Global Camera Module Market Report and Forecast 2024-2032

Global Camera Module Market Outlook

The global camera module market attained a value of around USD 43.22 billion in 2023. The market is further expected to grow at a CAGR of nearly 7.8% in the forecast period of 2024-2032 to reach a value of around USD 84.90 billion by 2032.

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China, Japan, and South Korea Lead the Camera Module Manufacturing

Manufacturers of camera modules are concentrated in China, Japan, South Korea, among other countries. The camera module industry has witnessed a spike in the number of manufacturers in the domestic market of China due to the low manufacturing technicalities. However, with increased market competition, the price war has intensified. In the coming years, competition to introduce new and advanced versions with greater resolution and smaller size is expected to raise the entry threshold of the market. As the application and desirability of smart technology penetrates the developing markets, the demand for camera modules is expected to witness a healthy growth. Aerospace, automotive, pharmaceutical, consumer service, and robotics, among other industrial fields, together pose a lucrative market for camera modules globally.

Camera Module: Market Segmentation

Camera module is used to provide pictorial or video inputs to smartphones, automobiles, or smart home appliances, among others. It comprises of a lens, infrared filter, image sensor, digital signal processing, soft board, and PCB. When light passes through the lens, the IR filter eliminates the unnecessary light projected on the sensor and then converts it into a digital signal through an internally integrated digital signal processing (DSP).

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The market, based on component, comprises of:

• Image Sensor
• Lens
• Camera Module Assembly
• VCM Suppliers (AF and OIS)

Based on the application, the market is divided into:

• Mobile
• Consumer Electronics
• Automotive
• Healthcare
• Security
• Industrial
• Others

The regional markets can be classified into:

• North America
• Europe
• Asia-Pacific 
• Latin America
• Middle East and Africa

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Rising Penetration of Smart Technology Offers a Lucrative Growth of the Market for Camera Module

The increased penetration of smartphones, tablets, and smart home appliances and the rising popularity of automated and semi-automated cars, among other developments and innovations in smart technology, are strengthening the demand for camera modules with high resolution and miniaturisation. Its usefulness as a video input device helps complete tasks like ID card identification, facial recognition, and fingerprint collection, among others, which is further projected to aid the market growth. Smart Security monitoring systems are vital in commercial, residential, and industrial spaces and they are witnessing a strong demand. This is giving a further impetus to the market growth for compact camera modules. The extensive use of document scanners in workspaces is also propelling the growth of the camera module market. Additionally, the use of drones in defence sector has substantially increased making it another lucrative market for camera module. Moreover, camera modules help provide 3D animated simulation in real-time, which makes it convenient to visualize and understand the work dynamics of a project conveniently and communicate ideas better, further intensifying its demand in aerospace, automotive, and engineering fields, among others.

Key Industry Players in the Global Camera Module Market

The report presents a detailed analysis of the following key players in the camera module market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Sony Corporation
• Samsung Electronics Co. Ltd.
• LG Electronics Inc.
• OFILM
• Chicony Electronics Co., Ltd
• MCNEX Co., Ltd.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report