Smartphone Camera Lens Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The smartphone camera lens market is expected to register a CAGR of 8% during the forecast period. The market demand is surging, with stable sales registered by several smartphone manufacturers. However, similar to the historically undulating demand curve with supply chain restrictions, the current market scenario indicates a demand-supply in-equilibrium that delimits the overall growth potential of the market studied.
Key HighlightsThe smartphone camera lens market is moderately competitive. It appears to be mildly concentrated, moving toward the fragmented stage due to the presence of many large and small players in the market. Some of the major market players include Ability Opto-Electronics Technology Co. Ltd., AAC Technologies, Cowell Optics, IM Co. Ltd., and Kantatsu Co. Ltd., among others. These companies keep innovating and entering into strategic partnerships to retain their market share.
April 2022, Coasia Optics announced the provision of a lens module to Samsung for usage on the Galaxy S smartphone series, beginning with the introduced Galaxy S22 series. The lens module would be utilized for the face camera on the Galaxy S smartphone series.
April 2021, with the launch of the P50 Pro, Huawei deployed a 40-megapixel monochrome-only sensor that reduces image noise and enhances detail when used in conjunction with the main 50-megapixel full-color sensor.
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