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Camera Module Market Size

Report ID: GMI6896
Published Date: Oct 2023
Report Format: PDF

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Camera Module Market Size

Camera Module Market was valued at over USD 38.2 million in 2022 and is anticipated to grow at a CAGR of over 10.4% between 2023 and 2032. The rising use of IoT-based security & surveillance systems in different sectors is increasing the demand for high-resolution cameras that are equipped with advanced features such as motion detection, wide-angle lenses, high-quality video capturing, and night vision, among others. The demand is fueled by increased security concerns in the residential, commercial, and industrial sectors. IoT integration enables seamless connectivity, enhancing the overall system functionality. According to GSMA report 2023, the global IoT connections increased to over 5.3 billion in 2032 as compared to over 2.5 billion in 2022. The adoption of IoT-based security & surveillance solutions is expected to continue growing, driving the camera module industry.

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The camera module is an autonomous system, which is majorly designed for capturing photos and videos. It is used in smartphones, laptops, tablets, gaming devices, digital cameras, surveillance devices, medical imaging devices, advanced features of automobiles, and other industrial applications. They contain the necessary components, such as a lens and image sensors, to capture and process visual information, making it easy for users to take photos or video chat with friends and family.

Camera Module Market Report Attributes
Report Attribute	Details
Base Year:	2022
Camera Module Market Size in 2022:	USD 38.2 Million
Forecast Period:	2022 to 2032
Forecast Period 2022 to 2032 CAGR:	10.4 %
2032 Value Projection:	USD 1 Billion
Historical Data for:	2018 - 2022
No. of Pages:	200
Tables, Charts & Figures:	315
Segments covered:	Type, Focus Type, Pixel, and Application
Growth Drivers:	IoT-based security and surveillance systems Increased demand for high-resolution cameras Growing use of cameras in vehicle ADAS feature Rising adoption of camera modules in facial recognition systems Integration of AI in cameras for image quality enhancement
Pitfalls & Challenges:	Rising raw material costs Complex camera module manufacturing process

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The camera module market is facing significant challenges due to rising raw material costs. Increased prices for essential components such as image sensors, lenses, and connectors are impacting manufacturing expenses and eroding profit margins for camera module manufacturers. This cost pressure is not only affecting the profitability of existing products but also hindering the development of more advanced and affordable camera technologies.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size for camera module was valued at over USD 38.2 million in 2022 and is anticipated to grow at a CAGR of over 10.4% between 2023 and 2032, owing to the rising use of IoT-based security & surveillance systems in different sectors.

The between 8 to 15 MP segment held a market share of 40% in 2022 and will continue to witness demand due to the increasing use of high-resolution cameras for photography and recording, where image detail and file size are optimal.

Asia Pacific market for camera module held over 35% revenue share in 2022. The region serves as a manufacturing hub for leading smartphone and electronics companies, which along with expanding middle class and increasing consumer purchasing power boost the product demand.

OmniVision, Onsemi, Q Technology, Rayprus Holding Ltd. (Foxconn), Samsung Electro-Mechanics, Sony Corporation, STMicroelectronics N.V., Sunny Optical Technology (Group), and Toshiba Corporation among others.