- According to a recent study by Grand View Research, Inc., the camera module market was worth USD 17.8 billion in 2014. It is expected to surpass USD 61 billion by 2022. This may be attributed to rapid developments in technology and proliferation of smartphones and tablets.
Surging demand for smartphones with high-resolution cameras is boosting the global market. Increased social networking sites online are creating huge demand for high quality pictures shared on the internet. Moreover, proliferation of e-learning, video conferencing, and online chatting is also proving favorable for the market.
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The study identifies smartphones and tablet PCs, defense & space, medical, automotives, industrial & security, and consumer electronics as the application segments of the camera module market. Smartphones & tablet PCs were the dominant segment in 2014. They will account for about 76% of the global shipments by 2022.
Camera modules are also used in medical imaging devices. Thus, diagnostic imaging procedures like ultrasound, radiography, and Magnetic Resonance Imaging (MRI) ensure the utilization of camera modules. A growing geriatric population coupled with rising health awareness will propel the demand for these procedures and consequently the camera module market.
Automotive applications are anticipated to grow at a fast pace in the forthcoming years. This is due to governmental regulations promoting vehicular and driver safety. North America and Europe, in particular, have been at the forefront in following these regulations. The use of Unmanned Aerial Vehicles – UAVs and satellite imaging will grow the demand for camera modules in the defense and space industries respectively.
The two technology segments are Complementary Metal Oxide Semiconductors (CMOSs), and Charged Coupling Devices (CCDs). CMOSs are the most commonly used technology at present. CCDs are primarily used in consumer electronic devices and some scientific/technical sectors.
North America, Europe, Asia Pacific, and ROW – Rest of the World are the four regional segments in the camera module market. North America and Europe will witness rapid growth due to automotive legislations and technologically-savvy populations. Asia Pacific contributed more than 59% share in 2014. A strong base of companies manufacturing electronic components and smartphones is recognized as a favorable regional market driver.
The eminent players in the camera module market are LG Innotek, Foxconn Technology, Partron, Chicony Electronics, Lite-On Technology, Samsung Electro-Mechanics, Sharp Corporation, and Toshiba Corporation.
Information Source: Grand View Research
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