Camera SOC Market Size to Grow USD 3016.6 Million by 2029 at a CAGR of 8.5% | Valuates Reports
BANGALORE, India, July 11, 2024 /PRNewswire/ -- Camera SOC Market is Segmented by Type (1080P, 2K, 4K, 8K), by Application (Automotive Camera, Action Camera, Panoramic Camera, IP Camera): Global Opportunity Analysis and Industry Forecast, 2023-2029.
Global Camera SOC market is projected to reach USD 3016.6 Million in 2029, increasing from USD 1733 Million in 2022, with a CAGR of 8.5% during the period of 2023 to 2029.
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Major Factors Driving the Growth of Camera SOC Market:
The market for camera System-on-Chip (SoC) is expanding significantly as a result of the growing integration of cameras in a variety of consumer electronics, including as tablets, smartphones, and smart home appliances. Camera SoCs improve speed and save power by combining many functions, including image processing, on a single chip. The need for improved camera SoCs is being driven by the emergence of social media and the rising popularity of high-resolution photography and video recording. The expansion of surveillance cameras in security applications and the automotive industry's embrace of camera-based driver assistance systems are also driving market growth.
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TRENDS INFLUENCING THE GROWTH OF THE CAMERA SOC MARKET:
The market for Camera SoCs is expanding as a result of IP cameras adopting 1080p resolution, which improves picture quality and detail—a critical component for surveillance and security applications. Better identification and monitoring are made possible by the sharper footage produced by high-definition 1080p cameras. Because home and business security systems depend on this enhanced picture quality, there is a growing need for sophisticated Camera SoCs that can handle these kinds of high resolutions. The need for higher-end surveillance capabilities is driving growth in the market for Camera SoCs that support 1080p resolution.
The market for Camera SoCs is expanding due to the emergence of 2K and 4K resolutions, which are raising the bar for picture quality in a number of applications such as consumer electronics, security, and professional video production. These higher resolutions are very desirable for capturing tiny details and enhancing overall visual experiences since they provide noticeably improved image clarity and detail when compared to normal HD. Advanced SoCs with effective data processing and transmission capabilities are required due to the growing popularity of 2K and 4K cameras. The market is growing because of this need, which drives the creation and commercialization of advanced Camera SoCs.
The growth of the Camera SoC market is primarily driven by automotive cameras, which play a crucial role in advanced driver assistance systems (ADAS) and autonomous driving technologies. To interpret real-time video data for applications like lane departure alerts, accident avoidance, and parking assistance, these cameras need high-performance SoCs. The need for strong Camera SoCs is rising as cameras are being integrated into cars more and more to improve safety and allow for autonomous functions. The market for Camera SoCs in automotive applications is growing significantly as the sector prioritizes safety features and keeps innovating.
Any further significant element propelling the growth of the Camera SoC market is the proliferation of security and surveillance systems. The installation of surveillance cameras has increased dramatically as a result of the growing need for reliable security solutions in the public, commercial, and residential domains. For monitoring and security applications, these systems need to provide crisp, dependable footage, which can only be provided by high-quality Camera SoCs. The market for Camera SoC is being driven ahead by the increased emphasis on property security, criminal prevention, and public safety, which is driving up demand for sophisticated surveillance cameras.
The market for Camera SoC is expanding at a substantial rate thanks in part to the proliferation of smart home appliances. The increased customer interest in home automation and security is driving the popularity of smart home security systems, baby monitors, and doorbell cameras. For these devices to provide flawless connection and high-quality video streaming, Camera SoCs must be dependable and effective. Sophisticated Camera SoCs are being developed and used at a faster rate due to the growing need for superior camera technology incorporated into smart home devices.
The market for Camera SoC is expanding as a result of the widespread use of drones for delivery services, photography, videography, and surveillance. Drones need small, light, and powerful camera systems that can record and take excellent pictures. For drones to handle visual data effectively, advanced camera SoCs are necessary. The market is growing as a result of the increasing usage of drones in many sectors and the resulting demand for high-performance Camera SoCs to improve imaging capabilities.
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CAMERA SOC MARKET SHARE:
The camera SoC market is comparatively concentrated worldwide, with the top 5 global firms holding a market share of more than 50%.
From a production standpoint, mainland China, Taiwan, and the United States account for the majority of the world's camera SoC firms, with a combined market share of over 75%.
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Key Companies:
- ISP Co
- Qualcomm Inc
- Ambarella
- Hisilicon
- TI
- NXP
- Ingenic Semiconductor
- SigmaStar
- AllwinnerTechnology
- Novatek
- Rockchip
- Axera Technology
- Shanghai Fullhan Microelectronics
- ASR Microelectronics
- VATICS
- Vimicro Corporation
- Nextchip
- Axis Communications
- FATRI (Xiamen) Technologies
- Shenzhen Grandhan
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