Compact Camera Module Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3795
Compact Camera Module Market size is predicted to witness high growth over the forecast period with its increasing integration in consumer electronic solutions such as smartphones, tablets, and cameras. Several features responsible for the increased adoption of modules in consumer electronic products include low-illumination photo-taking, low-power module, hand-shaking correction functions, and super speedy autofocusing. The device also provides several functionalities including downsampling features and light sensing capabilities that allow the user to take photos with the help of electronic products, thereby accelerating the compact camera module market growth. Various factors, such as rise in smartphone penetration and increasing modifications in camera quality, will also drive the market.
The increasing adoption of solutions in automotive vehicles for safe & secured driving is predicted to augment the compact camera module market. The integration of devices in automated driving and Advanced Driver Assistance Systems (ADAS) for lane discipline, parking assistance, traffic signal recognition, and self-driving features allows manufacturers to enhance safety driving features of the vehicle. The rear-view camera in automotive vehicles provides a back view that assists the driver to park in a narrow space. Several companies are engaged in integrating these modules into their advanced automated systems, thereby propelling the compact camera module market growth. For instance, in July 2019, Pioneer Systems introduced AI-based ADAS solutions with a connected dual camera drive recorder. Rise in the adoption of the modern camera technology in automotive systems will augment the market growth.
The growing usage of these devices in healthcare solutions for medical diagnosis and inspection, such as endoscopy, ophthalmology, and surgeries, is predicted to drive the compact camera module market growth. The application of compact cameras for endoscopy allows doctors to examine and dialogize patient’s internal organs such as esophagus, stomach, and colon. The camera technology including 1920 x 1080 HD pixels is being widely used for medical assessments, making it easier for doctors and surgeons to have a clear image or video of the organs. The manufacturers in the market are engaged in developing healthcare-specific camera modules that can serve the purpose of different medical treatments. For instance, ScoutCam Ltd. offers micro ScoutCam with image processing algorithm & video recording capability, that is widely being used in healthcare and industrial applications.
Rise in the development of modern image sensors is driving innovations in the compact camera module market. These sensors are used for capturing and converting optical images into an electrical signal. The growing adoption of sensors in digital cameras and imaging solutions to convert light rays into a digital image will drive the market. Some of the features of the components include high image resolution, low light performance & sensitivity, and cost-effectiveness, which are encouraging the adoption of these components for better image quality. CMOS image sensors are witnessing high adoption due to its high-speed frame rate, high resolution, improved noise characteristics, and quantum efficiency. The companies are now shifting toward the development of CMOS sensors due to its increased demand in the compact camera module market. For instance, in June 2019, Canon Inc. announced the launch of new CMOS sensors with high dynamic range and ability to capture images under unfavorable weather conditions.
Increase in the usage of spy cameras for wildlife watching will drive the compact camera module market growth. It allows the users to secretly click photos and take videos of animals without even noticing their presence. These cameras provide a close & clear view with real-time experience of wildlife creatures. Moreover, the usage of waterproof camera modules allows users to take images inside the sea. Several manufacturers are engaged in developing rugged cameras that can be used for these applications, thereby propelling the market growth. For instance, in April 2019, Nikon announced the launch of Coolpix W150 that consists of underwater photography mode, allowing users to take snapshots clearly in water.
The Asia Pacific compact camera module market will grow at a substantial rate over the coming years owing to the strong presence of a large number of consumer electronics manufacturers in the region. This results in the reduction in prices of electronic components, allowing camera manufacturers to easily procure raw materials on low-cost structure. The high availability of raw material suppliers or component providers offers strong bargaining power to the compact camera market players. Moreover, camera manufacturers are partnering with suppliers for continuous delivery of electronic components. For instance, in August 2018, Xiaomi announced its partnership with Holitech Technology to start manufacturing of compact camera modules in India.
The key players operating in the compact camera module market are Chicony Electronics Co., Ltd., LG Innotek, LITE-ON Technology Corporation, OFILM Tech Co., Ltd., Sunny Optical Technology (Group) Company Limited, and Samsung Electro-Mechanics. The companies are investing highly to develop modern solutions to provide portable and high picture quality modules. For instance, in May 2019, Samsung announced the mass-production plans of 5x tele smartphone camera modules for its upcoming new smartphone models.
Compact Camera Module Market, By Component
- Image sensor
- Voice coil motor
- Assembly components
Compact Camera Module Market, by Application
- Consumer electronics
- Security & surveillance
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
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