ALBANY, N.Y., April 18, 2022 (GLOBE NEWSWIRE) -- The demand for next-gen electronics for automotive and consumer devices is a key underpinning for the expansion of lucrative avenues in the camera module market. The growing integration of automated driving assistance systems (ADAS) in modern vehicles has spurred profitable opportunities. The global camera module market is projected to advance at CAGR of 10.4% during 2021–2031, and exceed valuation of US$ 86.63 Bn by 2031.
Smartphone manufacturers are leveraging the advanced camera features such as inclusion of optical 10x zoom folded camera modules. The mass production of camera modules to meet the massive demand in smartphone application will generate sizable revenues during the forecast period, notes the authors of a TMR study on the camera module market. In recent years, camera modules have been used in mission-critical applications in the medical industry.
Semiconductor companies are reaping revenues from the sales of camera modules to meet the demand for integrated camera features in wireless webcams. The size of the camera module market is expected to be enriched by growing awareness of the benefits of 3D camera technology. Businesses in end-use industries such as in healthcare, logistics, and retail are expected to underpin mass production of camera modules. The demand for next-gen 3D visualization has increased rapidly in modern radiology.
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Key Findings of Camera Module Market Study
- Massive Utilization in Smartphone Application Creates Abundant Lucrative Avenues: In recent years, multiple smartphone manufacturers have begun starting mass-scale production of 10x zoom smartphone camera modules. The use of 3D camera modules and 10x zoom features has risen in consumer electronics, and has augmented the size of the camera module market. The growing commercialization of infrared technology and thermal cameras and 4K pixel and ultra-HD display technology is a case in point.
- Rising Demand in Automotive to Catalyze Revenue Growth: The automotive industry is offering enormous revenue gains to manufacturers of camera modules. Several vehicle manufacturers are keener than before in integrating automotive with next-gen image sensors, propelled by the trend of boosting the safety, convenience, and comfort in driving. A case in point is the demand for automotive imager based on 3D time-of-flight (ToF) technology. Thus, growing R&D in in-cabin 3D sensing camera technology is expected to pave the way to new opportunities in camera module market.
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Camera Module Market: Key Drivers
- Consumers are increasingly demanding advanced image capture and processing technologies in consumer electronics. A case in point is increased commercializing of 3D depth sensing camera. The need has risen in recent years in video conferencing, video recording, and digital storage applications.
- Strides made in automotive electronics and integration of ADAS are driving technology innovations in camera modules, thus propelling the growth of the camera module market
Camera Module Market: Regional Growth Dynamics
Asia Pacific is expected to account for a major share of the global camera module market during the forecast period of 2021 – 2031. The presence of several camera module manufacturers has catalyzed profitable avenues. The revenue growth is likely to be increasingly propelled by the rising adoption of camera modules in consumer electronics, assert the TMR analysts in the study on the camera module market. The region has been home to many manufacturing hubs.
In particular, Korea and Japan are witnessing high-volume manufacturing of camera modules, where manufacturers are likely to capitalize on global sales potential.
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Camera Module Market: Key Players
Some of the key players in the camera module market are KYOCERA Corporation, Toshiba Corporation, MCNEX Co., Ltd., Chicony Electronics Co., Ltd., Q Technology, Samsung Electro-Mechanics, and LG Innotek OFILM Group Co., Ltd.
Global Camera Module Market: Segmentation
Camera Module Market, by Sensor Type
- CMOS
- CCD
Camera Module Market, by Technology
- OIS (Optical Image stabilization)
- AF (Auto Focus)
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Camera Module Market, by Sensor Resolution
- Up to 12 MP
- 13 MP to 20 MP
- 21 MP to 48 MP
- More than 48 MP
Camera Module Market, by End-use Industry
- Consumer electronics
- Automotive
- Medical
- Industrial & Security
- Defense & Space
Camera Module Market, by Region
- North America
- U.S.
- Canada
- Rest of America
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- GCC Countries
- South America
- Brazil
- Rest of South America
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