The Global Zoom Lens Market size is expected to reach $7.1 billion by 2030, rising at a market growth of 7.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 3551.6 thousand Units, experiencing a growth of 6.8% (2019-2022).
Zoom lenses play a crucial role in enhancing the capabilities and flexibility of industrial inspection systems. Consequently, the industrial inspection segment would capture more than 9% share in the market by 2030. The adoption of zoom lenses in industrial inspection and machine vision applications has been significant and continues to increase due to the unique needs of these industries. Zoom lenses allow for adjustable focal lengths, enabling inspection systems to adapt to varying object sizes and distances. This flexibility is valuable in applications where multiple object sizes or working distances need to be accommodated without changing the lens. In industrial inspection, precision is paramount. Zoom lenses can fine-tune the magnification and field of view, allowing for more precise and accurate measurements and inspections.
The major strategies followed by the market participants are Product Launches as the key developmental strategy in order to keep pace with the changing demands of end users. In April, 2023, Canon, Inc. released the RF100-300mm f/2.8L IS USMprofessional telephoto zoom lens for the RF mount. The launched product would provide a solution for wildlife, sports, and photographers who need extra reach while shooting at faster shutter speeds. For instance, In March, 2023, Fujifilm Corporation launched FUJINON HZK25-1000mm with an aim to provide cinematic visual expressions with effects and making it a perfect choice for live coverage of music concerts and sporting events.
Based on the Analysis presented in the KBV Cardinal matrix, Sony Corporation is the major forerunner in the Market. In August, 2023, Sony Electronics a division of Sony Corporation unveiled G-Master FE 16-35mm F2.8 GM II, a 35mm full-frame α E-mount lens, a wide-angle zoom lens. Companies such as Canon, Inc. Fujifilm Holdings Corporation, Carl Zeiss AG are some of the key innovators in the Market.
The rise of vlogging and live streaming has significantly impacted the market within the broader camera and photography industry. Vloggers and live streamers often require versatile lenses that can adapt to various shooting scenarios. Camera and lens manufacturers recognize the importance of meeting the unique needs of content creators in this space, leading to the development of zoom lenses with features tailored to vlogging and live streaming applications. This trend is expected to continue as the popularity of online content creation continues to grow. Therefore, the rise of vlogging and live streaming has created a thriving market for zoom lenses.
The surge in demand for high-quality imagery and videography has fueled interest in zoom lenses offering superior optical quality, versatility, and the ability to capture stunning images and videos across various subjects and shooting conditions. Camera and lens manufacturers continue to develop and market high-quality zoom lenses to meet the growing demands of photographers, videographers, and content creators. The increasing adoption of 4K and higher-resolution video standards necessitates lenses that can resolve detail and sharpness at higher levels, making high-quality zoom lenses more appealing. The surge in demand for high-quality images and videos has significantly impacted on the demand for market in the camera and photography sector.
The high cost of zoom lenses can be a significant barrier for many photographers and consumers. Zoom lenses can be relatively expensive, especially those with premium optical quality, advanced features, and wide focal length ranges. High-quality zoom lenses often come with a premium price tag because they are designed to deliver superior optical performance. High-quality zoom lenses can be costly, which deter some consumers, especially hobbyists and enthusiasts, from investing in additional lenses. Cost-conscious consumers opt for all-in-one zoom lenses or use smartphones instead. Such factors pose a challenge for the market.
By type, the market is categorized into standard, wide-angle, telephoto, and macro. In 2022, the standard segment held the highest revenue share in the market. Standard zoom lenses are a versatile category of camera lenses designed to cover a moderate range of focal lengths, typically including wide-angle to short telephoto focal lengths. Standard zoom lenses are popular among photographers for their flexibility and ability to cover various shooting scenarios. Standard zoom lenses are well-suited for general photography, including family gatherings, vacations, events, and street photography. These zoom lenses are often more affordable than higher-end, fixed-aperture zooms or prime lenses with wide apertures. This affordability makes them a good starting point for photographers building their kit.
Based on application, the market is classified into photography, surveillance, medical imaging, industrial inspection, and astronomy. The medical imaging segment acquired a substantial revenue share in the market in 2022. Medical imaging is a specialized field that often requires unique and highly specialized lenses. While medical imaging primarily relies on dedicated medical imaging equipment and lenses tailored to specific medical applications, some intersections between medical imaging and the broader camera lens market include zoom lenses. Medical imaging equipment typically uses specialized lenses for specific medical applications such as radiography (X-rays), ultrasound, endoscopy, and microscopy.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 3.9 Billion |
| Market size forecast in 2030 | USD 7.1 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 7.8% from 2023 to 2030 |
| Number of Pages | 303 |
| Number of Table | 572 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the highest revenue share. The North American market for zoom lenses caters to both consumers and professionals. Consumers use zoom lenses for photography and videography, while professionals include photographers, videographers, filmmakers, broadcasters, and professionals in industries like surveillance, healthcare, and manufacturing.
Free Valuable Insights: Global Zoom Lens Market size to reach USD 7.1 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carl Zeiss AG, Fujifilm Holdings Corporation, ARRI AG, Sony Corporation, Nikon Corporation, Canon, Inc., Tamron Co., Ltd., Cooke Optics Limited (Caledonia Investments Plc), Kenko Tokina Co., Ltd., Angénieux (Thales Group)
By Application (Volume, Thousand Units, USD Million, 2019-2030)
By Type (Volume, Thousand Units, USD Million, 2019-2030)
By Geography (Volume, Thousand Units, USD Million, 2019-2030)
This Market size is expected to reach $7.1 billion by 2030.
Expansion of live streaming and vlogging are driving the Market in coming years, however, High cost of zoom lens restraints the growth of the Market.
Carl Zeiss AG, Fujifilm Holdings Corporation, ARRI AG, Sony Corporation, Nikon Corporation, Canon, Inc., Tamron Co., Ltd., Cooke Optics Limited (Caledonia Investments Plc), Kenko Tokina Co., Ltd., Angénieux (Thales Group)
In the year 2022, the market attained a volume of 3551.6 thousand Units, experiencing a growth of 6.8% (2019-2022).
The Photography segment is leading the Market, by Application in 2022; thereby, achieving a market value of $3.4 Billion by 2030.
The North America region dominated the Market, by region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.5 Billion by 2030.
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