Want to Dive Into Cameras? Here’s a Sneak Peek
The Global Compact Camera module market is projected to grow at a CAGR of 12.35 % during the forecast period to reach US$64.021 billion by 2027, from US$28.326 billion in 2020.
Compact Camera Module is commonly used in video conferencing, security systems, and real-time monitoring as a video input device. With the advancement of Internet technology, the continual improvement of network speed, combined with the maturity of photographic imaging device technology and its widespread usage in the manufacture of cameras, the price of cameras has fallen to a level that ordinary people can afford. Camera is now widely utilized in mobile phones, PDAs, and Tablet PCs, encouraging further advances in photographic imaging technology such as 5 megapixels, 8 megapixels, 13 Megapixels, and 24 Megapixels. Compact camera modules are commonly found in electronic gadgets like cell phones and tablets. The compact camera module is designed for ease of use, with focus-free or autofocus lenses for focusing, as well as automatic exposure settings and built-in flash units. Medical devices, consumer electronics, security monitoring, and communication are all potential applications for these modules.
Factors Accelerating the Market:
Factors such as an increase in smartphone penetration and growth in the consumer electronics industry drive the demand for the compact camera module market. However, the heavy and high maintenance cost of cameras impedes market growth. The rise in the development of the market for advanced driver assistance systems (ADAS) ensures emerging growth opportunities for the market globally. The use of compact camera modules in a variety of electrical devices and electronics has gained popularity, prompting producers to focus on CCM's overall applicability rather than designing single-purpose modules. The effective implementation of CCMs in automotive-oriented technologies has broadened the scope of the applications, opening up a slew of new prospects for market participants. Due to the increasing customer demands and the competitive nature of the industry, the mobile segment has the biggest market share of the small camera module market. Cameras have become a key and important component for mobile device manufacturers since the type of camera and the pixel size of the camera have a significant impact on the consumer's purchasing choice.
Major Manufacturing Plants:
Camera module manufacturers are located in China, Japan, and South Korea, among other places. Due to the low manufacturing technicalities, the camera module sector has seen a surge in the number of producers in China's domestic market. However, as the market rivalry has expanded, the price war has escalated. Competition to produce new and sophisticated versions with higher resolution and the smaller size is projected to boost the market's entrance barrier in the next years. The need for camera modules is likely to expand in the future as smart technology's application and popularity spread in developing regions. The aerospace, automotive, pharmaceutical, consumer service, and robotics industries, among others, all present a potential market for camera modules globally.
- Himax Imaging Inc. introduced the HM0360, the industry's first ultra-low power, low-latency back-illuminated CMOS image sensor with autonomous modes of operation, in January 2020. It enables a highly compact camera module to design intelligent visual sensing applications, such as human presence detection and tracking, gaze detection, behavioral analysis, and pose estimation, for growing markets such as smart homes, smart buildings, healthcare, smartphone, and AR/VR devices, by supporting multiple power supply configurations with minimal passive components.
- AMS AG introduced one of the world's smallest digital camera modules in December 2020. The company announced the pre-release of one of the smallest and lightest 100k pixel image sensors for usage in mobile or wearable consumer devices, such as virtual reality (VR) headsets. The new NanEyeC image sensor comes in a lensed chip-scale module with a 1mm2 footprint and a weight of about 1g. The NanEyeC camera is a full-featured image sensor with a lensed surface-mount module that measures 1mm x 1mm.
- Digital Media Professionals Inc. stated in September 2021 that in the first quarter of the fiscal year 2022, it will begin accepting orders for a high-precision compact embedded monocular camera system.
- Samsung Electro-Mechanics was given a camera contract for a next-generation electric car by a North American electric vehicle company in July 2021. In a competitive bidding process, Samsung Electro-Mechanics was chosen as the winning bidder.
- Apple Inc., a US-based consumer electronics device manufacturer, released iPhone 13 in September 2021 with a new improved camera module technology.
- Vivo Communication Technology Co. Ltd., a Chinese smartphone manufacturer, got a patent for a removable in-display camera module in August 2021.
Before the COVID-19 epidemic, the compact camera module market was expanding at a steady rate. One of the key drivers of market expansion has been greater use in the mobile and consumer electronics industries. Due to production and supply chain interruptions, as well as lower consumer demand, the market for small camera modules shrank in 2020 as a result of the COVID-19 pandemic. As a result, the COVID-19 scenario's prediction for the compact camera module market has been drastically revised downwards. In comparison to the no COVID-19 scenario, the COVID-19 reduced the income generation possibility for compact camera module makers by an estimated US$13.005 billion in 2020.
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