Market Size of Asia Pacific Smartphone Camera Lens Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Smartphone Camera Lens Market Analysis
The Asia Pacific Smartphone Camera Lens Market is expected to reach a CAGR of 6.00% during the forecast period 2021-2026. 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.
- Looking at some of the last year's best smartphones including the Google Pixel 4, Huawei Mate 30 Pro, and the Apple iPhone 11, it is evident that the trend of mobile photography will continue and prove as a point of differentiation for the vendors in the region and therefore intensify the price competition.
- However, due to the recent shut down of businesses across China owing to the influence of Coronavirus is expected to influence the smartphone camera lens market negatively, as prices of hardware components may increase over time due to no production and exhaustion of stocks maintained by the manufacturers in few months. In the short run the market will suffer due to lower demand and supply chain disruptions but in the long run, the market is expected to witness growth owing to technological advancements in CMOS and others.
- For instance, in Q1 2020, AAG Technologies holdings Ltd. revenue and gross profit declined by 5.1% and 27.1% YoY, to RMB 3.56 billion and RMB 823 million, respectively, whereas gross margin narrowed by 7.0 percentage points YoY to 23.1%. this resulted in the net profit decreased by 87.8% YoY to RMB 53 million majorly due to seasonality factors and augmented by the outbreak impact of COVID-19, which significantly affected the operation and production utilization of the Group. Such trends are expected to be noticed more for other vendors for the current year.
APAC Smartphone Camera Lens Industry Segmentation
Smartphone camera lenses play an essential role in determining the capabilities of the camera embedded in a device. Smartphone camera lenses have to be small and light, unlike ordinary cameras that use large-diameter glass lenses. These days, they are using Sapphire crystal to create a different level of depth and aperture. The continuous growth and increasing demand for the smartphone accelerated the need for a high-performance lens that produces high-quality images. The report covers an in-depth country-wise analysis of the smartphone camera lens in the Asia Pacific region.
| By Country | |
| China | |
| Japan | |
| India | |
| South Korea | |
| Rest of Asia-Pacific |
Asia Pacific Smartphone Camera Lens Market Size Summary
The Asia Pacific smartphone camera lens market is experiencing significant growth, driven by the increasing importance of camera features in smartphone purchasing decisions. As smartphones reach maturity, competition intensifies, with camera quality becoming a key differentiator. Technological advancements in lens design, sensor sizes, and connectivity features are fueling demand, particularly among Android and other smartphone brands. Despite challenges such as supply chain disruptions and increased hardware costs due to the COVID-19 pandemic, the market is poised for long-term growth. The trend towards replacing older models with those featuring advanced camera technologies presents opportunities for vendors in the region.
China is a major player in the Asia Pacific smartphone camera lens market, with companies like Huawei, Oppo, Vivo, and Xiaomi driving demand. The region's market is characterized by a mix of high-end and low-end camera solutions, with significant orders for optical lenses from Chinese manufacturers. Key players such as Largan Precision and Sunny Optical Technology dominate the market, leveraging their technological capabilities to maintain a competitive edge. The market is mildly concentrated but moving towards fragmentation, with many players focusing on technical innovation to offer new lens features. Strategic investments in research and development, such as AAC Technologies' agreement in Shenzhen, are expected to further enhance the market's growth prospects.
Asia Pacific Smartphone Camera Lens Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Evolution of Multiple Camera Approaches and Introduction of Advanced Camera Technologies
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1.2 Market Challenges
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1.2.1 Slow Down of Smartphone Sales and Increasing Pricing Competition
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2. MARKET SEGMENTATION
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2.1 By Country
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2.1.1 China
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2.1.2 Japan
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2.1.3 India
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2.1.4 South Korea
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2.1.5 Rest of Asia-Pacific
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Asia Pacific Smartphone Camera Lens Market Size FAQs
What is the current Asia Pacific Smartphone Camera Lens Market size?
The Asia Pacific Smartphone Camera Lens Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Smartphone Camera Lens Market?
AAC Technologies, Largan Precision Company Limited, Sunny Optical Technology Company Limited, Genius Electronic Optical (GSEO) and Kantatsu Co. Ltd are the major companies operating in the Asia Pacific Smartphone Camera Lens Market.
