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Capturing Innovation: Camera Modules Market Poised for Rapid Expansion with Market Size Analysis, Technological Advancements, and Competitive Insights
Camera Modules Market
As per the report, the camera modules market size has grown strongly in recent years. It will grow from $49.07 billion in 2023 to $53.6 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The camera modules market size is expected to see strong growth in the next few years. It will grow to $78.45 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.
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The Surge In Automated And Semi-Automated Cars Propels Growth In The Camera Module Market
The rising popularity of automated and semi-automated cars is significantly contributing to the growth of the camera module market. Automated and semi-automated cars are the most advanced cars, having an autonomous driving system (ADS) which uses artificial intelligence, integrated cameras, and other software to perform all driving tasks on behalf of drivers or provide certain driving assistance like active steering, breaking, and acceleration based on roads and other environmental conditions. Camera modules are highly used in automotive camera systems, which are an integrated part of the Autonomous Driving System (ADS) to provide high-definition imaging to process data for driving cars autonomously. For instance, in June 2023, according to the Zipdo, a Germany-based meeting management and productivity software, around 8 million units of semi-autonomous or fully autonomous vehicles are expected to be sold globally by 2026. Therefore, the rise in popularity of automated and semi-automated cars is expected to propel the growth of the camera module market over the coming years.
Strategic Partnerships And Collaborations In The Camera Module Market
Strategic partnerships and collaborations are the key trends being followed by the companies operating in the camera module market. This is due to the presence of a large number of camera module manufacturing companies operating in the market and their desire to extend their growth into new areas of the market. For instance, in March 2021, OnePlus, a China-based smartphone manufacturing company, and Hasselblad, a Sweden-based camera manufacturing company, formed a strategic partnership for three years. This partnership will allow OnePlus to strengthen its mobile camera quality by developing next-generation camera systems for its new OnePlus 9 series devices and additionally improving and updating software, color tuning, sensor calibration, and user-friendly camera interface.
The camera modules market covered in this report is segmented -
1) By Product Type: CMOS Camera Module, CCD Camera Module
2) By Component: Image Sensors, Lens Modules, Voice Coil Motors
3) By Focus Type: Interface, Pixel, Process
4) By Applications: Medical, Smartphone & Tablet PC, Automotive, Defense & Space, Industrial & Security, Consumer Electronics
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Major companies operating in the camera modules market report are Hon Hai Precision Industry Co. Ltd., Intel Corporation, Pixelplus Co. Ltd., BYD Electronic (International) Company Limited, Panasonic Corporation, SK Hynix Inc., Toshiba Electronic Devices & Storage Corporation, Fujifilm Corporation, Sharp Corporation, STMicroelectronics N.V., LG Innotek Co. Ltd., Hikvision Digital Technology Co. Ltd., On Semiconductor Corporation, Sony Corporation, Samsung Electro-Mechanics Co. Ltd., LITE-ON Technology Corporation, Sunny Optical Technology (Group) Company Limited, Chicony Electronics Co. Ltd., FICOSA International S.A., Primax Electronics Ltd., OFILM Group Co. Ltd., OmniVision Technologies Inc., Himax Technologies Inc., Cowell Electronics Holdings Inc., Partron Co. Ltd., MCNEX Co. Ltd., Aptina Imaging Corporation, Pixelworks Inc., AMS Technologies AG, TruTag Technologies Inc., Largan Precision Co. Ltd., Canatu Oy
Contents of the report:
1. Executive Summary
2. Camera Modules Market Report Structure
3. Camera Modules Market Trends And Strategies
4. Camera Modules Market - Macro Economic Scenario
5. Camera Modules Market Size And Growth
…..
27. Camera Modules Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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