Driven by robust applications in the automotive sector and consumer electronics industry, compact camera modules continue to incur advancements in terms of new resolution envelopes, improved imaging capabilities, and high integration. As billions of smartphones and tablets get sold across the globe, manufacturers of compact camera modules witness a soaring demand. Integration of compact camera modules in a variety of electronics and electrical devices is picking up traction, which has influenced the manufacturers towards understanding the holistic applicability of compact camera module rather than creating single-purpose modules. Effective application of compact camera modules in automotive technologies has further extended their application purview, and unlocked new opportunities for market players.
Transparency Market Research’s latest forecast study on the global compact camera module market observes a robust expansion for the market over the forecast period, 2017-2026. During this period, the global compact camera module market is assessed to expand at a value CAGR of 12.1%. The report further estimates that by the end of 2026, compact camera modules sold across the globe will rake in revenues worth over US$ 92.8 Bn.
Compact Camera Modules with Auto-Focus Lens to Capture Highest Sales
Different types of hand-held devices require specific compact camera modules to operate from the front-end or backside. Based on these specifications, manufacturers develop compact camera modules with auto-focus lenses or fixed-focus lenses. In 2017, it has been estimated that the sales of compact camera modules with auto-focus lens accounted for an approximately two-thirds share of the overall global market value. The report projects that through 2026, compact camera modules developed with auto-focus lenses shall outsell the modules with a fixed-focus lens. Interdependence of auto-focus lens modules with other components of the electronic device will boost their functioning and drive their essentiality in terms of enhancing the image capturing capabilities of devices. By the end of 2026, more than US$ 67 Bn worth of compact camera modules with the auto-focus lens are likely to be sold globally.
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Automotive End-use of Compact Camera Modules to Incur Steady Traction
Explosive growth in the global automotive industry has had a considerable influence in boosting the adoption of compact camera modules. The overall global compact camera module ecosystem witnesses growing integration of these modules in automotive technologies such as advanced driver assistance systems (ADAS) and parking systems. Moreover, manufacturers are simplifying the assembly of compact camera modules to meet the expectations of OEMs in the automotive industry. Over the forecast period, the automotive end-use of compact camera modules is pegged to register a 9.8% CAGR in terms of value. However, mobile device end-use of compact camera modules will register the fastest revenue growth during the forecast period and will represent more than 80% of the global market value by the end of 2026.
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Compact Camera Module Market: Key Companies
Leading manufacturers of compact camera modules have been identified in the report. Companies namely, Semco, LG Innotek, O-Film, Foxconn Sharp, Henkel, Sunny Optical, Menex, Liteon, Cowell and Q-tech are observed as global leaders in compact camera module manufacturing and are extensively profiled in this report. A key focus of these market players is to capitalize on the growing developments of advanced camera module technologies put forth by smartphone and tablet manufacturers. Moreover, several companies will be developing modules that can effectively support the integration of additional image capture capabilities and keep pushing the resolution scope through increased camera module functionality and reliability.
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