The Asia Pacific Smartphone Camera Lens Market is expected to reach a CAGR of 6.00% during the forecast period 2020-2025. Smartphone market maturation is creating a high competition environment in which cameras play a central role. With the increasing emphasis on photography and videography features, while making buying decisions, the demand for smartphone camera lenses is expected to grow in the coming years among android and other smartphones. Lenses are evolving technologically to accommodate the needs of video capture, sensors are emerging in new sizes and designs, and Wi-Fi connectivity is being enabled in cameras.
– According to GSMA, the smartphone adoption rate is expected to reach 81% during the forecast period, an increase of 26.5% as compared to 64% during 2019. The growth is moderate but the trend towards replacing the existing models with the ones equipped with the latest technological incorporation is expected to provide growth opportunities to the smartphone camera lens vendors.
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Key Market Trends
Evolution of Multiple Camera Approaches and Introduction of Advanced Camera Technologies
– The cameras in smartphones are improving at a rapid pace and to a point where they might eventually negate the need for stand-alone digital cameras. The increasing demand for a slimmer device has created has caused designers to make use of the larger width and height of phones by adding additional cameras to their designs. Having multiple camera lenses has made an array of new features possible thus increasing the demand for camera lenses.
– The smartphone camera lens market is directly dependent on smartphone sales, as they are the primary applications for the product. Rapidly evolving technology such as image stabilization, faster processors for digital cameras, and a significant increase in storage devices capacity and speed has provided the essential push for the market to evolve.
– Optics remains one of the key direction for smartphone innovations. Upgrade trends for tele-zoom, night mode, ultra-wide-angle, and high image resolution features have set more demanding standards for camera stability, height thickness, and optical resolution.
– For instance, 40MP Huawei P20 Pro was a differentiator in 2018, whereas in 2019, 48MP and 64MP sensors became normal. Xiaomi Mi Note 10, the first 108MP smartphone, was launched in Indian Market in March 2020. Quad-CFA, quad-Bayer, or “pixel-binning” camera sensors is the underlying technology that has made it possible.
China is Expected to Witness Significant Growth
– Among all the regions, China is witnessing a Spurr in demand for smartphones. Huawei, the Chinese tech giant, is reportedly stated to ship approximately 200 million units in 2020 alone. On the other hand, the various other brands like Oppo, Vivo, and Xiaomi are expected to ship a huge number of smartphones. Due to this, a single Chinese brand is expected to order anywhere between 400 to 500 million optical lenses in 2020.
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