Camera Modules Industry worth $68.5 billion by 2028
The report "Camera Modules Market by Component (Image Sensor, Lens Module, Voice Coil Motor, Filters), Interface (Serial, Parallel), Pixel (>7 MP,8-13 MP, <13 MP), Focus (Autofocus, Fixed), Interface (Serial, Parallel), Process and Region - Global Forecast to 2028" The global camera modules market is expected to be valued at USD 43.3 billion in 2023 and is projected to reach USD 68.5 billion by 2028; it is expected to grow at a CAGR of 9.6% from 2023 to 2028. The increasing demand for consumer electronics applications due to heavy adoption and advancements in smartphones, tablets, and wearables, as well as growing automotive applications due to ADAS and vehicle automation, is driving the growth of the camera modules market.
Browse 165 market data Tables and 63 Figures spread throug 206 Pages and in-depth TOC on "Camera Modules Market by Component (Image Sensor, Lens Module, Voice Coil Motor, Filters), Interface (Serial, Parallel), Pixel (>7 MP,8-13 MP, <13 MP), Focus (Autofocus, Fixed), Interface (Serial, Parallel), Process and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/camera-module-market-134910924.html
Fixed Focus segment is expected to hold a significant share during the forecast period.
Fixed focus modules are less expensive than autofocus, requiring electronics, moving parts, and electricity. As fixed-focus lenses require no user input, they are appropriate for use in cameras meant to be inexpensive or to function without electrical power, such as disposable cameras, low-end 35 mm film point-and-shoot cameras, or cameras with simple operation. They are widely used in CCTV cameras, webcams, surveillance, smartphones, vehicles, electronic toys, IP cameras, and HD analog systems. These features positively impact the demand for fixed-focus cameras in the camera modules market.
The automotive segment is projected to grow at the highest CAGR during the forecast period.
The key factor contributing to the growth of this segment is the increasing safety concerns among automobile manufacturers. The adoption of camera modules in advanced driver assistance systems (ADAS) with the growing trend for autonomous vehicles provides opportunities for market growth. The adoption of advanced camera modules to assist the driver in preventing collisions and provide an enhanced driving experience is set to push market growth.
Asia Pacific will hold the largest share of the camera modules market throughout the forecast period.
Asia Pacific, particularly countries like China, Japan, South Korea, and Taiwan, has established itself as a global manufacturing hub for automotive and electronics. These countries have robust manufacturing infrastructures, advanced technology capabilities, and a vast network of suppliers and manufacturers. The camera modules market in the Asia Pacific region is poised for rapid growth driven by several key factors. Firstly, the region boasts the world’s largest and continuously expanding smartphone market, spurring demand for high-resolution camera modules to meet consumers' photography and videography expectations. Additionally, the thriving automotive industry in Asia Pacific is propelling the need for camera modules used in various applications like driver assistance systems, parking aids, and collision avoidance systems. Furthermore, rising concerns about security have led to a growing demand for security cameras, with camera modules being essential components in CCTV, IP, and body-worn cameras.
Key Players
The camera modules market includes significant Tier I and II players such as LG Innotek, OFILM Group Co., Ltd., Sunny Optical Technology (Group), Hon Hai Precision Inc. Co., Ltd. (Foxconn), Chicony Electronics, Sony, Intel and Samsung Electro-Mechanics and so on are some of the key players in the camera modules market.
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Camera Modules Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
