The new report by Expert Market Research titled, Global Camera Module Market Share, Size, Report and Forecast 2023-2028’, gives an in-depth analysis global camera module market assessing the market based on component, application and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 34.5 Billion
- Forecast CAGR (2023-2028): 7.8%
- Forecast Market Size (2026): USD 54.1 Billion
Consumer gadgets have seen a rise in demand over the past few years. Easy access to electronic goods via e-commerce websites, shorter replacement cycles, and lower prices are all contributing factors. As a result, the demand for camera modules declined in 2021 because of COVID-19’s spread and the emergence of the disease. Because of this, they saw a decrease in profits. Consequently, the market’s growth trajectory slowed a bit.
Camera Module Industry Definition and Major Segments
A camera module connects an image sensor, lens, and control circuits via a signalling interface like CSI, Ethernet, or just raw low-voltage differential signalling. It includes picture preprocessing, software for operation and control, programming APIs, all required drivers, documentation and occasionally even a support hotline. The study looks at how they are employed in applications including smartphones, laptops, and other industrial, healthcare, and automotive applications.
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The market, based on component, comprises of:
- Image Sensor
- Camera Module Assembly
- VCM Suppliers (AF and OIS)
Based on the application, the market is divided into:
- Consumer Electronics
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Camera Module Market Trends
Several recent corporate alliances between automotive manufacturers, chip producers, and system integrators have formed as the automobile sector continues its transition to the autonomous age. A long-distance driving assistance system, which lowers accidents due to fatigue and neglect from long-distance driving, is being developed by the producers of image sensors and cameras.
By 2026, the camera module market in APAC is estimated to grow at the highest CAGR throughout the forecast period, accounting for the greatest share of the market. In the camera module market, APAC-based businesses are leading the charge. In the near future, the camera module market is expected to be fueled by rising population and smartphone penetration in APAC countries. Demand for camera modules in the automotive industry is increasing as governments in numerous countries in the area take steps to improve safety standards for automobiles.
Key Market Players
The major players in the market are Sony Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., OFILM, Chicony Electronics Co., Ltd, MCNEX Co., Ltd. and among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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