BREAKING NEWS
Camera Module Market Soars to New Heights: Exponential Growth Expected Worldwide until 2030
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The global camera module market is witnessing a remarkable rise in popularity, driven by the increasing adoption of smartphone and automotive applications, as well as advancements in imaging technologies. The demand for high-quality camera modules has been growing exponentially, and this trend is expected to continue until 2030, with forecasted growth rates reaching remarkable proportions.
Market Size and Share Analysis
According to a latest industry report, the global camera module market size was estimated at USD 14.3 billion in 2022 and is expected to reach a value of USD 34.5 billion by the end of 2030, growing at a staggering CAGR of 10.8% from 2023 to 2030. This explosive growth is attributed to the escalating need for high-quality camera modules in various industries, including consumer electronics, automotive, medical devices, and security systems.
Industry Driving Forces
Several key factors are driving the growth of the camera module market worldwide:
- Advances in Imaging Technologies: The development of improved sensors, lenses, and processing technologies is enabling the creation of high-resolution and low-light camera modules with increased dynamic range and color accuracy.
- Artificial Intelligence (AI) and Machine Learning (ML): AI-powered camera modules are gaining traction, offering enhanced features such as automatic face detection, object recognition, and intelligent surveillance.
- Smartphone Cameras: The increasing demand for high-quality camera phone modules is driving the market growth, as consumers seek better image capture capabilities.
- Automotive Camera Applications: The growing adoption of camera systems in the automotive industry, particularly in applications such as ADAS, advanced driver monitoring, and autonomous driving, is further fuelling the market expansion.
Competitive Landscape
The global camera module market is characterized by intense competition, with numerous players vying for market share. Major industry players, such as Samsung Electronics, Sony Corporation, and Omnivision Technologies, have established themselves as prominent forces in the market. New entrants are also emerging, driven by advances in technology and innovative product development.
Regional Analysis
In terms of regional growth, the global camera module market is expected to experience a remarkable surge in demand from Asia Pacific (APAC), driven by China’s rapid growth in the electronics sector. The North American region will also remain a significant contributor to the market’s growth, owing to the increasing adoption of AI and machine learning technologies.
Innovation and Future Outlook
To sustain the market’s growth momentum, key industry players are focusing on innovation and diversification. The development of specialized camera modules, such as 3D imaging sensors and thermal imaging cameras, will offer lucrative opportunities for market participants.
Stay ahead of the curve by accessing the latest insights and market trends on the global camera module market. Contact our analysts to learn more about the industry and uncover valuable opportunities for growth.
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The ~global camera module market~ is anticipated to grow at a significant CAGR of 10.8% during the forecast period. Digital technology is growing very fast which is propelling the demand for camera modules globally. With the increasing demand for high-resolution smartphones, the companies are providing high-quality cameras to fulfill the demand of consumers. For instance, in September 2021, LG Innotek in collaboration with the magnet company SGI Co. launched an eco-magnet. When this eco magnet is applied to a high-pixel smartphone camera, it produces clear photos and videos by increasing the driving force of the actuator.
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During theCOVID-19 pandemic the demand for camera modules were greatly reduced. The disruption in the production process of end-user products such as consumer electronics led to a decline in the camera module market. However, some of the manufacturers were focusing on innovations related to the COVID-19 pandemic. For instance, in March 2020 Athena Security launched a security camera that uses thermal imagining tech to detect the people who are affected by the COVID-19 pandemic.
full report of Camera Module Market available @ https://www.omrglobal.com/industry-reports/camera-module-market
· Market Coverage
· Market number available for – 2024-2031
· Base year- 2024
· Forecast period- 2024-2031
· Segment Covered- By Source, By Product Type, By Applications
· Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
· Inc., and others
Global Camera Module Market Report Segment
By Component
- Image Sensor
- Lens
- Camera Module Assembly
By Process
- Flip-Chip Camera Module
- Chip-On-Board Camera Module
By Resolution
- Up To 7 Mp
- 8 To 13 Mp
- Above 13 Mp
By Application
- Consumer Electronics
- Healthcare
- Industrial
- Security And Survillance
- Automotive
- Aerospace And Defense
- Others
Global Camera Module Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global camera module market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
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