Camera Module Market Poised to Achieve Significant Growth by 2022 Due to High Demand for Tablets, Smartphones, Digital Cameras & PC Devices | Million Insights

FELTON, California, April 14, 2020 /PRNewswire/ -- Global Camera Module Market is estimated to reach USD 61.78 billion by 2022 owing to the increase in demand for smartphones, tablets, digital cameras and PC devices. A camera module is an image sensor with integrated control electronics, lens and an interface like Camera Serial Interface (CSI), Ethernet or plain raw low-voltage differential signaling. It provides functions for clicking photos with the help of electronic devices like smartphones and tablets. The lens module and image sensors are the main components of a camera module.

The image sensor is an electronic photosensitive device which converts optical image into an electronic signal. It comprises millions of photodiodes and acts as an image receiver in digital imaging device. The worldwide technological proliferation is due to increase in demand for different electronic devices is expected to grow camera module market with a CAGR of 16.2% in the forecast period.

Camera module industry is majorly driven by the increase in demand for consumer electronics followed by the growing market of advanced driver assistance system in automobiles. Advanced driver assistance systems (ADAS) provide safety features like parking assistance, collision avoidance, and lane-departure warning.

Another factor responsible for the growth of camera module market is the machine vision technology which helps in positioning, measurement, identification, verification and in-flaw detection in numerous industries. The growing trend of selfie has propelled the market players to integrate cameras in most consumer electronics. Also, the installation of security cameras in residential and commercial areas is predicted to boost the market in future.

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To improve the camera quality and enable visibility conditions at night, the market players are offering Night Vision cameras. These cameras provide wide-angle view under limited visibility conditions to the user. The latest innovation by a key player, Autoliv offered Night Vision which is embedded with infrared technology and helps to analyze and capture images irrespective of the vehicle's motion. It detects pedestrians accurately as compared to the traditional cameras and headlights. The advent of night vision camera is hence another key factor that impacts the growth of camera module industry positively.

The 3D image sensors for indoor navigation, advancement in image storing and expansion of 4K pixel technology are the upcoming opportunities for the market. The leading market players are innovating new products and using 3D imaging technology for boosting the market significantly.

However, higher cost and heavy maintenance of camera module is predicted to obstruct the growth of the market in the years to come. The leading market players like Apple, Samsung and LG are speedily expanding their smartphone segment since the mobile imaging in these devices is extensively attracting end-users.

Camera module market is categorized on the basis of technology, application, and geography. On the basis of technology, the market is divided into CMOS camera module and CCD camera module. CMOS module camera is predicted to grow significantly in the coming years due to its advantages over CCD camera module like faster frame rate, low power consumption, easy manufacturing, and low price.

Based on application, camera module industry is divided into smartphone, tablet and PC devices, automotive, medical, industrial & security, and defense & space. The demand for consumer electronics like smartphones, tablets and PC devices is growing explosively as compared to other application areas. Geographically, the market is segmented as North America, Europe, Asia Pacific, and RoW. Asia Pacific is predicted to dominate the market owing to the growing population demanding consumer electronics.

The key players in camera module industry are LG Electronics Inc., Cowell e Holdings Inc., Foxconn Electronics Inc., Chicony Electronics Co. Ltd., Sharp Corporation, Lite-On Technology Corporation, Partron Co. Ltd., Sunny Optical Technology (Group) Company Limited, Toshiba Corporation, and Samsung Electro-Mechanics Co. Ltd.

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Market Segment:

• Technology Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2022)
• CMOS
• CCD

• Application Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2022)
• Medical
• Smartphone & tablet PC
• Automotive
• Defense & space
• Industrial & security
• Consumer electronics

• Regional Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2022)
• North America
• Europe
• Asia Pacific
• RoW

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