Analysis of Smartphone Lenses market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
With the intensification of digital products, multiple sectors have experienced ground breaking changes. Yet, journalism and digital publishing remain in nascent stage of development. Predominantly, requirement of equipment has been one of the pain points for the field. But, with recent trend of mobile journalism, the traditional outlooks are being tackled.
Smartphone lenses have been one of the factors facilitating the change. Being economic and portable in comparison with traditional equipment, Smartphone lenses are gaining the attention of emerging professionals. Mobile journalism is one of the dominant trends in the media sector, and is expected to experience exponential growth, which in turn will help in the adoption of smartphone lenses by mid-term forecast period.
Mobile internet penetration in Asia-Pacific has seen significant growth in the recent past. Owing to the increase in disposable income of consumers in the region, consumer demand for flagship smartphones has seen a substantial surge after 2016. The photography aficionados and consumers involved in mass media have been seen to invest in additional accessories for smartphones like gimbals, pop sockets, and smartphone lenses, smartphones covers.
Demand for the digital camera has grown multifold in the smartphone sector since 2010. Increase in the number of end-users seeking enhancement of their phone capabilities, combined with a surge in smartphone sales in the Asia-Pacific region is expected to present a high serviceable market for smartphone lenses.
Smartphone lenses remain a novel product for consumers even in developed regions. Therefore historical consumer purchases of smartphone lenses were highly determined by price point. But with an increase in cheap and sub-standard products in the market, consumer purchase patterns for smartphone lenses has seen a significant rise.
Consumer interest in premium quality smartphone lenses has increased in the recent past. This change is noticeable in the United States, where regulations against Chinese products has increased consumer awareness. This aversion of consumers towards cheap products has supplemented sales of domestic and foreign players providing premium quality smartphone lenses.
Similar changes in consumer purchases have been registered in European countries, where foreign smartphone lenses manufacturers have shown an increase in sales through third-party sales channels.
The market for smartphone lenses is highly fragmented, with high concentration of players in East Asia. Affordability of smartphone lenses has been one of unique selling points for players based in East Asia. Asia-Pacific region is estimated to account for more than 40% in terms of smartphone lenses volume.
Some of the market leaders in smartphones lenses market located in East Asia are bitplay Inc, Largan, Kantatsu Co., Ltd., Sekonix and GeniuS Electronic Optical (GSEO), among others. Domestic smartphone lens manufacturers in European and North American regions are concentrating developing their brand image and deliver quality smartphone lenses to compete with players from East Asia.
Despite the pricing of quality products being one of cons for consumer purchases, sales of domestic players has been shown to increase in past half decade. The domestic players in American market are olloclip LLC, Moment Inc. and AUKEY among others.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report on the smartphone lenses provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per the segments of the smartphone lenses. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The research report presents a comprehensive assessment of the smartphone lenses, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to the segments in the Smartphone lenses, such as geography, product type, type, and sales channel.
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The Smartphone Lenses market is predicted to grow at 5% CAGR during the forecast period.
The smartphone lenses market has high growth potential due to consumer preference shifting toward premium smartphone lenses.
In the Asia Pacific region manufacturers may find the most opportunities in the Smartphone Lenses market.
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