Full Frame Cinema Lenses Account for Two-third Market Share, Evaluates Fact.MR
Published : 28 Apr 2021 Industry: Consumer Goods
Launch of cutting-edge electronic cameras that use PL mounts has shaped the development of the worldwide market for cinema lenses. Practical, high performing, and smaller cinema lenses are giving a significant push to market expansion. As of now, market players are profoundly focused on dispatching new variations of cinema lenses to acquire an edge across regions.
Market development is driven by sensor innovation, optical symbolism, popularity for elite filmmaking hardware, coming of HDR, and intermittent rollouts of new items. Market players should look to dispatch new products coupled with the mechanical interest and extending uses of cinema lenses. Developing interest for full-outline cinema lenses is projected to assume a basic part in boosting sales of cinema lenses over the coming years.
As per a new report published by Fact.MR, the cinema lenses market is anticipated to surpass US$ 2.8 Bn valuation in 2021, and is poised to expand at a CAGR of around 5% over the next ten years.
Key Takeaways from Market Study
- The cinema lenses market is anticipated to add 1.5X value by 2031.
- Full Frame cinema lenses capture a major chunk, equivalent to two-third of the global market share, and are set to create an absolute $ opportunity of around US$ 470 Mn over 2021-2031
- Among the end uses, the entertainment sector has been the fastest-growing segment, owing to rise of the global film industry over the past decade.
- North America is set to dominate market revenue in 2021.
- The market in Germany, China, and the U.S. is expected to rise at around 5% CAGR each through 2031.
- Due to the COVID-19 crisis, demand for cinema lenses was hit in 2020, which saw a decline of 2% over the 2nd and 3rd quarters of the year.
COVID-19 negatively impacted the film industry by halting film production and temporarily shutting down cinemas. Thus, sales of cinematographic lenses significantly dropped in 2020,”says a Fact.MR analyst.
Some of the key players manufacturing cinema lenses are Adorama Camera, Inc., ARRI AG, Canon Inc., Carl-Zeiss AG, Cooke Optics Ltd., and Fujinon Corporation. Vital players have been spending on research & development to come up with newer sensors with improved lifespan and higher operational flexibility. These enhancements will drive demand and use of cinema lenses in the medium- to long-term forecast period.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global cinema lenses market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (low class, medium class, and high-end class), resolution (2K, 4K, and others), user (amateurs and professionals), and focal length (wide angle, normal, medium telephoto, and telephoto), across five major regions of the world (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
About the Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Consumer Goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the Consumer Goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant - Consumer Products