According to a research report "Camera
Modules Market with COVID-19 Impact Analysis by Component (Image Sensors,
Lens Modules, Voice Coil Motors), Focus Type, Interface, Pixel, Process,
Application (Consumer Electronics, Automotive), and Region - Global Forecast to
2026" published by MarketsandMarkets™, 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 modules worldwide.
By component, the image sensor
segment is projected to hold the largest share of camera modules market during
the forecast period
The market for the image sensor
segment is expected to grow at the highest CAGR during the forecast period. The
key factors contributing to the growth of the image sensor segment are the
rising demand for small HD camcorders and smartphones, advancements in digital
technology, coupled with rising concerns about security and surveillance among
consumers Key players in the camera modules market are also adopting organic
growth strategies to strengthen their camera modules product portfolio.
By pixel, above 13 MP is projected to
witness the growth at higher CAGR during the forecast period
The above 13 MP is expected to grow
at the highest CAGR during the forecast period. The rising need for better
image quality from end users drives the growth of the camera modules market for
cameras with higher megapixels. Further, the increasing shift to
high-resolution camera modules, especially in machine vision systems is driven
by improved technology and the price decline of these camera components and
modules has fostered the growth of the market.
By focus type, fixed focus is
projected to witness the growth at higher CAGR during the forecast period
The fixed focus segment of the camera
modules market is projected to record the highest CAGR during the forecast
period owing to the earlier trends of cameras in smartphones showing the use of
mainly fixed focus camera modules; as they were a less expensive option and did
not require the use of electronics, moving parts, and electricity. The
automotive and security and surveillance sectors are largely expected to adopt
fixed-focus camera modules. The adoption is likely to continue in night vision
applications and medical microscopes.
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By interfaces, the camera modules
with serial interfaces is projected to hold the largest share of camera modules
market during the forecast period
The camera modules with serial
interfaces segment of the camera modules market is projected to record the
highest CAGR during the forecast period. . In mobile applications, an
application processor uses a camera serial interface (CSI) to provide low-power
and low-cost interfaces to cameras. A few of its benefits are widespread
adoption for its ease of use and the ability to support a broad range of
high-performance applications, including 1080 p, 4 K, 8 K and beyond video, and
high-resolution photography.
By application, the consumer
electronics segment is projected to witness growth at the highest CAGR during
the forecast period
The consumer electronics industry
held the largest size of the camera modules market in 2020 and a similar trend
is likely to be observed during the forecast period. The key factor
contributing to the growth of this segment is the increasing safety concerns
among automobile manufacturers. The adoption of camera modules in advanced
driver assistance systems (ADAS) with the growing trend for autonomous vehicles
provides opportunities for market growth.
By region, APAC to hold the largest
share of the camera modules market throughout the forecast period
In 2020, the camera modules market in
APAC held the largest share and by 2026, it is expected to grow at the highest
CAGR during the forecast period. The market is driven by developments in camera
modules by various APAC-based companies such as LG Innotek, OFILM Group Co.,
Ltd., Sunny Optical Technology (Group) Co., Ltd., Hon Hai Precision Inc. Co.,
Ltd. (Foxconn), Samsung Electro-Mechanics, Q Technology, and Luxvision
Innovation Limited. The increasing population and rising penetration of
smartphones in countries in APAC are expected to further drive the camera
modules market in the near future. The regions several countries governments
are taking initiatives about safety norms in automotive vehicles are creating
demand for camera modules for the automotive sector.
LG Innotek (South Korea), OFILM Group
Co., Ltd. (China), Sunny Optical Technology (Group) Co., Ltd. (China), Hon Hai
Precision Inc. Co., Ltd. (Foxconn) (Taiwan), Samsung Electro-Mechanics (South
Korea), Q Technology (China), ams AG (Austria), Chicony Electronics Co., Ltd
(Taiwan), MCNEX Co., Ltd. (South Korea), are some of the key players in the
camera modules market.
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