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Compact Camera Module Market Trends by 2026 - Global Opportunity Analysis and Industry Forecast

02-05-2020 07:33 AM CET | IT, New Media & Software

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Compact Camera Module

Compact Camera Module

Surge in penetration of smartphones, growth in the consumer electronics industry, and the growing demand for slimmer smartphones with advanced cameras are the factors that are responsible for the growth of the compact camera module market.

According to the report, the market garnered $26.66 billion in 2017 and is likely to garner $57.81 billion by 2024, registering a CAGR of 11.4% during the forecast period, 2018 - 2024.

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Factors such as an increase in smartphone penetration, growth in the consumer electronics industry, and rise in need for slimmer smartphones with advanced cameras drive the growth of the compact camera module market. However, high cost & heavy maintenance of camera restrain the growth of the market. Conversely, rise in the development of advanced driver assistance system (ADAS) ensures emerging growth opportunities for the market.

By components, the report divides the market into the lens, image sensor, voice coil motor, and assembly component. The image sensor segment held the largest market share in 2017.

Among applications, the consumer electronics segment dominated the market in 2017, owing to an increase in the adoption of smartphones. The report also analyzes applications such as automotive, security & surveillance, and others.

Asia-Pacific dominated the global compact camera module market in 2017, owing to the presence of a huge number of manufacturers. Further, China generated a large percentage of regional revenue. The other regions covered for the research study include North America, Europe, and LAMEA (Latin America, Middle East, and Africa).

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The prominent players operating in the global compact camera module market include Semco, LG Innotek, O-Film, Foxconn Sharp, Henkel, Sunny Optical, Menex, Liteon, Cowell, and Q-tech. They have adopted strategies such as innovation, new product development, and market expansion to boost the growth of the market.

Article Source: https://www.alliedmarketresearch.com/compact-camera-module-market

About Us

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. Each and every 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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