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Global Camera Modules Market Poised for Exponential Growth, Predicted to Reach USD 68.5 Billion by 2028, Reports MarketsandMarkets

11-01-2023 08:54 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Global Camera Modules Market Poised for Exponential Growth,

MarketsandMarkets, a leading market research and consulting firm, has published an insightful report forecasting exceptional growth in the global camera modules market. According to the report, the market was valued at USD 43.3 billion in 2023 and is estimated to soar to USD 68.5 billion by 2028, demonstrating a robust compound annual growth rate (CAGR) of 9.6%.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=134910924

Key Segments:

The camera modules market features several key segments, as outlined in the report:

By Component: The market is divided by component into image sensors, lens modules, voice coil motors (VCM), and other components. This segmentation provides insights into the various building blocks of camera modules.

By Pixel Range: Segmentation by pixel range includes camera modules with resolutions categorized as less than 8MP, 8-16MP, 16-32MP, and more than 32MP, reflecting the growing demand for high-resolution imaging.

By Application: The report highlights the application areas of camera modules, including smartphones, automotive cameras, consumer electronics, industrial, healthcare, and other sectors. This delineation underscores the diverse applications of camera modules in various industries.

Growth Drivers:

The camera modules market is poised for remarkable growth, driven by several key factors:
Proliferation of Smartphones: The widespread adoption of smartphones, especially those equipped with multiple camera modules for advanced photography and videography, is a significant driver of market growth.

Automotive Safety and ADAS: The integration of camera modules in vehicles for advanced driver-assistance systems (ADAS) and safety features is fueling the demand for these components in the automotive sector.

Advancements in Imaging Technology: Continuous advancements in imaging technology, such as image stabilization, low-light performance, and AI-driven features, are propelling the market forward.

Challenges:

Despite the promising growth prospects, the camera modules market faces certain challenges:
Intense Competition: The market is highly competitive, with numerous players vying for market share, leading to pricing pressures.

Supply Chain Disruptions: Global supply chain disruptions and semiconductor shortages have the potential to impact the availability of camera module components.

Opportunities:

The market offers compelling opportunities:
Expansion of IoT: The growing adoption of the Internet of Things (IoT) and the integration of camera modules in IoT devices open up new avenues for market expansion.

Emerging Markets: Developing economies represent a substantial growth opportunity as consumer electronics and smartphone adoption continue to rise.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=134910924

Key Players:

The camera modules market features several key players at the forefront of innovation and market leadership. Notable companies in the market, as highlighted in the report, include:

• Sony Corporation
• Samsung Electronics Co., Ltd.
• LG Innotek Co., Ltd.
• Canon Inc.
• Sunny Optical Technology (Group) Company Ltd.
• Largan Precision Co., Ltd.
• Sharp Corporation
• Chicony Electronics Co., Ltd.
• Cowell E Holdings Inc.
• Partron Co., Ltd.

This comprehensive report from MarketsandMarkets provides valuable insights for stakeholders, investors, and decision-makers in the camera modules market, enabling them to make informed strategic decisions.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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