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Camera Module Market - Growth, Trends, Forecasts (2020 - 2025)

Camera Module Market - Growth, Trends, Forecasts (2020 - 2025)

  • May 2020
  • 158 pages
  • ID: 5903699
  • Format: PDF
  • Mordor Intelligence LLP


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The camera module market was valued at USD 32.14 billion in 2019, and it is expected to reach USD 49.69 billion by 2025, registering a CAGR of 8.1%, during the forecast period (2020 - 2025). The recent trend of security cameras is expected to drive the camera module market in the forecast period.

- Increasing demand for camera modules in the security and surveillance systems is further driving its growth opportunities. Thus, tapping into the household security market, intelligent buildings, and outdoor security market, along with the opportunities in government facilities and commercial buildings. They consume low power, have a faster frame rate, and are easy to manufacture at low cost. They have better performance and quality of images even in low light conditions.
- The growth in ADAS and automated driving presents a lucrative opportunity for the growth of the market studied. Moreover, the increasing focus of the governments, across the world, on installing ADAS and legislation mandating the installation of safety technologies in passenger cars. For instance, both the European Union and the United States are mandating that all vehicles be equipped with autonomous emergency-braking systems and forward-collision warning systems by 2020.
- Additionally, the demand for CMOS camera modules is increasing 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, like miniaturization, make it possible to achieve better performance and quality of images even in low light conditions.
- Companies are providing cameras with exceptional abilities due to the COVID-9 outbreak. For instance, recently, Athena Security launched security cameras which use thermal imaging and computer vision tech to detect people who have fever possibly related to the coronavirus.

Key Market Trends
Application in Automation Accounts for Significant Market Share

- As the automotive sector steadily transitions to the autonomous era, there have been several recent business collaborations among automotive giants, chip makers, and system integrators. The manufacturers are producing innovative image sensors and cameras to withstand the toughest conditions, such as cold, heat, or continuous vibrations. Or long-distance driving assistance system, which reduces accidents due to negligence and fatigue from long-duration driving
- According to Omnivision, by 2020, the number of automotive image sensors sold annually is likely to exceed 170 million, fueled by a revolution in the way people commute. Thus, vehicle connectivity is expected to become indispensable in the future, primarily for proper communication among vehicles, especially for decision making and comprehension of geographical, audio, and other data. This is likely to drive the adoption of image sensors technology.
- Since the production of ADAS is increasing globally the next-generation ADAS will increasingly leverage wireless network connectivity to offer improved value by using car-to-car (also known as vehicle-to-vehicle, or V2V) and car-to-infrastructure (also known as vehicle-to-infrastructure, or V2X) data.

Asia-Pacific Holds the Largest Market Share

- The camera modules market in the Asia-Pacific region witnessed growth due to the widespread presence of electronics and automobile manufacturing companies, as well as an increase in consumers’ purchasing power. The region has witnessed a growth in smartphone adoption and smart surveillance systems, fueling deployment of camera modules to cater to a booming consumer electronics manufacturing sector.?
- Growing demand for smartphones and other consumer electronics products from countries, such as China, the Republic of Korea, India, and Singapore, are encouraging many companies to set up production establishments in the Asia-Pacific region. The abundant availability of raw materials and the low establishment and labor costs also helped the companies launch their production centers in the region. ?
- The increasing infrastructure development, growing economy, rising automation and digitization, and the growing electronic industry are expected to fuel the demand for image sensors in India. Thus, driving the demand for the camera module market over the forecast period.

Competitive Landscape
The major companies in the market are Chicony Electronics Co. Ltd, Cowell E Holdings Inc., Fujifilm Corporation, LG Innotek Co. Ltd, Samsung Electro-Mechanics Co. Ltd, Sony Corporation, among others. The market appears to be fragmented since it has high competition without dominant players. The vendors in the market are adopting strategies such as product innovation and expansion in order to stay competitive in the market.

- Jul 2019 - FUJIFILM Corporation released “FUJIFILM SX800” (“SX800”), a new long-range surveillance camera equipped with a built-in lens. The SX800 is developed with efficient optical technology and image processing technology and features a high-performance built-in FUJINON zoom lens, capable of 40x optical zoom, in order to offer a focal length range extending to 800mm.
- May 2019 - Samsung Electro-Mechanics developed an ultra-slim optical 5x zoom camera module. The company announced that it will mass-produce the new camera module, which establishes 5x zoom at a lower height than the conventional optical 2x zoom.

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