Hyderabad, July 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Camera Module Market Report (2023-2028)," the market is estimated at USD 49.46 billion in 2023. It is expected to register a CAGR of 9% during the forecast period.
Camera modules are widely adopted in smartphones, automotive, healthcare, and other applications. Improved network speed and internet technology are driving the growth of the camera modules market. Rising concerns about terrorist attacks and organized crimes are boosting the adoption of IP cameras and IoT-based security systems in households and commercial establishments. Increasing construction activities globally are expected to create more demand for camera modules in real-time monitoring and security applications in the coming years.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 49.46 billion |
| Market Size (2028) | USD 76.10 billion |
| CAGR (2023-2028) | 9% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Advancements in photographic imaging technology. |
| Increasing adoption of self-driving vehicles. |
Who are the Top Companies in the Global Camera Module Market?
The presence of major manufacturers of camera modules is increasing, which is expected to intensify the competition in the market in the coming years.
The significant players in the global camera module market with the majority market share in 2023 are,
- Chicony Electronics Co. Ltd
- Cowell E Holdings Inc.
- Fujifilm Corporation
- LG Innotek Co. Ltd
- LuxVisions Innovation Limited (Lite-On Technology Corporation)
- Primax Electronics Ltd
- Samsung Electro-Mechanics Co. Ltd
- Sharp Corporation
- Sony Group Corporation
- STMicroelectronics NV
- Sunny Optical Technology (Group) Company Limited
- ams OSRM AG
- On Semiconductor (Semiconductor Components Industries LLC)
- OFILM Group Co. Ltd
- OmniVision Technologies Inc.
Other Reports That Might Be of Your Interest:
- IR Camera Market Report - The global IR camera market size is estimated at USD 8.55 billion in 2023. It is expected to reach USD 12.46 billion by 2028, at a CAGR of 7.82% during the forecast period (2023-2028).
- Computational Photography Market Report - The computational photography market size is expected to grow from USD 18.27 billion in 2023 to USD 33.72 billion by 2028, at a CAGR of 13.04% during the forecast period (2023-2028).
Key Highlights from the Global Camera Module Market Report:
Growing Applications in Mobile Phones
- Smartphone manufacturers are focusing on improving camera resolution, leading to the launch of new products with higher megapixels and improved pixel technology.
- Smartphone vendors are developing advanced cameras in their mobile phones, introducing features such as large 1-inch camera sensors to improve image quality and attract consumers. CMOS image sensors are widely used in smartphones due to their lower power consumption, making them suitable for mobile devices.
- The growing sales of smartphones across economies are driving the camera module market. North America and Europe are projected to have high smartphone and internet penetration rates in the coming years.
Opportunities in Asia-Pacific
- The Asia-Pacific region is experiencing significant growth in the compact camera modules market due to the widespread presence of electronics, semiconductors, and automobile manufacturing companies.
- The region's booming consumer electronics manufacturing sector, driven by increasing consumer purchasing power, is contributing to the deployment of compact camera modules in smartphones and smart surveillance systems.
- Many companies are setting up factories in Asia-Pacific (especially in India and China) to meet the growing demand. The healthcare sector in the region is also adopting digitization, leading to increased demand for camera modules.
What are the Latest Developments in the Global Camera Module Market?
- In May 2023, Sharp introduced the Aquos R8 Pro, which features a 1-inch Leica image sensor.
- In April 2023, Samsung Electro-Mechanics announced that it would release a 200-megapixel-class camera module with improved image stabilization features.
Mordor Intelligence has Segmented the Global Camera Module Market Based on Component, Application, and Geography.
- By Component (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Image Sensor
- Lens
- Camera Module Assembly
- VCM Suppliers (AF and OIS)
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Mobile
- Consumer Electronics (Excl. Mobile)
- Automotive
- Healthcare
- Security
- Industrial
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- Rest of the World
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Camera Module Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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