Press release
Camera Modules Market Poised for 10.4 % Growth, Set to Hit $84.95 Billion by 2029
Camera Modules
The surge in preference for automated and semi-automated vehicles is making a significant impact on the expansion of the camera module market. These types of vehicles, being the pinnacle of current automotive technology, come with an Autonomous Driving System (ADS) that leverages artificial intelligence, onboard cameras, and various software to either fully automate driving or provide support functions like active steering, braking, and acceleration based on the current road and environmental conditions. Camera modules, critical components of automotive camera systems, form an essential part of the ADS, delivering high-definition imaging necessary for processing driving data autonomously. For example, in June 2023, Zipdo, a productivity software company based in Germany, projected that nearly 8 million units of semi or fully autonomous vehicles are set to be sold worldwide by 2026. Hence, the surge in popularity of such vehicles is anticipated to further fuel growth in the camera module market in the imminent years.
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What is the future CAGR of the camera modules market, and how will it impact industry expansion?
The market size for camera modules has witnessed significant growth in the past few years. It is projected to increase from $52.71 billion in 2024 to $57.15 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. This robust growth in the historical period can be attributed to the rise of consumer electronics, integration within the automotive sector, surveillance systems, advances in medical imaging devices, and increasing usage of social media.
The market size of camera modules is predicted to experience a swift expansion in the upcoming years, reaching $84.95 billion in 2029 with a compound annual growth rate (CAGR) of 10.4%. This upward projection during the forecast period can be credited to factors such as the rise of smart home devices, the expansion of telemedicine, environmental monitoring, the trend towards multiple camera setups, and the growing popularity of action cameras and drones. Some significant trends expected during this forecast period include progress in image sensor technology, computational photography, the adaptation of 3D cameras, AR and VR technologies, as well as remote working and virtual collaboration.
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What are the most significant trends transforming the camera modules market today?
Key trends being pursued by businesses in the camera module market revolve around strategic partnerships and collaborations. This strategy is adopted due to the overwhelming number of camera module manufacturers in the market, aiming to broaden their growth into emerging market sectors. For example, in April 2024, US-based tech firm Apple Inc. entered into partnerships with India-based Murugappa Group and Titan Company, renowned for manufacturing fashion accessories, to facilitate the assembly and production of sub-components for iPhone camera modules.
Which key market segments comprise the camera modules market and drive its revenue growth?
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 And Tablet PC, Automotive, Defense And Space, Industrial And Security, Consumer Electronics
Subsegments:
1) By CMOS Camera Module: Standard CMOS Camera Modules, High-Speed CMOS Camera Modules, Low-Light CMOS Camera Modules, Multi-Sensor CMOS Camera Modules
2) By CCD Camera Module: Standard CCD Camera Modules, High-Resolution CCD Camera Modules, Scientific-Grade CCD Camera Modules, Color And Monochrome CCD Camera Modules
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What regions are at the forefront of camera modules market expansion?
Asia-Pacific was the largest region in the camera module market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the camera modules market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the camera modules market?
Major companies operating in the camera modules market include Hon Hai Precision Industry Co. Ltd., Pixelplus Co. Ltd., BYD Electronic (International) Company Limited, Panasonic Corporation, 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, Largan Precision Co. Ltd.
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What Is Covered In The Camera Modules Global Market Report?
• Market Size Forecast: Examine the camera modules market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the camera modules market for a structured understanding.
• Key Players Overview: Analyze major players in the camera modules market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the camera modules market.
• Segment Contributions: Evaluate how different segments drive overall growth in the camera modules market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the camera modules market.
• Industry Challenges: Identify potential risks and obstacles affecting the camera modules market.
• Competitive Landscape: Review strategic developments in the camera modules market, including expansions, agreements, and new product launches.
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