The camera modules market size is projected to grow from USD 31.5 billion in 2020 to USD 44.6 billion by 2025; it is expected to grow at a CAGR of 7.2%. Increasing trends of multi camera-based smartphones, rising public safety, and security concerns led to adoption of surveillance, and technological advancements in components of camera modules for its integration in devices are some of the driving factors of the industry.
Market for autofocus camera modules to grow at highest CAGR during forecast period
The autofocus camera modules are expected to grow at the highest CAGR during the forecast period. The earlier trends of cameras in smartphones show the use of mainly fixed focus camera modules; however, with advancements in smartphone cameras, autofocus camera modules are gaining pace. Though the market for autofocus camera modules will largely be driven by smartphones and other consumer electronics devices, such as wearables, the automotive sector is expected to adopt fixed-focus camera modules largely.
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Camera serial interface to dominate camera modules market throughout forecast period
Camera modules with the serial interface are widely adopted. In mobile applications, an application processor uses camera serial interface (CSI) to provide low-power and low-cost interfaces to cameras. MIPI CSI-2 is a high-bandwidth interface between cameras and host processors where data is transmitted using differential signals, with a dedicated clock enabling superior performance compared to the parallel interface.
APAC to account largest share of camera modules market during forecast period
APAC has a leading consumer electronics market due to the presence of some of the leading smartphone and other consumer device OEMs such as Samsung (South Korea), Huawei (China), Oppo (China), and Xiaomi (China). Rising trends of advanced cameras in consumer devices; increasing adoption of cameras in automotive applications; and rising needs for security & surveillance cameras are major driving factors for the growth of the market in APAC. China is a base for several camera modules as well as consumer electronics products manufacturers. Different camera-related smartphone trends in the country are expected to draw new opportunities for the market in APAC. A few key players in the camera modules market-based in APAC include LG Innotek (South Korea), Sunny Optical (China), Sharp (Japan), Samsung Electro-Mechanics (South Korea), and OFILM Tech (China).
Key Market Players
LG Innotek (South Korea), Sunny Optical Technology (Group) Company Ltd. (China), Sharp Corporation (Japan), Samsung Electro-Mechanics (South Korea), OFILM Tech Co., Ltd. (China), ams (Austria), Chicony Electronics Co., Ltd. (Taiwan), MCNEX Co. Ltd. (South Korea), Primax Electronics Ltd. (Taiwan), Q Technology (Group) Company Ltd. (China), CAMMSYS Corp. (South Korea), Cowell (China), e-con Systems (US), Haesung Optics (South Korea), Jenoptik (Germany), Kyocera Corporation (Japan), Leopard Imaging Inc. (US), Luxvisions Innovation Limited (Taiwan), Partron Co., Ltd. (South Korea), Shenzhen CM Technology Company Ltd. (China), and Truly Opto-Electronics Ltd. (China) are some major players in the camera modules market.