The global camera modules market size is projected
to grow from USD 31.5 billion in 2020 to USD 44.6 billion by 2025, at a CAGR of
7.2%. Major factors driving the growth of the camera modules industry include
increasing trends of multi camera-based smartphones, rising public safety, and security
concerns led to the adoption of surveillance, technological advancements in
components of camera modules for its integration in devices, and rising demand
for ToF camera in smartphones.
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).
These players have
adopted various growth strategies, such as product launches and developments,
expansions, acquisitions, and agreements, partnerships, and collaborations, to
expand their presence in the camera modules market. Product launches have been
the most dominating strategy adopted by key players from 2017 to 2019, which
helped them strengthen their product portfolio and broaden their customer base.
LG Innotek (South
Korea) secured the first rank in the camera modules market in 2019. It operates
in 4 reportable segments—Optical Solution Business, Substrate and Material
Business, Automotive Component and Electronics Business, and LED Business. The
optical solution business segment offers ultra-slim and ultra-high-definition
cameras and three-dimensional recognition modules for smartphones and tablet
PCs, and cameras for vehicles, and IoT. The camera module offered by the
company features autofocus and image stabilization based on Voice Coil Motor
(VCM) technology. The substrate and material business include High-Density
Interconnection (HDI), semiconductor substrates, tape substrates, and
photomasks that are applied to smartphones, tablet PCs, laptop computers, and
LCD/OLED TVs. The automotive component and electronics business provide motor,
sensor, automobile communication and camera, electronic shelf label, Wi-Fi
modules, and others. The LED business offers LED light, backlight units, and
others. LG Innotek Poland Sp. Z O.o. and LG Innotek Vietnam Haiphong Co., Ltd.
are the subsidiaries of LG Innotek. The company operates in APAC, Europe, and
North America.
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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.
Sunny Optical Technology (Group) Co., Ltd. operates through 3 segments—Optical
Components, Optoelectronic Products, and Optical Instruments. The Optical
Business manufactures and sells lenses and lens module. The Optoelectronic
Business produces cell phone camera modules and photoelectric vision products.
The Instrument Business includes a microscopic, analytical, and surveying
instrument. In the camera modules market, the group offers cell phone camera
modules that include wide FoV module, AF module, array camera, and ultra-high
resolution module. It has also developed various kinds of surround view, front
view, and in-car automotive camera modules and has initiated mass production.
Some of the group’s subsidiaries include Ningbo Sunny Automotive Optech Co.,
Ltd. (China), Xinyang Sunny Optics Co., Ltd. (China), Shanghai Sunny Yangming
Precision Optics Co., Ltd. (China), and Zhejiang Sunny Optical Intelligence
Technology Co., Ltd. (China).
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