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[English Market Research Report] Camera Lens Market

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The global market size for camera lenses reached 5 billion USD in 2022. Going forward, the IMARC Group forecasts a growth rate (CAGR) of 5.8% from 2023 to 2028, predicting it will reach 7.1 billion USD by 2028. Camera lenses, also known as photographic lenses, are optical devices that attach to the camera body. They are made up of a series of convex or concave glass plates and enhance photo quality depending on various descriptive elements such as focal length, speed, aperture width, magnification, and angle width. To capture sharp images, camera lenses find a wide range of applications in consumer electronics, automotive, and healthcare industries by allowing sufficient light to pass through.

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[English Market Research Report] Smartphone Camera Lens Market

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The smartphone camera lens market is expected to grow at a CAGR of 8% during the forecast period. Smartphone manufacturers are recording stable sales, and market demand is surging. However, similar to the historically constrained demand curve in the supply chain, the current market scenario shows an imbalance between supply and demand, limiting the overall growth potential of the target market.

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