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.
Driver: Increasing end-user demand
for consumer electronics
There has been an increasing demand,
from end users, for consumer electronics in recent years. The shorter
replacement cycles, falling prices of electronic items, easy availability
through e-commerce websites, and new technologies such as wearables, virtual
and augmented reality, 4K televisions, smart homes, 3D printers, autonomous
vehicles, drones, and communication robots encourage frequent purchases of the
same.
In 2020, the COVID-19 pandemic
triggered a significant surge in sales of numerous consumer electronics devices
due to the lack of entertainment options outside of the home, as well as the
transition to working from home., Almost everyone uses or is shopping for a
personal consumer electronic device for home, work, education, and other
purposes, ranging from computers to smartphones.
Camera modules are becoming more
common in electronic devices all around us. Smartphones are increasingly
featuring two, three, and even four camera systems on a single device, allowing
users to access features previously only available through high-end photographic
equipment.
Restraint: Miniaturization of devices
leading to design complexities
The production of image sensors and
camera modules has exploded in recent years due to the rapid expansion of the
consumer electronics and automotive industries. Additionally, the increase in
competition among end users has led to differential designs, the
miniaturization of devices. Top smartphone companies such as Apple and Google
have been making noticeable changes to their cameras through their flagship
products iPhone 13 Pro and Google Pixel. Other smartphone companies have also
been continuously making changes to the cameras to follow the latest trends.
However, a few common issues that may occur during the manufacturing of camera
modules due to miniaturization lead to decreased quality and other design
challenges. A few of the issues include inaccurate focus, loose lens or
inaccurate glue dispensing, lens abnormality, poor contact among components,
defects from the SMT procedure, defects from FPC (flexible printed circuit,)
defective sensor, unmatched sensor and lens, incompatible FOV (field of view)
and the device, defects from SMT or FPC, failure in the lens assembly, and
others.
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Opportunity: Rising innovations and
advancements in image sensors
An image sensor or imager detects and
conveys information used to make an image. It is used in electronic imaging
devices, which include digital cameras, camera modules, camera phones, and
optical mouse devices, among others. The increase in the incorporation of
high-resolution cameras equipped with image sensors in mobile devices, growth
in the adoption of image cameras for automotive applications, and the rise in
the use of image sensors in improved medical imaging solutions are among the
factors driving the adoption of image sensors. A few of the advantages offered
by the sensors such as low cost, low power consumption, high resolution,
operations at high frame rates, and image scenes with a very wide range of
lighting levels have led to their increased use in end-use applications.
Further, emerging image sensor
technologies such as organic photodetectors, SWIR image sensors, event-based
vision, hyperspectral imaging, flexible x-ray detectors, and wave-front imaging
have enhanced the image sensors. A few of the benefits obtained by the usage of
these emerging technologies include decreased cost, increased dynamic range,
improved temporal resolution, spatially variable sensitivity, global shutters
at high resolution, reduced unwanted influence of scattering, and flexibility.
With the increasing demand for the latest features in cameras of smartphones,
the adoption of these technologies is likely to propel the growth of the
market.
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