Smartphones Camera Lenses Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2030)

Based on the Component :

Based on the component, the market is trifurcated into lens, sensor, and actuator. The lens segment accounted for the largest revenue share in the year 2022. The growing trend of photography among consumers is driving the growth of the market. Consumers are increasingly adopting smartphones with high-quality smartphone lenses to capture sharp and detailed images. Camera lenses are essential for capturing a larger field of view for landscape and group photo shoots. Moreover, the ability of smartphone camera lenses to provide bright light and zoom capabilities is accelerating the growth of the market.

The sensor segment is anticipated to witness the fastest CAGR growth during the forecast period. Sensors play a crucial role in smartphone cameras as they capture light for the formation of digital images. Sensors are used to determine the resolution of captured images in the form of pixels. As a result, manufacturers are focusing on producing high MP cameras to capture bright and detailed images. For instance, in April 2023, Xiaomi launched Xiaomi 13 Ultra featuring a quad camera system with 1-inch sensor and an ultra-grade WQHD+ display for excellent color accuracy. Therefore, the increasing demand for high-quality cameras in smartphones is propelling the growth of the market.

Based on the Type :

Based on the type, the market is segregated into less the 5 MP, 6 to 12 MP, 13 to 24 MP, 32 MP, 48 MP, 64 MP, and 108 MP and above. The 48 MP segment accounted for the largest revenue share in the year 2022. The high pixel count of 48 MP camera allows users to capture sharp and detailed images. Moreover, 48 MP camera allows individuals to capture images with live focus feature coupled with a natural blur effect in the background. For instance, in February 2022, Samsung launched Samsung's A-series called Galaxy A03 featuring a 48MP dual rear camera to capture sharp and detailed images. Furthermore, the ability of 48 MP camera to provide advanced zoom capabilities and enhanced performance is driving the growth of the market.

The 108 MP segment is expected to register the fastest CAGR growth during the forecast period. The ability of 108 MP smartphone camera to capture images similar to a DSLR camera is driving the growth of the market. Increasing pixel count in smartphone cameras provides exceptional detail and clarity in capturing images. Consequently, the 1080 MP cameras are well-suited for photography purposes to capture small details and fine textures. Thus, the application of 108 MP smartphone cameras to enhance photography skills is driving the growth of the market.

Based on the Technology :

Based on the technology, the market is segmented into wide-angle, fisheye, telephoto, and others. Wide-angle lens accounted for the largest revenue share of 47.7% in the year 2022. Wide-angle lenses have a shorter focal length compared to standard lenses, allowing for a wider field of view. Wide angle lenses are used in the front camera of smartphones. As a result, the lenses are ideal for day-to day photography activities. For instance, in May 2022, Sony Group Corporation launched new Xperia 1 IV smartphone featuring 24mm wide lens, 16mm ultra-wide lens, and 85-125mm telephoto lens to offer accurate focus, light exposure, and larger field of view for capturing high-quality content. Consequently, the rising trend of capturing selfies due to the increasing number of social media platforms is driving the growth of this segment.

The telephoto segment is projected to witness the fastest CAGR growth during the forecast period. Telephoto lenses have a longer focal length, enabling users to zoom camera for distant objects. Telephoto lenses offer a narrower field of view and are well-suited for capturing distant objects such as wildlife, landscape photography, and others. Moreover, the ability to customize telephoto lenses as they are available in both prime and zoom varieties is propelling the growth of the market.

Based on the Compatibility :

Based on compatibility, the market is segmented into iOS and Android. The Android segment accounted for the largest revenue share in the year 2022. The cost-effectiveness and the ability to capture high-quality images with android smartphones is driving the growth of the market. Manufacturers are focusing on improving the image capturing capabilities of android smartphones. Consequently, android smartphone cameras are equipped with high quality ultra-wide and telephoto lenses to capture detailed images. Moreover, the affordability of android smartphones attract a large number of customers towards this segment, resulting in market growth.

