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“Increasing trends of multiple camera-based smartphones to drive camera modules market”
The camera modules market size is projected to grow from USD 31.5 billion in 2020 to USD 44.6 billion by 2025, recording a CAGR of 7.2%. Rising public safety and security concerns led to the adoption of surveillance cameras, technological advancements in components of camera modules for its integration in devices, and rising demand for ToF cameras in smartphones are driving the growth of the camera modules industry. However, constraints such as high cost of multi-camera systems deployment in vehicles may hinder the market growth.
“Consumer electronics to be largest market for camera modules throughout forecast period”
Consumer electronics is one of the highly competitive industries which observes rapid technological advancements due to continuous change in consumer demands. Smartphones derive significantly higher market for camera modules in consumer electronics applications due to the increasing trend of multiple camera smartphones. To improve functionality and quality of images produced by smartphones and rising trends of front cameras, OEMs are shifting from single rear cameras to dual, triple, and quad-camera designs, resulting in increasing adoption of an average number of camera modules per smartphone. For instance, in September 2019, Apple launched a new range of iPhones, including iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max. iPhone 11 features dual camera, each having 12 MP resolution while iPhone 11 Pro and iPhone Pro Max feature triple cameras, each with 12 MP resolution. Other leading smartphone OEMs such as Samsung, Xiaomi, and Huawei are introducing smartphones featuring multiple cameras. Xiaomi is already set to introduce Mi Note 10 in early 2020 with a 108 MP rear camera among 4 other rear cameras. These developments are expected to play an important role in the growth of the camera modules market during the forecast period.
“APAC to record highest growth rate during forecast period”
APAC is likely to be the fastest-growing region for the camera modules market in the coming years. The factors contributing to the significant growth rate of APAC in camera modules market, along with the largest market share, include the presence of leading smartphone manufacturers such as Samsung, Huawei, Oppo, and Xiaomi. Smartphones assist consumer electronics applications to constitute a significant share in the camera modules market. China is a base for several camera modules as well as consumer electronics products manufacturers. Different camera-related smartphone trends in the country are expected to draw new opportunities for the camera modules market. Several factors, such as government mandates based on the autonomy of vehicles in China, will assist camera modules market to propel. Automotive players in Japan are introducing new safety functions using camera modules, which is expected to induce high market growth.
In-depth interviews have been conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the camera modules marketplace.
- By Company Type: Tier 1 = 40%, Tier 2 = 45%, and Tier 3 = 15%
- By Designation: C-Level Executives = 40%, Directors = 30%, and Managers = 30%
- By Region: North America = 25%, APAC = 45%, Europe = 20%, and RoW = 10%
Major players in the camera modules industry include LG Innotek (South Korea), Sunny Optical Technology (Group) Company Ltd. (China), Sharp Corporation (Japan), Samsung Electro-Mechanics (South Korea), OFILM Tech Co., Ltd. (China), ams (Austria), Chicony Electronics Co., Ltd. (Taiwan), MCNEX Co. Ltd. (South Korea), Primax Electronics Ltd. (Taiwan), Q Technology (Group) Company Ltd. (China), CammSys Corp. (South Korea), Cowell (China), e-con Systems (US), Haesung Optics (South Korea), Jenoptik (Germany), Kyocera Corporation (Japan), Leopard Imaging Inc. (US), Luxvisions Innovation Limited (Taiwan), Partron Co., Ltd. (South Korea), Shenzhen CM Technology Company Ltd. (China), and Truly Opto-Electronics Ltd. (China).
The study includes an in-depth competitive analysis of these key players in the camera modules market, with their company profiles, recent developments, and key market strategies.
The report defines, describes, and forecasts the camera modules market based on component, focus type, interface, pixels, application, and geography. It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the camera modules market. It also analyzes competitive developments such as product launches and developments, expansions, acquisitions, and agreements, partnerships, and collaborations carried out by the key players to grow in the market.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this industry with information on the closest approximations of the revenue numbers for the overall camera modules market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.