Camera Modules Market Size, Share, Growth Drivers and Regional Analysis, Global Forecast 2024 - 2031

AUSTIN, TEXAS, UNITED STATES, May 30, 2024 /EINPresswire.com/ -- Market Size & Growth Analysis

The SNS Insider report reveals that the Camera Modules Market, valued at USD 43.1 billion in 2023, is poised to reach a staggering USD 90.39 billion by 2031, exhibiting a robust compound annual growth rate (CAGR) of 9.7% throughout the forecast period of 2024-2031.

The insatiable appetite for consumer electronics is a major catalyst for the camera modules market.

Shorter replacement cycles, competitive pricing, e-commerce accessibility, and the emergence of cutting-edge technologies like wearables, augmented reality, and smart homes are driving frequent purchases of devices equipped with camera modules.

Smartphones, the flagship product of the consumer electronics industry, have seen a relentless pursuit of superior camera capabilities. Flagship models from giants like Apple, Samsung, Google, and Huawei continuously push the boundaries of image quality and features. Multi-camera systems, once exclusive to high-end cameras, are now commonplace in smartphones. Leading manufacturers like LG Innotek, OFILM Group Co., Ltd., and Sunny Optical Technology (Group) Co., Ltd. are at the forefront of innovation, introducing groundbreaking technologies to meet the demands of this dynamic market.

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KEY PLAYERS:
- OFILM Group
- Sunny Optical Technology
- Samsung Electro-Mechanics
- Q Technology
- LG Innotek
- Hon Hai Precision
- Luxvision Innovation Limited
- AMS AG
- MCNEX Co
- Cammsys Corp
- Chicony Electronics
- Truly International Holdings
- Primax Electronics

Recent Developments
• In November 2023, Samsung enhances the Camera Assistant module in Good Lock, introducing features like Upscale digital zoom and Distortion Correction for improved image quality.
• In June 2023, LG Innotek announced a significant investment in Vietnam to expand its camera module production line, primarily targeting Apple's iPhone.
• In May 2023, Sharp unveils the Aquos R8 Pro, featuring a 1-inch Leica image sensor and enhanced camera capabilities.
• In April 2023, Samsung Electro-Mechanics unveils a 200-megapixel camera module with advanced image stabilization features, aiming to capture the high-end market.
• In September 2023, MCNEX and Corephotonics collaborated to develop an 8MP DUAL SCANNING CAMERA for improved blind spot detection in autonomous vehicles.

Market Analysis

Image sensor technology is the cornerstone of the camera modules market. Continuous innovations in higher resolution, low-light performance, HDR and WDR, miniaturization, depth sensing, and AI integration are reshaping the capabilities of cameras across industries. These advancements are finding applications in diverse fields, from consumer electronics and healthcare to industrial automation and environmental monitoring.

Security and Surveillance Applications

The rising global concern over security threats has led to a surge in demand for camera modules in surveillance systems. The increasing adoption of IP cameras and IoT-based security solutions is particularly notable in residential and commercial settings. This trend is reinforced by statistics highlighting the prevalence of crime in regions like Northeast England.

KEY MARKET SEGMENTS:

BY Focus type
• Auto Focus
• Fixed Focus

BY COMPONENT
• Image Sensors
• Voice Coil Motors
• Lens Module
• Others

by Component, the image sensors segment is expected to dominate due to advancements in image quality and capabilities, driving demand for higher-resolution cameras.

BY INTERFACE
• Camera Parallel Interface
• Camera Serial Interface

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BY PIXELS
• Up to 7 MP
• 8 to 13 MP
• >13 MP

by Pixel, the above 13 MP segment is projected to witness the highest CAGR, driven by consumer demand for better image quality and the increasing use of high-resolution cameras in machine vision systems.

BY APPLICATION
• Consumer Electronics
• Healthcare
• Security and Surveillance
• Automotive
• Industrial
• Aerospace & Defense

Impact of the Global Disruption

- The Russia-Ukraine war has caused disruptions in the global supply chain, leading to increased raw material and component costs. This has impacted the production and pricing of camera modules. The economic slowdown has resulted in reduced consumer spending and delayed investments in various sectors. This has temporarily slowed down the demand for camera modules in certain applications. However, the long-term growth prospects of the market remain strong due to the continuous technological advancements and increasing adoption of camera modules in emerging sectors like healthcare, security, and automotive.
- For example, the conflict disrupted the supply of neon gas, a critical component in chip manufacturing, leading to production delays and price increases for camera modules.

Asia-Pacific is set to dominate the camera modules market

This is due to the region's robust electronics manufacturing sector, increasing consumer purchasing power, and a surge in smartphone adoption. China, with its massive consumer electronics industry and government initiatives promoting automation, plays a crucial role in driving market growth. The healthcare sector's adoption of digitization and the rising demand for medical devices further contribute to the region's dominance.

Key Takeaways

• The camera modules market is expected to witness substantial growth, driven by the increasing demand for advanced imaging capabilities in consumer electronics and automotive applications.
• Technological advancements in image sensors, particularly in high resolution, low-light performance, and AI integration, are shaping the future of the market.
• In December 2022, LG Innotek introduced its first Optical Telephoto Zoom Camera Module, eliminating the need for a protruding camera bump.
• In August 2021, Foxconn expanded its iPhone supply chain involvement by assembling camera components.

Table of Content – Analysis of Key Points

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Camera Modules Market Impact Analysis
Chapter 4.1 COVID-19 Impact Analysis
Chapter 4.2 Impact of Ukraine- Russia war
Chapter 4.3 Impact of ongoing Recession
Chapter 5. Value Chain Analysis
Chapter 6. Porter’s 5 forces model
Chapter 7. PEST Analysis
Chapter 8. Camera Modules Global Market, by Focus Type
Chapter 9. Camera Modules Global Market, by Components
Chapter 10. Camera Modules Global Market, by Interface
Chapter 11. Camera Modules Global Market, by Pixcels
Chapter 12. Camera Modules Global Market, by Application
Chapter 13. Regional Outlook
Chapter 14. Competitive Intelligence
Chapter 15. Key Companies Analysis
Chapter 16. Research Process

Continued…

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