Camera Modules Market Business Outlook 2022 Industry Share, Growth Opportunities, Upcoming Demands and Forecast to 2030
Growing demand for camera modules in security and surveillance systems, to drive the market growth.
NEWARK, UNITED STATES, April 22, 2022 /EINPresswire.com/ — The global camera modules market is expected to grow from USD 32.74 billion in 2020 to USD 86.48 billion by 2030, at a CAGR of 10.2% during the forecast period 2021-2030. The rise of digital technology has resulted in significant advancements in the automobile industry, which is driving demand for camera module solutions around the world.
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The market for image sensors is expected to grow at the fastest CAGR of around 11% during the forecast period.
The component segment is divided into lens modules, image sensors, voice coil motors. During the forecast period, the market for image sensors is expected to grow at the fastest CAGR of around 11%. The increased demand for compact smartphones and HD camcorders, as well as developments in digital technology and consumer worries about security and surveillance, are all contributing to the image sensor segment’s rise. Organic growth methods are also being used by key companies in the camera modules market to expand their product portfolio.
The fixed focus segment of the camera modules market is expected to grow at the fastest rate during the forecast period.
The focus type segment is divided into fixed focus, autofocus. Due to earlier trends of cameras in smartphones showing the use of primarily fixed focus camera modules, which were a less expensive option and did not require the use of moving parts, electronics, or electricity, the fixed focus segment of the camera modules market is expected to grow at the fastest rate during the forecast period. Fixed-focus camera modules are likely to be widely used in the automotive and security and surveillance industries. Medical microscopes and night vision applications are anticipated to continue to use the technology.
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The camera modules with serial interfaces are expected to increase at the fastest CAGR of around 10.5% during the forecast period.
The interface segment is divided into camera serial interface and camera parallel interface. During the forecast period, the camera modules with serial interfaces are expected to increase at the fastest CAGR of around 10.5%. A camera serial interface (CSI) is used by an application processor in mobile apps to enable low-cost and low-power connections to cameras. Its ease of use and ability to serve a wide range of high-performance applications, such as 1080p, 4K, 8K, and beyond video and high-resolution photography, are just a few of its advantages.
The above 13 MP is expected to increase at the fastest CAGR during the forecast period.
The pixel segment is divided into UP TO 7 MP, 8 TO 13 MP and above 13 MP. During the forecast period, the above 13 MP is expected to increase at the fastest CAGR. The market for camera modules with larger megapixels is growing due to end consumers’ increasing need for improved image quality.
The consumer electronics industry accounted for the largest value of the camera module market of around 8.51 billion in 2020.
The application segment is divided into consumer electronics, automotive, healthcare, security and surveillance, industrial, aerospace & defense. The consumer electronics industry accounted for the largest value of the camera module market of around 8.51 billion in 2020. Because of the growing use of smartphones and tablets around the world, the global camera module market is likely to rise significantly in the coming years.
Regional Segmentation Analysis:
The market is analyzed based on five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region emerged as the largest market for the global camera modules market with a 11.26 billion of the market revenue in 2020. Various APAC-based firms such as LG Innotek, Sunny Optical Technology (Group) Co., Ltd., OFILM Group Co., Ltd., Hon Hai Samsung Electro-Mechanics, Precision Inc. Co., Ltd. (Foxconn), Q Technology, and Luxvision Innovation Limited have developed camera modules that are driving the market. Soon, the camera modules market is likely to be driven by expanding population and smartphone penetration in APAC countries. Several governments in the region are taking steps to improve safety standards in automobiles, which is driving up demand for camera modules in the automotive sector.
Competitive Analysis:
The major players of market include ams AG, Cammsys Corp., Chicony Electronics Co., Ltd, Hon Hai Precision Inc. Co., Ltd., LG Innotek, Luxvision Innovation Limited, MCNEX Co., Ltd., OFILM Group Co., Ltd., Primax Electronics, Q Technology, Samsung Electro-Mechanics, Sunny Optical Technology (Group) Co., Ltd. and Truly International Holdings Ltd. among others.
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