The iOS segment is anticipated to emerge as the fastest-growing segment during the forecast period. iPhones have better lenses and higher-resolution sensors than in comparison to android smartphones for capturing high-quality images. Moreover, iPhones have the capability to capture sharp images with better color accuracy. For instance, in September 2022, Apple Inc. launched iPhone 14 and iPhone 14 Plus with a new dual-camera system featuring 12MP main camera for capturing photos and videos. Furthermore, the better zoom capacity of iPhones in comparison to android smartphones is contributing to the growth of smartphone camera lens market.

Based on the Sales Channel :

Based on the sales channel, the market is bifurcated into online and offline. The offline segment accounted for the largest revenue share in the year 2022 as smartphones with high-quality cameras are available in wide range of stores including specialty stores, electronics stores, and others. Moreover, mobile phone retailers have a separate section of camera accessories to attract a large customer base. Customers exhibit a preference for physical product testing before purchase, particularly for expensive items including smartphone camera lenses. Thus, offline stores provide the opportunity to understand product features and functionality, resulting in the growth of this segment.

The online segment is expected to emerge as the fastest growing segment during the forecast period. The growth of this segment is attributed to the shift in customer behavior of shopping online through e-commerce websites, online marketplaces, and mobile applications. Online sales channel provides an opportunity to the customers to compare prices of different models before purchasing. Furthermore, the facility of home delivery provided by online sales channel is contributing to the growth of smartphone camera lenses market.

Based on the Application :

Based on the application, the market is bifurcated into front-end camera and rear-end camera. The front-end camera accounted for the largest revenue share in the year 2022. Front-end cameras are located on the front side of the smartphone and are well-suited for capturing selfies and attending video calls. Front-facing cameras work by capturing light through a lens and converting it into an electrical signal using a sensor. Moreover, front-end cameras comprise of wide-angle lenses to capture a large view of the scene. Furthermore, front-end cameras are equipped with built-in beauty modes and filters to apply different effects on selfies and videos, thereby producing high-quality content.

The rear-end camera is anticipated to register the fastest CAGR growth during the forecast period. Rear-end camera lenses are located at the back of smartphones to offer high resolution, advanced features, and better image quality in comparison to the front-end cameras. Rear-end camera lenses incorporate Optical Image Stabilization (OIS) to capture sharp and smooth images and videos. Moreover, manufacturers are improving the low-light performance by employing large pixel size and night-mode features to capture images in low-light conditions.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America accounted for the largest revenue share of USD 1,809.92 million in 2022 and is expected to reach USD 3,697.42 million in 2030, registering a CAGR of 9.7%. Additionally, in the region, United States accounted for the largest revenue share of 48.65% in the year 2022. The increasing demand for consumer electronics such as smartphones, tablets, and other personal electronic devices is driving the growth of smartphones camera lenses market. Manufacturers are increasingly incorporating advanced image capturing capabilities into smartphones to enhance user experiences and offer more immersive content. Moreover, the technological advancements in the region are accelerating the growth of the market. Smartphones OEMs are investing heavily in improving the camera performance, image quality, and features to attract a large customer base towards smartphone cameras. Furthermore, the growing trend of photography in the region is accelerating the growth of the regional market.

The Asia-Pacific is anticipated to register the fastest CAGR growth of 10.0% during the forecast period. The growing popularity of social media platforms and selfie culture in Asia-Pacific region is driving the growth of the market. The active engagement of consumers in social media platforms is driving the demand for smartphones with advanced camera capabilities to capture high-quality selfies. Moreover, key players in the region are engaging in research & development activities for the production of high-performance camera lenses in the region. For instance, in March 2021, OnePlus collaborated with Hasselblad for three-years to develop the next generation of smartphone camera systems for OnePlus smartphone devices. Therefore, the presence of a large number of manufacturers in the region is propelling the growth of the regional market.