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The dual lens camera smartphone market size is projected to increase by USD 208.8 billion, at a CAGR of 6.36% between 2023 and 2028. The growth rate of the market depends on several factors including the growing popularity of social networking applications, the increasing adoption of mobile AR and the use of CMOS (Complementary Metal Oxide Semiconductor) sensors in camera modules. Dual lens camera smartphones are integrated with dual lens cameras either in the front or the rear. In dual lens cameras, there are two independent cameras, each with its lens and sensor. Dual lens camera smartphones have two cameras: a primary camera and a secondary camera. The primary camera is used to add clarity to an image with the help of a monochrome feature, while the secondary camera is used for zooming purposes. At times, the primary camera is used to take pictures, and the secondary camera is used to capture the depth of field.
The market report includes a comprehensive outlook on the dual lens camera smartphone market offering forecasts for the industry segmented by Distribution Channel, which are offline and online. Additionally, it categorizes Price into premium range, medium range, and low range, and covers Region, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The growing popularity of social networking applications is notable deriving the market growth. The use of dual lens camera smartphones is growing rapidly as a consequence of the proliferation of social media applications, which encourage users to click and share pictures. Influencers on social media applications need not depend anymore on professional photography equipment such as DSLRs. This is one of the reasons contributing to the rapid adoption of dual lens camera smartphones among users. Consequently, this has encouraged smartphone and tablet vendors to integrate high-quality cameras into their devices, which, in turn, is expected to attract customers and result in market growth during the forecast period.
Additionally, the use of social networking apps has increased drastically due to the COVID-19 pandemic, as several people are using video calling to keep in touch with their friends and family. These factors will drive the growth of the global dual lens camera smartphone market during the forecast period.
3D gesture recognition in smartphones is an emerging trend shaping the market growth. Future sales of smartphones with dual lenses could be greatly increased by the incorporation of 3D gesture recognition technology. With the help of this cutting-edge technology, users can interact with their smartphones with unique and simple gestures and hand movements. With 3D gesture recognition emerging as a prominent feature, dual lens camera smartphones become more appealing to customers by improving the overall user experience.
Moreover, customers might be willing to pay more for smartphones with 3D gesture recognition technology because these cutting-edge features make for a more engaging and interactive user experience. In the future, this higher perceived value may result in higher average selling prices, which would support the growth of the dual lens camera smartphone market globally in terms of revenue which will accelerate the growth of the market during the forecast period.
Reduced battery life of dual lens smartphones due to high power consumption is a significant challenge hindering market growth. Dual camera systems require more power to function properly because they have multiple lenses and sophisticated imaging capabilities. The intricate procedures entailed in taking, analyzing, and conserving superior images or videos significantly tax the processor, graphics processing unit, and RAM of the smartphone. Moreover, features like optical zoom, image stabilization, and sophisticated autofocus systems raise the amount of power used by cameras. The need for energy is further increased by the ongoing developments in camera technologies, which include bigger image sensors and higher resolution capabilities.
However, the manufacturers are constantly striving to improve power efficiency and create cutting-edge battery technologies to address these issues, dual lens smartphones' sophisticated camera features continue to have a significant negative impact on the devices' overall battery life. These factors can hinder the growth of the global dual lens camera smartphone market during the forecast period.
The market share growth by the price segment will be significant during the forecast period. For the global dual lens camera smartphone market, offline sales channels are predicted to remain significant between 2023 and 2028 because they give customers a hands-on experience and instant access to products. Dual-camera smartphone displays will be greatly aided by physical retail locations, such as carrier stores, flagship stores, and electronics merchants.
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The offline segment was the largest and was valued at USD 266.30 billion in 2018. Furthermore, authorized resellers such as distributors and dealers of mobile phones will continue to be crucial in expanding the global dual lens camera smartphone market, especially in areas where there may be little direct manufacturer presence. Offline marketing tactics like product launches, promotional events, and in-store demos will raise brand awareness and boost sales. Even though online sales channels are expanding, consumers looking for dual lens camera smartphones will still value the tactile experience and quick availability provided by offline channels. The amalgamation of offline and online tactics could potentially result in omnichannel strategies, offering a smooth and uniform shopping encounter across multiple platforms. These factors will drive the growth moderately of the offline segment of the market during the forecast period.
A premium-range dual lens smartphone is defined as one in which the dual lens camera is priced above USD 400. Premium-range dual lens smartphones are integrated with high-quality, dual lens cameras that offer high-quality images; this is because they include features like optical image stabilization (OIS), larger sensors, bright lenses, and even optical zoom are better for photography. The photographic capabilities of smartphones have become a unique selling proposition (USP) for vendors. Moreover, many premium smartphones now support shooting raw images so that the user can have complete control over image processing. These factors will propel the growth of the premium segment in the market during the forecast period.
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APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing availability of medium-priced smartphones has resulted in high demand for these smartphones in countries such as India, Indonesia, Vietnam, the Philippines, Sri Lanka, and Pakistan. Many Chinese smartphone manufacturers such as Xiaomi, OPPO, and OnePlus by BBK Electronics Corp. Ltd. are making significant profits through the sales of medium-range smartphones. They are also manufacturing dual lens camera smartphones at low costs. These smartphones are integrated with several features, such as dual lens cameras that are usually available in high-end smartphones. Furthermore, the region has observed a rapid upgrade in smartphone cameras from dual to triple and quad cameras, especially in the premium and medium range of smartphones.
Moreover, low-range phones are still offering dual cameras and have a significant opportunity in APAC due to the presence of a large percentage of the low-income/rural population. Therefore, the dual lens camera smartphone market in APAC will witness significant growth during the forecast period.
Dual Lens Camera Smartphone Market forecasts include the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their dual lens camera smartphone market growth and trends strategies.
Global Dual Lens Camera Smartphone Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Acer Inc. - The company offers dual lens camera smartphone such as Acer Holo360, which is an elegantly designed candy-bar-styled 360-degree camera based on the Android 7.1 platform.
Alphabet Inc. - The company offers dual lens camera smartphone such as Pixel 8 and Pixel 8 Pro, under the subsidiary Google.
Apple Inc. - The company offers dual lens camera smartphone such as iPhone 11, which comes in six new gorgeous colors.
The Dual Lens Camera Smartphone Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Dual Lens Camera Smartphone Market market analysis and report of qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The dual lens camera smartphone market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
Dual Lens Camera Smartphone Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2023 |
Historic period |
2018-2022 |
Market forecasting period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.36% |
Market Growth 2024-2028 |
USD 208.8 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.6 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 50% |
Key countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acer Inc., Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., BBK Electronics Corp. Ltd., BlackBerry Ltd., Coolpad Group Ltd., HTC Corp., Huawei Technologies Co. Ltd., Lava International Ltd., Lenovo Group Ltd., LG Electronics Inc., Micromax Informatics Ltd., Nokia Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Shenzhen Transsion Holdings Co. Ltd., Sony Group Corp., TCL Electronics Holdings Ltd., Xiaomi Communications Co. Ltd., and ZTE Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Price
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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