses have a shorter focal length compared to standard lenses, allowing for a wider field of view. Consequently, the application of lenses in day-to day photography activities is propelling the growth of the market.

Based on Compatibility, the android segment accounted for the maximum revenue share in the year 2022. The cost-effectiveness and the ability to capture high-quality images with android smartphones is driving the growth of the market. Moreover, the cameras are equipped with 108 MP ultra-wide and telephoto lenses to capture detailed images, resulting in the market growth.

Based on the Sales Channel, the offline segment accounted for the maximum revenue share in the year 2022. Customers exhibit a preference for physical product testing before purchase, particularly for expensive items such as smartphone camera lenses. Therefore, offline stores provide the opportunity to understand product features and functionality, resulting in the growth of this segment.

Based on the Application, the front-end camera contributed the largest shares in the year 2022. Front-end cameras are located on the front side of the smartphone and are well-suited for capturing selfies and attending video calls. Moreover, front-end cameras are equipped with beauty modes and filters to apply different effects on selfies and videos for the production of high-quality content.

Based on Region, North America accounted for the largest revenue share in the year 2022. The increasing demand for consumer electronics such as smartphones, tablets, and other personal electronic devices is driving the growth of smartphones camera lenses market. Moreover, the technological advancements in the region is accelerating the growth of the market.

Recent Developments

• In October 2021, Sony Europe B.V. launched new smartphone called Xperia PRO-I featuring 1.0-type Exmor RS image sensor with phase detection autofocus to offer excellent low-light performance and high dynamic range.
• In March 2020, Huawei Device Co., Ltd. introduced HUAWEI P40 Pro, and HUAWEI P40 smartphones featuring 1/1.28-inch sensor to produce 10x optical zoom for enhanced low-light performance.

Key Market Highlights

• The global smartphones camera lenses market size is estimated to reach USD 10,116.07 million by 2030 and grow at a CAGR of 9.7% during the forecast period (2023-2030).
• Globally, smartphones camera lenses market is trifurcated based on component into lens, sensor, and actuator.
• In the context of type, the market is segregated into less the 5 MP, 6 to 12 MP, 13 to 24 MP, 32 MP, 48 MP, 64 MP, and 108 MP and above.
• In the context of technology, the market is separated into wide-angle, fisheye, telephoto, and others.
• Based on the compatibility, the market is bifurcated into iOS and android.
• Based on sales channel, the market is separated into online and offline.
• In the context of application, the market is separated into front-end camera and rear-end camera.
• The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
• Asia-Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in smartphones camera lenses market.

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List of Major Global Smartphones Camera Lenses Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

• Largan Precision Co. Ltd.

• Sunny Optical Technology (Group) Company Limited

• GeniuS Electronic Optical

• SEKONIX Co., Ltd.

• Kantatsu Co., Ltd.

• Asia Optical Co., Inc.

• Ability Opto-Electronics Technology

• Corning Incorporated

• Omnivision

Global Smartphones Camera Lenses Market Segmentation: 

• By Component

• Lens
• Sensor
• Actuator

• By Type

• Less the 5 MP
• 6 to 12 MP
• 13 to 24 MP
• 32 MP
• 48 MP
• 64 MP
• 108 MP and above

• By Technology
  • Wide-Angle
  • Fisheye
  • Telephoto
  • Others
• By Compatibility

• iOS
• Android

• By Sales Channel
  • Online
  • Offline
• By Application

• Front-end Camera
• Rear-end Camera

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Key Questions Covered in the Smartphones Camera Lenses Market Report

• What are smartphones camera lenses?

- Smartphones camera lenses play a crucial role in controlling the flow of fuel and exhaust gases in an engine cylinder. Smartphones camera lenses transmit air through the inlet and exhaust valves into the chamber.

• What will be the potential market valuation for the smartphones camera lenses industry by 2030?

- Smartphones cameras accounted for the largest revenue share of USD 4,965.50 million in 2022 and is expected to reach USD 10,116.07 million in 2030, registering a CAGR of 9.7% during the forecast period.

• Based on current market trends and future predictions, which geographical region will have the largest impact on the smartphones camera lenses growth in the coming years?

- North America accounted for the largest revenue share in the year 2022. The increasing adoption of smartphones among consumers is driving the market growth.

• Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?

- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period. The growing trend of social media platforms among consumers is driving the growth of the regional market.

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