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Digitization is Driving Global Interchangeable Lens Market at a Moderate CAGR of 2.6%

June 26, 2019 | Information & Technology

The rapid growth in the adoption of digital and mirrorless cameras is driving the global Interchangeable Lens Market. Fortune Business Insights in a new study, titled “Interchangeable Lens Market: Global Market Analysis, Insights and Forecast, 2019-2026” finds that companies are increasingly focusing on designing innovative technologies in interchangeable lens cameras, which is a key factor enabling growth. Moreover, the global market shipped around 18.2 Mn units in the year 2018 and is anticipated to sell 21.9 Mn units by 2026. In addition to this, the global market is anticipated to exhibit a CAGR of 2.6% during the projected horizon.


The interchangeable lenses with a focal length of smaller than 35 mm cover a share of 68.4% in the global market. 35 mm focal length interchangeable lenses are also called normal lenses as they offer a close angle view to the human visualization. The market observes a significant trend with the rising shift from DSLR cameras to mirrorless ones. This will further fuel demand for interchangeable lens cameras in the forthcoming years.


Canon and Other Leading Players Hold 80% of the Global Market


The global interchangeable lens market has a strong presence of savvy players. Some of them include Canon Inc., Olympus Corporation, Dorr Danubia, Samyang Optics, Zeiss, Schneider Optische Werke GmbH, Sony Corporation, Rodenstock, Tamron, Leica Camera AG, and Nikon Corporation. As per the Camera Imaging Products Association or CIPA, companies such as Sony Corporation, Nikon Corporation, and Canon Inc. accounted for 80% of the share in the global market in 2018. These companies, together with Panasonic Corporation, are anticipated to lead the global market during the forecast years. Moreover, these companies are strongly focusing on their core competencies such as imaging technologies to expand and increase their market share.


Innovative Interchangeable Lens Technologies to Offer a Picture Perfect Photography


Zoom lenses offer high-quality images, which is likely to encourage photographers and professionals to invest in them. Furthermore, the demand for telephoto used to capture sports and wildlife events is expected to rise considerably. This type of lens is used to bring distant images and subjects closer than how they look in real. Special lenses enable photographers to capture images of sky and landscapes. In addition to this, these lenses also help to shoot near subjects such as complex architectures, interiors, and crowds. The rising demand for interchangeable lenses is expected to drive the market over the forecast period.


The advent of touch screen technology and a higher zoom range in interchangeable lens cameras are expected to drive the market’s growth. Other new features such as high-quality video recording, wireless connectivity, Bluetooth, GPS and others are stimulating growth in the market. These novel and innovative features are likely to stoke demand for different types in interchangeable lenses such as tilt lens, zoom lens, prime lens, and fisheye lens.


With the introduction of mirrorless cameras, the demand for interchangeable lens mirrorless camera is likely to increase among customers.


Growing Tourism is Driving the Market in Asia Pacific


Among regions, Asia Pacific is expected to grow at a considerable rate in the global interchangeable lens market during the forecast years. Moreover, the region recorded sales of 8.4 million shipments units in the year 2018. Furthermore, the region is projected to have around 9.9 million shipments units of interchangeable lenses by 2026. Factors such as rising tourism, social media advertising, and rising disposable income are boosting the market’s growth. These factors are paving way for photographers to enter into photography and gain recognition. This, in turn, is anticipated to augment demand for interchangeable lenses in the market.


Other regions are also expected to grow at a substantial rate over the next few years.


Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/interchangeable-lens-market-100677


The global interchangeable lens market can be segmented into the following categories:


























 SEGMENTATION



 DETAILS



By Focal Length



·         Equal to 35mm and Larger than 35mm


·         Smaller than 35mm



By Camera Type



·         SLR/DSLR


·         Mirrorless



By Lens Type



·         Zoom Lens


·         Prime Lens


·         Telephoto Lens


·         Special Lens


·         Macro Lens


·         Others



By Geography



·      North America (the USA, Canada and Rest of North America)


·      Europe (UK, Germany, France, Italy, Spain and Rest of Europe)


·      Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)


·      Latin America (Brazil, Mexico and Rest of Latin America)


·      Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)


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