The camera lens market will observe significant expansion with increasing preference of consumers towards compact and high-quality devices in order to capture professional images and videos. The consistent usage of social media platforms, such as Instagram, Snapchat, and Facebook, has led to higher adoption of quad-lens smartphones as well as professional DSLRs for photography purposes. Furthermore, there is a significant surge in the number of bloggers in travel photography and cinematography. Their incessant requirements to shoot and capture wide as well as detailed images have paved the way for increasing investments in wide-angle lenses.

The increasing adoption of dual-camera smartphones by consumers on account of their impressive zoom capabilities and enhanced image quality has also pushed manufacturers to come up with dual-lens camera systems and telephoto zoom lenses. Besides, several government policies have been regulated in countries like U.S., Japan, and China for the development of self-driving vehicles. This will add positive impetus to the adoption of smart car-use cameras as well as urge auto-manufacturers to incorporate high-performance lenses to enhance the reliability and safety of driverless cars.

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As per a recent report, the global camera lens market size will exceed USD 15 billion in yearly estimation by 2027.

Demand for camera lens market across healthcare applications will achieve considerable traction in the coming years with the growing deployment of advanced technologies. Numerous developments across the healthcare sector have encouraged medical professionals to invest in AR-based image-guided therapies to receive higher flexibility in interventional procedures. It is also helping clinicians to move around the patients in instances of surgeries to gather relevant information.

Besides, there is a higher deployment of AR-based techniques in procedures related to endovascular aneurysm repairs. This technical penetration has led several companies to extend their offerings in image-guided therapies. To cite the same with instance, Microsoft Corporation deployed the AR technology in HoloLens 2, which is a mixed reality device used by surgeons to counter challenges in interventional procedures.

The camera lens market size for the European region will reach a significant value through 2027 owing to the rising government concerns pertaining to the safety of passenger cars. This has increased the focus of automobile manufacturers towards enhancing the camera systems in their vehicles. For instance, in June 2019, a prominent German company, ZF, launched the Dual-cam two lens camera, particularly designed for commercial trucks that can be used in concert with various other ZF ADAS technologies.

The European Commission has also planned to incorporate numerous safety measures like fatigue monitoring systems, lane-keep assistance, as well as emergency braking in all new cars by 2021. In addition, the United Nations Economic Commission for Europe (UN ECE) Regulation that was effective from 2008 helped in replacing the exterior mirrors present in cars with camera-based vision systems. This urged various other automobile firms to deploy 3D cameras which are integrated with fixed focus as well as wide-angle lenses to lend support to autonomous vehicles in precisely recognizing their position and detecting objects.

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Leading camera lens market manufacturers are keen on strategic partnerships and acquisitions to increase their market presence, specifically in the current COVID-19 pandemic. For instance, Canon U.S.A., partnered with Van Wagner Sports & Entertainment LLC, in June 2020 to offer its camera and lens products as well as to help entertainment firms in improving their broadcasting fan experiences.

Fujifilm Holdings Corporation, Huawei Technologies Co., Ltd., Panasonic Corporation, Marshall Electronics Inc., and Nikon Corporation few other major contributors to the industry. These players are also focusing on R&D investments to come up with advanced technologies for customer expansion. Citing the same with an example, Xiaomi Communications Co., Ltd., has revealed its plans of introducing smartphones that are integrated using Samsung's 108-megapixel camera lens in the second half of 2021.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Scope & definitions

1.2    Methodology & forecast parameters

1.3    COVID–19 impact

1.3.1    North America

1.3.2    Europe

1.3.3    Asia Pacific

1.3.4    Latin America

1.3.5    MEA

1.4    Data sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Executive Summary

2.1    Camera lens market 360º synopsis, 2017 – 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Distribution channel trends

2.1.4    Application trends

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