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.
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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.
Key Market Segments Covered
- Low Class (Entry Class) Cinema Lenses
- Medium Class Cinema Lenses
- High-end Class Cinema Lenses
- 2K Cinema Lenses
- 4K Cinema Lenses
- Amateur Cinema Lenses
- Professional Cinema Lenses
- Focal Length
- Wide Angle Cinema Lenses
- Normal Cinema Lenses
- Medium Telephoto Cinema Lenses
- Telephoto Cinema Lenses
- North America
- Latin America
- Asia Pacific
- Middle East & Africa