Global Camera Module Market to Grow at a CAGR of 7.8% During 2024-2032, Aided by the Growing Consumer Demand for Electronic Devices

The global market for camera module is being driven by the growing consumer demand for electronic devices such as smartphones, tablets, and picture storage solutions, among others. The growing adoption of smart devices such as smart home appliances is further supporting product innovations, such as the launch of camera module with high resolution and its miniaturisation. In addition, the surging product demand in the automotive and defence sectors is anticipated to prove beneficial for the market growth. In this regard, the demand for camera module is anticipated to increase with the introduction of improved rearview camera features in automobiles to provide enhanced safety, and the development of advanced unmanned aerial vehicles and drones for conducting security surveillance. Furthermore, the rapid urbanisation, in confluence with the growing purchasing power and improved living standards of consumers is anticipated to further augment the market for camera module in the forecast period.

The growing expenditure by the leading manufacturers on developing improved camera module solutions is anticipated to support the market growth in the coming years. For instance, in June 2019, FUJIFILM Holdings Corporation (OTCMKTS: FUJIY) debuted its new long-range camera module FUJINON SX800 in the surveillance systems market. This camera module leverages a powerful 1/1.8" image sensor, along with a long focal length of 20mm to 800mm and an exceptional image processing technology, ideally suited for aerial surveillance. Meanwhile, in September 2017, Canon U.S.A. announced that its parent company, Canon Inc. (OTCMKTS: CAJFF) is developing a new Multi-Purpose Module Camera, the MM100-WS, by leveraging its exceptional optical and sensor technologies. The Canon MM100-WS Multi-Purpose Camera comes with a compact and highly customisable body that can incorporate various module solutions. Such developments are anticipated to bolster the growth of the global camera module industry in the forecast period.

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Market Breakup by Component, Application, and Region:

• The market is divided, based on component, into image sensor, lens, camera module assembly, and VCM suppliers (AF and OIS).

• Based on application, the market is segregated into mobile, consumer electronics, automotive, healthcare, security, and industrial, among others. 

• Region-wise, the global market for camera module can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for camera module is being driven by the rising demand for consumer electronics.

• The growing consumer disposable incomes and improved living standards are driving the market growth. 

• The rising applications of camera module in the automotive and defence sectors are also adding to the market expansion. 

• The rising investments by the leading market players in the research and development of advanced camera modules are further propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for camera module for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the components, applications, and regions of camera module.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global camera module market are Sony Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., OFILM, Chicony Electronics Co., Ltd, and MCNEX Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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