The global camera modules market size is expected to reach USD 82.54 billion by 2030, according to a new study by Polaris Market Research. The report “Camera Modules Market Share, Size, Trends, Industry Analysis Report, By Component; By Focus Type (Fixed Focus, Autofocus); By Application; By Pixels (Up to 7 MP, 8 to 13 MP, Above 13 MP); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The proliferation of technology and rising demand for smartphone PC devices are likely to drive growth throughout the predicted period. Such an expansion in demand for high-definition smartphones will likely stimulate the industry for sophisticated CMOS and CCD technology-based devices, benefiting camera module producers. Smartphone manufacturers such as Samsung Corporation produce such components for their handsets, minimizing their reliance on third-party manufacturers for components and elements.
Additionally, during the projection period, the sector growth is boosted by the expanding end-user demand for consumer electronics. Smaller replacement cycles, falling prices for electronics, simple access through e-commerce websites, and new technologies like smartwatches, artificial intelligence, 4K televisions, smart homes, 3D printers, autonomous cars, drones, and communicative robots encourage frequent purchases. Smartphones are increasingly combining two, three, and even four systems into a single unit, giving users access to features formerly reserved for expensive imaging equipment.
Based on the pixels, the 13 MP segment accounted for the leading share in the market in 2021. The growing demand for enhanced image quality facilitates the growth of the modules market for cameras with higher megapixels. Furthermore, the growing move to high-resolution modules, particularly in machine vision systems, is being pushed by technology improvements. The price drop of these components and modules has aided market expansion.
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Market players such as include Cammsys Corp., Ams, Chicony Electronics Co. Ltd, Cowell e Holdings Inc, Samsung Electro-Mechanics Co, Ltd, Foxconn Electronics Inc, LG Innotek, Hon Hai Precision Inc. Co., Ltd., Luxvision Innovation Limited, Omni vision Technologies, OFILM Group Co., Partron Co., Ltd, Primax Electronics, and Sharp Corporation are key players operating in the global market.
In March 2021, LG Innotek cooperated with Microsoft to assist ecosystem participants in developing new designs and to broaden the diverse applications of 3D sensor modules beyond smartphones. The cooperation aims to develop cloud-connected 3D cameras, commercialize 3D sensing devices based on Microsoft ToF technology, and make it simple to build 3D vision solutions for various industries, including fitness, healthcare, transit, and retail.
Polaris market research has segmented the camera modules market report based on component, focus type, application, pixels, and region:
Camera Modules, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Camera Modules, Focus Type Outlook (Revenue - USD Billion, 2018 - 2030)
Camera Modules, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Camera Modules, Pixels Outlook (Revenue - USD Billion, 2018 - 2030)
Camera Modules, Regional Outlook (Revenue - USD Billion, 2018 - 2030)