Global Camera Module Market to Reach US$ 80.5 Billion by 2032, Propelled by the Growing Demand for Electronics

The latest report by IMARC, titled “Camera Module Market Report by Component (Image Sensors, Lens Modules, Voice Coil Motors, and Others), Focus Type (Fixed Focus, Autofocus), Interface (Camera Serial Interface, Camera Parallel Interface), Pixels (Up to 7 MP, 8 to 13 MP, Above 13 MP), Process (Flip-Chip Camera Module, Chip-On-Board Camera Module), Application (Consumer Electronics, Automotive, Healthcare, Industrial, Security and Surveillance, Aerospace and Defense), and Region 2024-2032”, finds that the global camera module market size reached US$ 42.9 Billion in 2023. A camera module refers to a product used to capture videos and photos from mobile devices, including smartphones, smart home appliances, and automobiles. It is an integral component of sensor stimulation, which validates camera-based assistance and automated driving functions. It involves an infrared filter (IR filter), lens, digital signal processing (DSP), aperture, and a soft board, which enables camera stimulation depending on the light propagation and measurement of the imager chip. In recent years, the camera module has gained traction as it is being extensively used in security systems, video conferencing, and real-time monitoring as video input devices.

Global Camera Module Market Trends:

One of the primary factors driving the market is the escalating demand for electronics. Additionally, the considerable utilization of camera modules in tablets, interior navigation, satellite space imaging, and picture storage is creating a positive market outlook. Other than this, the market is propelled by the growing awareness of the associated benefits of camera modules over the conventional charged-coupled device (CCD) sensors, including faster frame rate, cost-effectiveness, and lower power consumption. Besides this, rapid industrialization and urbanization, especially in emerging nations, is resulting in the increased demand for advanced security and surveillance systems, thus catalyzing the market growth. In line with this, the product has gained popularity in government buildings, smart homes, and commercial complexes, further strengthening the market growth. Furthermore, the introduction of high-aerial vehicles (UAV) has become a vital factor that has escalated the demand for high-definition (HD) cameras in the military sector. Other major growth-inducing factors include improvement of network speed, continuous maturity of photographic imaging device technology, and development of advanced internet technology. Looking forward, IMARC Group expects the market value to reach US$ 80.5 Billion by 2032, expanding at a CAGR of 7.19% during the forecast period (2024-2032).

Market Summary:

• Based on the component, the market has been segmented into image sensors (CMOS and CCD image sensors), lens modules, voice coil motors, and others.
• On the basis of the focus type, the market has been bifurcated into fixed and autofocus.
• Based on the interface, the market has been divided into camera serial and camera parallel interface.
• On the basis of the pixels, the market has been categorized into up to 7 MP, 8 to 13 MP, and above 13 MP.
• Based on the process, the market has been classified into flip-chip and chip-on-board camera module.
• On the basis of the application, the market has been segmented into consumer electronics, automotive, healthcare, industrial, security and surveillance, and aerospace and defense.
• Region-wise, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
• The competitive landscape of the market has also been analyzed, with some of the key players being ams AG, Chicony Electronics Co. Ltd., Cowell E Holdings Inc., LG Innotek Co. Ltd., LITE-ON Technology Corporation, OFILM Group Co. Ltd., Partron Co. Ltd., Primax Electronics Ltd., Samsung Electro-Mechanics Co. Ltd. (Samsung Group), Sharp Corporation, STMicroelectronics and Toshiba Corporation.

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