Camera Modules Market Worth $36.95B by 2020

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According to a new market research report "Camera Modules Market by Component (Image Sensor, Lens Module), Process (Flip-Chip), Pixel, Application (Consumer Electronics, Security & Surveillance, Automotive, Aerospace & Defense, Industrial), and Geography - Global Forecast to 2020", published by MarketsandMarkets, the total Camera Modules Market is expected to reach USD 36.95 Billion by 2020, growing at a CAGR of 10.8% between 2015 and 2020.  

In today's era of technology, the camera modules market is expanding from its traditional digital camera applications into various other applications such as security, automotive, medical, and others. The growth of the camera modules market is mainly driven by the exponential growth in the consumer electronics application, especially the growing demand for devices such as cameras, smartphones, and tablets.

Cameras have become one of the important parameters for mobile device manufacturers as the purchasing decision of end users depends on the type of camera and pixel size of the camera in the mobile phone. Top companies such as Samsung, Apple, and LG are expanding rapidly in the smartphones and tablets market as the mobile imaging in these devices is widely adopted by end users. Moreover, the growing market for advanced driver assistance systems (ADAS) in the automotive sector is boosting the demand for image sensors, and in turn, for camera modules. ADAS make use of image sensors to provide safety features such as parking assistance, lane-departure warning, and collision avoidance systems. Machine vision is also one of the applications where camera modules are increasingly being used for flaw detection, positioning, identification, verification, and measurement of the products in various industries.

However, the heavy maintenance and high cost of camera modules restrain the growth of the camera modules market. The use of 3D motion sensors for indoor navigation and the increasing focus on bringing advancements into the image storage and sensor throughput of camera modules provide opportunities for this market. The major challenge in the camera modules market is the miniaturization of image sensor chips in the development of image sensors of camera modules.

The market for CMOS camera modules is growing rapidly as CMOS sensors offer various advantages over CCD sensors such as low power consumption, faster frame rate, ease of manufacturing, and low cost. Moreover, the advancements in CMOS design such as miniaturization and use of BSI technology make it possible to achieve better performance and quality of images even in low light conditions. In the camera modules market segmented on the basis of process, the flip-chip camera modules hold a significant market share because of their higher speed electrical performance, greater I/O connection flexibility and greater durability.

The global camera modules market is expected to grow from USD 19.21 Billion in 2014 to USD 36.95 Billion by 2020, at a CAGR of 10.8% between 2015 and 2020. This growth is largely attributed to the exponential growth in the consumer electronics application, especially the growing demand for devices such as cameras, smartphones, and tablets. The advancements in camera modules have been driven by the continuous technological evolutions in the present era. Camera modules are widely used in several other applications including security & surveillance, automotive, industrial, healthcare, automotive, and aerospace & defense. The development of advanced driver assistance systems (ADAS) for automotive application is also expected to boost the demand for camera modules.

The global Camera Modules Market report describes the market trends, drivers, and challenges in the camera modules market and forecasts the market till 2020. The market has been segmented on the basis of component, process, pixel, application, and geography. The camera modules market is segmented on the basis of geography into North America, Europe, Asia-Pacific, and RoW (rest of the world). APAC is the largest market for camera modules and is expected to continue to hold the largest market size till 2020. The region has been further segmented into China, Japan, South Korea, and Rest of APAC, wherein China occupies the major market share in the region. North America and Europe are also considered to be promising markets, with countries such as the U.S. and Canada in North America and Germany and Italy in Europe expected to register a high growth rate.

The competitive landscape of the market provides valuable information about the various players in the camera modules market. The global camera modules market report profiles 10 promising players in the market and further details their business overview, product portfolio, recent developments, and key strategies adopted by them. The market is witnessing new product developments, partnerships, agreements, and mergers & acquisitions across the value chain and between companies.

The major players in the global camera modules market include LG Electronics Inc. (South Korea), Samsung Electro-Mechanics Co., Ltd. (South Korea), Sharp Corporation (Japan), Lite-On Technology Corporation (Taiwan), Cowell e Holdings Inc. (China), Partron Co., Ltd. (Korea), Sunny Optical Technology (Group) Company Limited (China) Foxconn Electronics Inc. (Taiwan), Chicony Electronics Co., Ltd (Taiwan), and Toshiba Corporation (Japan) among others.

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