Applications of Compact Camera Module In The Consumer Electronics Industry

According to a new report by Allied Market Research, titled, Global Compact Camera Module Market by Component and Application: Global Opportunities Analysis and Industry Forecast, 2018-2024, the global compact camera module market was valued at $26.66 billion in 2017, and is projected to reach at $57.81 billion by 2024, registering a CAGR of 11.4% from 2018 to 2024.

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Compact camera modules find major applications in the consumer electronics industry. The integration of compact camera modules in diverse electrical devices and electronics has gained traction, which has thereby influenced the manufacturers to incline toward holistic applicability of CCM rather than building single-purpose modules. The effective application of CCMs in automotive centric technologies further extends the purview of the applications, thus unlocking several opportunities for the market players.
The growth in ADAS and automated driving is highly opportunistic for the market growth. ADAS utilizes image sensors to provide safety features such as lane-departure warning, parking assistance, and collision avoidance systems. The automated driving and ADAS systems largely benefit from the digital still camera manufacturers and the expertise developed from the mobile camera modules.

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At present, consumer electronics and automotive applications prominently drive the compact camera module market. The consumer requirement for slimmer smartphones transforms the technological advancements in the global market.

Increase in demand for high-end consumer electronics propels the growth of the market. Further, continued product innovation and increase in disposable income impacts the growth of the market.

Key Findings of the Compact Camera Module Market:
• The image sensor sub-segment accounted for the highest share in
2017.

• The consumer electronics sector dominated the market in 2017 owing
to increased adoption in smartphones.

• Asia-Pacific dominated the global compact camera module market in
2017, owing to the presence of huge number of manufacturers. Further,
China accounts for a major percentage of the regional revenue.

The key market players profiled in the report include Semco, LG Innotek, O-Film, Foxconn Sharp, Henkel, Sunny Optical, Menex, Liteon, Cowell, and Q-tech. These players have adopted various strategies, such as new product launch, business expansion, and strategic alliances to sustain their market position in the global compact camera module market.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. The data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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