Rising demand for camera modules in security and surveillance systems, to drive market growth.
NEWARK, UNITED STATES, April 22, 2022 /EINPresswire.com/ — The global camera module market is expected to grow from USD 32.74 billion in 2020 to USD 86.48 billion by 2030, growing at a CAGR of 10. 2% during the forecast period 2021-2030. The rise of digital technology has brought about significant advancements in the automotive industry, which is driving the demand for camera module solutions worldwide.
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The image sensor market 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 image sensor market is expected to grow at the fastest CAGR of around 11%. Growing demand for compact smartphones and HD camcorders, along with developments in digital technology and consumer concerns for security and surveillance, are driving the boom in the image sensor segment. Organic growth methods are also used by key companies in the Camera Modules market to expand their product portfolio.
The fixed-focus segment of the camera module market is expected to grow at the fastest rate during the forecast period.
The focus type segment is divided into fixed focus, auto focus. Due to previous camera trends in smartphones showing the use of mostly fixed-focus camera modules, which were a cheaper option and did not require the use of moving parts, electronics or electricity, The fixed-focus segment of the camera module market is expected to grow at the fastest rate over the forecast period. Fixed focus camera modules are likely to be widely used in automotive, security and surveillance industries. Medical microscopes and night vision applications are expected to continue using this technology.
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Camera modules with serial interfaces are expected to grow at the fastest CAGR of around 10.5% during the forecast period.
The interface segment is divided into serial camera interface and parallel camera interface. During the forecast period, camera modules with serial interfaces are expected to grow at the fastest CAGR of around 10.5%. A camera serial interface (CSI) is used by an application processor in mobile applications to enable low-cost, 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 high-resolution video and photography, are just a few of its advantages. .
The above 13 MP is expected to grow at the fastest CAGR over 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 the growing need of end consumers for better image quality.
The consumer electronics industry accounted for the largest camera module market value of around 8.51 billion in 2020.
The applications segment is divided into consumer electronics, automotive, health, security and surveillance, industrial, aerospace and defense. The consumer electronics industry accounted for the largest camera module market value of approximately 8.51 billion in 2020. Due to the increasing use of smartphones and tablets around the world, the global market for camera modules are expected to increase significantly in the coming years.
Regional Segmentation Analysis:
The market is analyzed based on five regions, namely North America, Europe, Asia-Pacific, South America, Middle East and Africa. The Asia-Pacific region has emerged as the largest market for the global camera module market with revenue of $11.26 billion in 2020. Various APAC-based companies 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 module market will likely 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 increasing the demand for camera modules in the automotive sector.
Major market players are 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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