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Cinema lenses are the most commonly used optical devices in the design of the digital cameras which help photographers to effectively capture images. There is a wide variety of cinema lenses that varies based on the different types of pitches, sensor size, & camera mounts. Cameras with in-built optical lenses of consistent image output are largely essential for photographers for their cinematic projects. Nowadays, filmmakers use 4k quality-based video shooting cameras to shoot high-resolution video content. For instance, in April 2020, Canon USA, Inc. launched EOS C300 MARK III, a next-generation cinema system camera with an 8k capability and 10x Zoom power in their Middle East store.
Cinematic lenses are commonly used in the design of smartphone cameras. Therefore, increasing consumption of the smartphones results in the growth of the market. According to the report ‘Competition Issues in India’s Mobile Handset Industry’, published by the Indian Council for Research on International Economic Relations, smartphone sales in India have increased at a rate of 18.91% from 2012 to 2018. Additionally, growing consumer trends towards wedding photoshoots and videography in festival celebrations result in a higher demand for digital cameras which thereby drive the consumption rate of the cine lenses.
Besides this, the rising presence of prominent companies in the newer geographical regions results in the higher consumption rate of the cinema lenses in these newer markets. For instance, in May 2019, Carl Zeiss AG opened a new cinema lens demo center in Los Angeles to sell the variety of the Zeiss lenses, microscopes, and binoculars products to the museum visitors in the city. Also, the growing film and television industry strongly excel in the demand for digital cinematic cameras.
However, the wide availability of low-cost camera devices is anticipated to limit the market growth of branded products. Also, COVID-19 lockdown restrictions have resulted in a decline in the production rate of the film shooting activities which thereby, temporarily hampered the growth of the market.
Key Market Driver -
Rising demand for smartphones is anticipated to drive the market growth
Key Market Restraint -
Wide availability of low-cost camera devices is anticipated to restrain the market growth.
The prominent companies associated with the global cinema lenses market are, Schneider-Kreuznach, SIGMA Corporation, Canon USA, Inc., Adorama Camera, Inc., ATLAS LENS CO., ANGENIEUX, Cooke Optics Ltd., Fujifilm Holdings Corporation, TH Swiss, Leica Camera AG, Rokinon, VANTAGE, and others.
The global cinema lenses market is segmented based on lens design, application, distribution channel, and geography.
Based on the lens design, the market is segmented into prime lenses and zoom lenses. Zoom lenses segment is expected to hold a major share of the market owing to the higher prices of such lens type compared to the prime lens which results in the higher revenue from such a segment. Additionally, zoom lenses allow users to change the focal length of their camera as per their requirements so that they can capture an effective photograph. This provides ease in the demand of the zoom lens-based cameras.
By Application, the market is segmented into the film industry, households, and others. Zoom lenses-based cameras are considered to be the most premium type of cameras that are used in the film shooting tasks. Therefore, the film industry segment is projected to hold a major share of the global market owing to the large consumption of the zoom lens-based digital cameras to produce films across the globe.
Based on the distribution channel, the market is segmented into offline and online. The offline segment is expected to hold a major share of the market as consumers can see and understand the features in person from the specialty stores or brand stores while purchasing the cine lens.
By geography, the global cinema lenses market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The larger share of the North America region is attributed to the large presence of prominent companies such as Canon USA Inc., Adorama Camera Inc., Tamron Canada, and others in the countries such as the United States, and Canada. Additionally, easy accessibility of the smartphone devices among the population in the region results in the large demand for the cinematic lens-based smartphones in the region. According to the data presented by the International Journal of Environmental Research and Public Health, as of May 2020, over 90% of the U.S. population has access to smartphone devices.
Digital cameras are widely used by tourists for capturing the various photographs of the sceneries. Faster growth of the Asia Pacific region is attributed to the rising consumer spending for the travel & tourism activities and thereby has given rise to the demand for digital cinematic cameras. According to the report ‘International Tourism highlights 2019’, published by the World Tourism Organisation (UNWTO), tourism spending of the Chinese consumer in 2018 reached to USD 2,14,000 million, 5% up as compared to that of 2017.
Additionally, increasing the production rate of digital cameras in countries such as China, and Japan widely supports the growth of the market in the region. According to the data presented by the Camera & Imaging Products Association, the production volume of the camera with the built-in lens has increased from 162,972 in the month of January 2020 to 1,455,999 as of June 2020
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