April 18, 2022 13:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
ALBANY, N.Y., April 18, 2022 (GLOBE NEWSWIRE) -- The demand for next-gen electronics for automotive and consumer devices is a key underpinning for the expansion of lucrative avenues in the camera module market. The growing integration of automated driving assistance systems (ADAS) in modern vehicles has spurred profitable opportunities. The global camera module market is projected to advance at CAGR of 10.4% during 2021–2031, and exceed valuation of US$ 86.63 Bn by 2031.
Smartphone manufacturers are leveraging the advanced camera features such as inclusion of optical 10x zoom folded camera modules. The mass production of camera modules to meet the massive demand in smartphone application will generate sizable revenues during the forecast period, notes the authors of a TMR study on the camera module market. In recent years, camera modules have been used in mission-critical applications in the medical industry.
Semiconductor companies are reaping revenues from the sales of camera modules to meet the demand for integrated camera features in wireless webcams. The size of the camera module market is expected to be enriched by growing awareness of the benefits of 3D camera technology. Businesses in end-use industries such as in healthcare, logistics, and retail are expected to underpin mass production of camera modules. The demand for next-gen 3D visualization has increased rapidly in modern radiology.
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Key Findings of Camera Module Market Study
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Camera Module Market: Key Drivers
Camera Module Market: Regional Growth Dynamics
Asia Pacific is expected to account for a major share of the global camera module market during the forecast period of 2021 – 2031. The presence of several camera module manufacturers has catalyzed profitable avenues. The revenue growth is likely to be increasingly propelled by the rising adoption of camera modules in consumer electronics, assert the TMR analysts in the study on the camera module market. The region has been home to many manufacturing hubs.
In particular, Korea and Japan are witnessing high-volume manufacturing of camera modules, where manufacturers are likely to capitalize on global sales potential.
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Camera Module Market: Key Players
Some of the key players in the camera module market are KYOCERA Corporation, Toshiba Corporation, MCNEX Co., Ltd., Chicony Electronics Co., Ltd., Q Technology, Samsung Electro-Mechanics, and LG Innotek OFILM Group Co., Ltd.
Global Camera Module Market: Segmentation
Camera Module Market, by Sensor Type
Camera Module Market, by Technology
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Camera Module Market, by Sensor Resolution
Camera Module Market, by End-use Industry
Camera Module Market, by Region
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