Market Leadership - Camera Modules Market
The global camera modules market was valued at USD 33.7 billion in 2020 and is estimated to reach USD 58.5 billion by 2026, registering a CAGR of 10.5% during the forecast period. The growth of digital technology has led to tremendous innovations in the automotive industry, which is propelling the demand for camera module solutions worldwide.
The key players operating in the camera modules are LG Innotek (South Korea), OFILM Group Co., Ltd. (China), Sunny Optical Technology (Group) Co., Ltd. (China), Hon Hai Precision Inc. Co., Ltd. (Foxconn) (Taiwan), Samsung Electro-Mechanics (South Korea), Q Technology (China), ams AG (Austria), Chicony Electronics Co., Ltd (Taiwan), MCNEX Co., Ltd. (South Korea), Truly International Holdings Ltd. (China), Cammsys Corp. (South Korea), Primax Electronics (Taiwan), Luxvision Innovation Limited (Taiwan), Shenzhen CM Technology Company Ltd. (China), Jenoptik (Germany), Leopard Imaging Inc. (US), Haesung Optics Co. Ltd. (South Korea), Cowell (China), PARTRON Co., Ltd. (South Korea), Kyocera (Japan), e-con Systems Inc. (US), Syntec Optics (US), NAMUGA Co., Ltd. (Republic of Korea), AAC Technologies (China), and SK Hynix Inc (Korea). These players have adopted various growth strategies, such as product launches, expansions, partnerships, collaborations, contracts, and acquisitions to retain their presence in the camera modules market. Product launches has been the most dominating strategy adopted by the key players from January 2018 to October 2021 to help them strengthen their product portfolio and broaden their customer base.
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LG Innotek, held the leading position in the camera modules market as one of the key providers of camera modules solutions. The company provides camera modules as a part of the Optics Solution business segment. The segment offers ultra-slim and ultra-high-definition cameras and three-dimensional recognition modules for smartphones and tablet personal computers (PC), and cameras for vehicles and the Internet of Things (IoT). The camera module offered by the company features autofocus and image stabilization based on voice coil motor (VCM) technology. The company held ~17%/clip_image002.png){kind=small}
18% share of the camera modules market in 2020. Moreover, LG Innotek has been focusing on the implementation of both organic and inorganic growth strategies in the form of new product launches, and collaborations.
OFILM Group Co., Ltd. held the second position in the camera modules market. It 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. Synopsys, Inc. held ~13%–14% share of the camera modules market in 2020. The company holds a strong position in the camera modules market. Over the years, the company has developed numerous products. Synopsys, Inc. focuses on inorganic growth strategies such as acquisitions, and expansions to sustain its position in the camera modules market.
Sunny Optical Technology (Group) Co., Ltd. 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. In the camera modules market, the group offers cell phone camera modules that include wide FoV modules, AF modules, array cameras, and ultra-high-resolution modules. It has also developed various kinds of surround view, front view, and in-car automotive camera modules and has initiated mass production. Further, it has been strategically implementing inorganic growth strategies in the form of new partnerships to sustain its value in the market.
Hon Hai Precision Inc. Co., Ltd. (Foxconn) is one of the prominent players in the camera modules market and has secured fourth position. It is a technological solution provider that leverages its expertise in software and hardware to integrate its unique manufacturing systems with emerging technologies such as cloud computing, mobile devices, IoT, big data, AI, smart networks, and robotics/automation. The company has been providing camera modules through its subsidiary Sharp Corporation. It manufactures and sells electronic components and consumer electronic products. The company’s focus on new expansions has helped it to consolidate its position in the camera modules market.
Samsung Electro-Mechanics has secured fifth position in the camera modules market. It develops and manufactures electronic and electrical components through three business divisions—Component Solution, Module Solution, and Substrate Solution. The Module Solution business includes products such as camera modules and communication modules. The camera modules offered by the company are used in mobile devices such as smartphones, automobiles, smart home appliances, security solutions, and the Internet of Things (IoT). Samsung Electro-Mechanics has been focusing on the implementation of organic and inorganic growth strategies in the form of product launches and expansions.
Related Reports:
Camera Modules Market with COVID-19 Impact Analysis by Component (Image Sensors, Lens Modules, Voice Coil Motors), Focus Type, Interface, Pixel, Process, Application (Consumer Electronics, Automotive), and Region - Global Forecast to 2026
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