The global camera modules market to grow from USD 43.3 billion in 2023 to USD 68.5 billion in 2028 at a CAGR of 9.6% during the forecast period. The increasing demand for smartphones and other consumer electronics products with built-in cameras, growing popularity of augmented reality (AR) and virtual reality (VR) applications, which require high-resolution camera modules, increasing use of cameras in automotive applications, such as driver assistance systems and parking assistance systems as well as development of new camera technologies, such as 3D cameras and thermal cameras, which are opening up new applications for camera modules. are the major driving factors for the growth of the camera modules market.
The key players operating in the camera modules are 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. These players have adopted various growth strategies to strengthen their position in the camera modules market. The strategies include product launches, expansions, partnerships, collaborations, and mergers and acquisitions.
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Chicony Electronics is mainly engaged in the development, manufacturing, and trading of computer peripheral and electronic products. The company offers its line of offerings throughs two categories including electrical components and consumer electrical products and other electronic devices. The company’s major product lines include input devices, portable keyboard modules, visual and image products, and camera lens modules. Its products include desktop keyboards, portable computer boards, mouse, and other computer input devices. It also offers camera products such as digital cameras, built-in camera modules for notebook computers, camera modules for mobile phones, and other digital imaging products. The company’s camera module offerings mainly include H.264 wide-angle module, Windows Hello camera module, and global shutter IR camera. The company also has its operations in the US and Japan.
LG Innotek is a leading global materials and components company that operates through four reportable segments—Optics Solution, Substrate & Material, Automotive Components, and Electronic Components. It supplies its product offerings in the fields of mobile, display, semiconductor, automobile, and IoT. A few of the prime product offerings include smartphone camera modules, substrates and photomasks for display, and semiconductor substrates for communication.
The company provides camera modules as a part of the Optics Solution business segment. The segment offers its camera module technology, to a wide range of industries, including smartphones, automotive, surveillance, and IoT devices. Their camera modules feature high-resolution sensors, advanced optics, and innovative imaging technologies. LG Innotek has a global presence with manufacturing facilities and research centers in several countries, including South Korea, China, Vietnam, the United States, and Europe. This global presence allows them to serve customers worldwide.
OFILM Group is one of the advanced high-technology manufacturing and assembly companies. With its expertise in optics, electronics, semiconductor packaging, sensor manufacturing, and display technologies, it designs and manufactures high-performance and cost-effective electronic components for the consumer electronics and automotive markets. The company engages in the optics and photoelectric business and intelligent vehicle business through technologies and solutions such as camera modules, optical lenses, advanced sensors, and intelligent driving. The company utilizes thinnest periscope continuous zoom technology and liquid bionic macro technology for its camera module offerings.
Sunny Optical Technology
Sunny Optical Technology is one of the leading Chinese manufacturers of optical components and products. The group engages in the design, research, development, manufacture, and sales of optical and optical-related products.. The Optical Components business segment manufactures and sells lenses and lens modules. The Optoelectronic Products business segment produces cell phone camera modules and photoelectric vision products. The Instrument Business includes microscopic, analytical, and surveying instruments.
Samsung Electro-Mechanics develops and manufactures electronic and electrical components. The company develops printed circuit boards (PCBs), chip parts, camera modules, and communication modules. The company operates through three business divisions.These divisions includes Component Solution, Module Solution, and Substrate Solution. The company caters to camera module through the Module Solution business . This business category includes products such as camera modules and communication modules. Th e product offerings provided by the company are used in mobile devices such as smartphones, automobiles, smart home appliances, security solutions, and the Internet of Things (IoT). The camera modules feature high-precision and high-performance actuators used for autofocusing and image stabilization. They hold high-precision design technology and mass production technology for lens, actuator, and PCB, which are the core components of the camera module. The company also offers relevant software technology. A few of the company’s subsidiaries include Dongguan Samsung Electro-Mechanics Co., Ltd. (China), Kunshan Samsung Electro-Mechanics Co., Ltd. (China), Samsung Electro-Mechanics Japan Co., Ltd., and Tianjin Samsung Electro-Mechanics Co., Ltd. (China). The company operates in Asia Pacific, the Americas, and Europe.
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
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