PUNE, India, June 27, 2019 /PRNewswire/ -- Rapid digitization in the IT industry is expected to propel growth in the global Interchangeable Lens Market. Fortune Business Insights in a report, titled 'Interchangeable Lens Market: Global Market Analysis, Insights and Forecast, 2019-2026' offers key insights into the market and highlights factors enabling growth. The global market registered a total of 18.2 million shipment units in the year 2018 and is estimated to reach 21.9 million units by 2026. Furthermore, the global market is expected to expand at a CAGR of 2.6% throughout the forecast period. This shows considerable growth in the number of shipments between 2018 and 2026.
Special Lenses are in High Demand – A Key Factor Driving Market
Special lenses are the trendsetters and are likely to influence the imaging industry shift towards smart age. As per lens types, special lenses are high in demand than others. These lenses are manufactured for use in a wide range of cameras to offer different panoramas of the sky, landscapes, crowds, architecture, and interiors. Special lenses such as tilt-shift lens and fisheye lens are estimated to cover a substantial share in the global market in the forecast years.
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In 2018, the zoom lens covered the highest share in the global interchangeable market owing to its rising adoption. These lenses are predominantly adopted by enthusiasts, photographers, and professionals across the world.
Presence of Savvy Players in Asia Pacific Creates Growth Opportunities for the Market
From a geographical standpoint, Asia Pacific witnessed the highest sales of interchangeable lenses in the year 2018. A total of 8.4 million units were sold in that year and it is anticipated to surpass 9 million shipment units by 2026. This spur is ascribable to escalating tourism, rising per capita income, and social media advertising. Another factor driving the market in this region is the increasing penetration of smartphones, especially in emerging countries.
Other regions such as North America and Europe are estimated to grow considerably during the forecast period.
Recent Technological Advancements to Spur the Growth
The rapid growth in digitization is one of the primary factors driving the Interchangeable Lens Market. Considering this, the demand for different types of lens such as prime lens, zoom lens, tilt lens, telephoto lens, fisheye lens among others is expected to increase in the forthcoming years. Moreover, product diversity can reduce the prices of interchangeable lenses, which in turn, is likely to boost the global market. The demand or interchangeable lens camera is increasing as they help in getting high-quality images, offering enough room for photographers to experiment with different interchangeable lenses. A lead analyst at Fortune Business Insights said," Several technological innovations in interchangeable lenses are expected to drive the market in the next few years." These technologies include touch screen devices, higher zoom range, and wireless connectivity are likely to augment demand for interchangeable lens camera. Novel features in interchangeable lenses offer HD recording, which is likely to furnish growth avenues to the market by 2026. Also, mirrorless functionalities are expected to offer a spike in demand for interchangeable lenses.
Diverse Imaging Products of Canon Aids its Expansion Worldwide
Canon Inc., Dorr Danubia, Olympus Corporation, Samyang Optics, Sony Corporation, Zeiss, Schneider Optische Werke GmbH, Tamron, Nikon Corporation, Leica Camera AG, and Rodenstock are some of the leading players functioning in the global Interchangeable Lens Market. Among these, companies such as Nikon, Canon, and Sony covered over 80% of the share in the global market in 2018. These companies are planning to continuously refine its diverse imaging technologies in order to expand in the market.
In 2018, Canon announced that they have successfully maintained their position in the market between 2013 and 2017. The company is planning to launch new interchangeable lens cameras to expand the culture of video imaging and photography.
Key companies covered in the report
- Canon Inc.
- Cosina Co., Ltd
- Dorr Danubia
- Nikon Corporation
- Leica Camera AG
- Olympus Corporation
- Rodenstock GmbH
- Samyang Optics
- Schneider Optische Werke GmbH
- Sigma Corporation of America
- Sony Corporation
Browse Complete Report Details Enabled with Complete Tables and Figures:
Table of Content:
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends of Market
- Key Insights
- Macro and Micro Economic Factors
- Key Technological Trends and Developments
- Adoption Analysis of the Customer for Interchangeable lens, By Lens Type
- Porter's Analysis
- Incremental Opportunity Analysis
- By Focus Length
- By Camera Type
- By Lens Type
- By Region
- Global Interchangeable Lens Market (& Related Cameras) Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Focus Length (US$ Mn Million Units)
- 35mmand Larger than 35mm
- Smaller than 35mm
- Market Sizing Estimations and Forecasts – By Camera Type (US$ Mn)
- Market Sizing Estimations and Forecasts – By Lens Type (US$ Mn and Million Units)
- Zoom Lens (55 – 200mm)
- Prime Lens (35, 50, 85, 135mm)
- Telephoto Lens (100 – 600 mm)
- Special Lenses
- Macro Lens (50-200mm)
- Market Analysis, Insights and Forecast – By Geography (US$ Mn and Mn Users)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- Competitive Landscape
- Company Profile
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