According to the business intelligence report titled ‘Camera Lens Market Size By Application (Consumer Electronics [Mobile, AR/VR/MR, Digital Camera], Automotive, Healthcare), By Distribution Channel (Online, Offline), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend Analysis, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global camera lens market is anticipated to accrue notable gains between 2021-2027.
 

Rising popularity of photo & video sharing trend on social networking platforms, surging smartphone & digital camera sales, and technological developments in digital camera equipment are key factors driving global camera lens industry augmentation.
 

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Moreover, the growth of automotive sector, coupled with increasing adoption of driverless vehicles will aid market expansion over the analysis period. While rising demand for smartphones equipped with professional grade cameras will facilitate industry growth, high cost of specialty lenses, and advent of computational photography will act as challenges.
 

Based on distribution channel, the industry is divided into offline, and online. Amon these, online segment is anticipated to expand substantially between 2021-2027 owing to consumer preference for online shopping. Moreover, consumers can choose the right product after comparing prices, and looking at a wide variety of products with regard to their desired price range.
 

Speaking of application scope, global camera lens market sphere is bifurcated into consumer electronics (mobile, digital camera, AR/VR/MR), healthcare, automotive, and others. Among these, AR/VR/MR segment is projected to grow considerably between 2021-2027, due to rising consumer access to AR and VR devices.
 

Regionally speaking, Middle East & Africa industry is projected to expand rapidly between 2021-2027, owing to growth of consumer electronics sector. Increasing household income of populace has resulted in rising adoption of electronic devices such as digital cameras, smartphones, and VR/AR devices, which will facilitate industry growth.
 

Key players shaping worldwide camera lens industry trends are Thorlabs Inc., AAC Technologies Holdings Inc., Sigma Corporation, Ability Opto-Electronics Technology Co. Ltd., Tamron Co. Ltd., Canon Inc., Haesung Optics Co. Ltd., Fujifilm Holdings Corporation, Sunny Optical Technology (Group) Company Limited, Genius Electronic Optical Co. Ltd., Sony Corporation, Hoya Corporation, Panasonic Corporation, Largan Precision Co. Ltd., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Sekonix Co. Ltd., Nikon Corporation, Ricoh Co. Ltd., and Olympus Corporation.