Splendid Growth of Interchangeable Lens Market 2023 to 2030, Reports Insighs
The Global Interchangeable Lens Market is projected to register a CAGR of 2.04% during 2023-2030, fueled by increased demand for interchangeable lenses for a wide range of applications including media & entertainment, photography, and consumer electronics.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) — The updated new research report Interchangeable Lens Market published by Reports Insights, the market was worth USD 18.77 Billion in 2022 and is anticipated to reach over USD 22.05 Billion by the year 2030, growing at a CAGR of 2.04%.
Interchangeable Lens Market Size, Share & Trends Analysis, By Lens Type (Zoom Lens, Telephoto Lens, Prime lens, Macro Lens, and Special Lens), Camera Lens (SLR, DSLR, and Mirrorless), Focal Length (Less than 35 mm, Equal to 35 mm, and more than 35 mm), Application (Media & Entertainment, Photography, and Consumer Electronics), By Region, Forecast Period 2023 – 2030.
Interchangeable lenses are lenses that are easily removed and replaced from a camera or other optical device. The lenses allow users to customize a camera or a device for different types of photography or optical applications, such as landscape photography, portrait photography, or macro photography. Interchangeable lenses are commonly used in digital single-lens reflex (DSLR) cameras and mirrorless cameras. Also, interchangeable lenses are used in high-end video cameras and other optical devices and are typically attached to the camera body using a mounting system.
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Interchangeable lenses offer a number of benefits over fixed lenses, including greater flexibility and versatility in terms of focal length, aperture, and other settings. The lenses also allow greater creative control over depth of field, bokeh, and other aspects of the image. However, interchangeable lenses are more expensive and complex than fixed lenses and require careful handling and maintenance to ensure optimal performance. For instance, in October 2022, a Japanese company named OM Digital Solutions Corporation launched a new interchangeable lens OM SYSTEM OM-5 with IP531 protection, allowing it to function at -10°C. The lens also supports 4K video for high-quality recording and has versatile computational photography features. Furthermore, the growing interest of people in outdoor activities and traveling across different part of the globe, has led to an increase in demand for interchangeable lenses for compact, durable, and offer high image quality.
Global Interchangeable Lens Market Report Scope:-
|Report Attributes||Report Details|
|Market Size By 2030||USD 22.05 Billion|
|Key Players||Canon Inc., Nikon Corporation, Sigma Corporation, Tamron Co., Ltd., Sony Corporation, Panasonic Corporation, Olympus Corporation, Fujifilm Holdings Corporation, Zeiss AG, Rokinon|
|By Lens Type||Zoom Lens, Telephoto Lens, Prime lens, Macro Lens, and Special Lens|
|By Camera Lens||SLR, DSLR, and Mirrorless|
|By Focal Length||Less than 35 mm, Equal to 35 mm, and more than 35 mm|
|By Application||Media & Entertainment, Photography, and Consumer Electronics|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more.|
|By Geography||North America, Asia-Pacific, Latin America, Europe, and Middle East & Africa|
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Key Market Highlights
- The Global Interchangeable Lens Market size is estimated to exceed USD 22.05 billion by 2030 and grow at a CAGR of 2.04% during the forecast period (2023-2030).
- Globally, Interchangeable Lens are divided based on the lens type into zoom lens, telephoto lens, prime lens, macro lens, and special lens.
- In the context of the camera lens, the market is separated into SLR, DSLR, and Mirrorless
- On the basis of focal length, the market is categorized into less than 35 mm, equal to 35 mm, and more than 35 mm.
- On the basis of application, the market is categorized into media & entertainment, photography, and consumer electronics.
- The market is geographically divided into five regions: Europe, Latin America, the Asia-Pacific, North America, and the Middle East and Africa.
- North America accounted for the largest share contribution to the market growth due to the high adoption of consumer electronics particularly smartphones and action cameras.
Interchangeable Lens Market Segmentation Details:
Based on lens type, the zoom lens has dominated the market by generating maximum revenue in 2022 due to the built-in shake reduction, which allows the consumer to shoot in subdued light without a flash. Zoom lenses are used for a range of focal lengths, typically ranging from wide-angle to telephoto. The versatility makes the lens well-suited for a wide range of photography and videography applications, from landscapes and portraits to sports and wildlife photography. Further, professional photographers prefer zoom lenses as the lenses have wider apertures and are made with higher-quality glass elements that produce premium-quality images.
Based on camera lens, the DSLR holds the largest share of the market due to increased efficiency, proven reliability, compact size, and improved optical performance. Further, DSLR have been around for a long time, there are a variety of accessories available for the lenses, including flash units, battery grips, and other add-ons. This can further enhance the functionality and versatility of the camera. Overall, DSLR interchangeable lenses continue to be a popular choice for photographers who value versatility, reliability, and the ability to customize camera to suit specific needs.
Based on focal length, A 35mm focal length is considered a standard focal length as it is used for a wide variety of photographic applications. The 35 mm focal length lens is wide enough to capture landscapes & group shots and also narrow enough to capture portraits and other subjects. New 35mm lenses are designed with advanced optics and technology that produce high-quality images with minimal distortion, chromatic aberration, and other issues. This makes the 35mm focal length lens a popular choice for photographers who demand high-quality images.
Based on application, the photography segment has been a major contributor to the growth of the interchangeable lens market as photographers are provided with the flexibility to change lenses to suit different shooting scenarios and styles, such as portrait, landscape, macro, and sports photography. Further, high-quality interchangeable lenses produce sharp, detailed images with minimal distortion and aberration. This is especially important for professional photographers who demand the best image quality possible.
Based on region, North America accounted for the largest share contribution to the market growth due to the high adoption of consumer electronics particularly smartphones and action cameras. Further North America has a high per capita income, which results in high spending on camera gear, including interchangeable lenses. Additionally, the region is home to many camera and lens manufacturers, including Canon, Nikon, Sony, and others which also helps in boosting the market growth.
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- In 2022, Sony launched a new line of full-frame mirrorless cameras, which feature improved autofocus performance, higher resolution, and improved image stabilization technology.
- In 2022, Sigma announced the release of its L-mount alliance lenses, which are compatible with cameras from multiple manufacturers, including Panasonic and Leica.
- In 2021, Nikon announced the development of its Z mount system for full-frame mirrorless cameras, which promises sharp and clear image quality and faster autofocus.
List of Major Interchangeable Lens Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- Canon Inc.
- Nikon Corporation
- Sigma Corporation
- Tamron Co., Ltd.
- Sony Corporation
- Panasonic Corporation
- Olympus Corporation
- Fujifilm Holdings Corporation
- Zeiss AG
Global Interchangeable Lens Market Segmentation:
- By Lens Type
- Zoom Lens
- Telephoto Lens
- Prime Lens
- Macro Lens
- Special Lens
- By Camera Lens
- By Focal Length
- Less than 35 mm
- Equal to 35 mm
- More than 35 mm
- By Application
- Media & Entertainment
- Consumer Electronics
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