The global camera modules market size is projected to reach USD 58.5 billion by 2026, growing at a compound annual growth rate (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.
The market for the image
sensors 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.
The market for the above
13 MP segment is expected to grow at the highest 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.
The fixed focus segment
of the camera modules market is projected to record the highest 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.
The market for the
camera modules with serial interfaces segment is expected to grow at the
highest CAGR during the forecast period.
The camera modules with
serial interfaces is expected to grow at 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.
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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.
The consumer electronics
industry end user held the largest share of the camera modules market, and this
trend is expected to continue 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.
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