Dallas, Feb. 21, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global camera modules market is expected to grow from USD 32.74 billion in 2020 to USD 86.48 billion by 2030, at a CAGR of 10.2% during the forecast period 2021-2030.
Image sensors, control electronics, and interfaces such as Ethernet are all integrated into a camera module. Camera modules are electronic devices that use an image sensor to transform an optical signal received through the lens into a digital electrical signal and display the image taken on the display device. It can also be defined as a component that allows a digital device to record video, take still images, and recognise gestures.
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The rise of digital technology has resulted in significant advancements in the automobile industry, which is driving demand for camera module solutions around the world. Technological advancements in modules, components, and architecture, as well as the exponential expansion of the smartphone and tablet PC markets, are predicted to propel the market forward.
Key players operating in the global camera modules market 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. To enhance their market position in the global camera modules market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
• The NanEyeM camera module for single-use medical endoscopy was added to ams AG's NanEye range in July 2021. In the field of digital endoscopic camera modules, the NanEyeM offers a high resolution that fulfils current market standards at the smallest available size.
The lens modules segment led the market in 2020 with a market share of around 35% and a market value of around 11.46 billion.
The component segment is divided into lens modules, image sensors, voice coil motors. The lens modules segment led the market in 2020 with a market share of around 35% and a market value of around 11.46 billion. Lenses are an essential component of any image capture system. Lenses have grown significantly in size, power, length, and even the type of material used in their manufacture because of advancements in photography technology. As a result of advancements in semiconductor technology, lenses were integrated with electronic circuit panels to meet the needs.
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The fixed focus segment of the camera modules market is expected to grow at the fastest rate during the forecast period.
The focus type segment is divided into fixed focus, autofocus. The fixed focus segment of the camera modules market is expected to grow at the fastest rate during the forecast period.
The camera modules with serial interfaces are expected to increase at the fastest CAGR of around 10.5% during the forecast period.
The interface segment is divided into camera serial interface and camera parallel interface. During the forecast period, the camera modules with serial interfaces are expected to increase at the fastest CAGR of around 10.5%.
The above 13 MP is expected to increase at the fastest CAGR during 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 consumer electronics industry accounted for the largest share of the camera module market of around 26% and a market value of around 8.51 billion in 2020.
The application segment is divided into consumer electronics, automotive, healthcare, security and surveillance, industrial, aerospace & defense. The consumer electronics industry accounted for the largest share of the camera module market of around 26% and a market value of around 8.51 billion in 2020. The increasing safety concerns among automotive manufacturers are a major element driving this segment's growth.
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Regional Segment Analysis of the Camera Modules Market
• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia Pacific region emerged as the largest market for the global camera modules market with a market share of around 34.4% and a market value of around 11.26 billion in 2020. Various APAC-based firms 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 modules market is likely to 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 driving up demand for camera modules in the automotive sector.
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About the report:
The global camera modules market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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