Camera Module Market - Growth, Trends, and Forecast (2019 - 2024)

The Camera Module Market is Segmented by Component (Image Sensor, Lens), End-user Industry (Consumer Electronics, Automotive, Healthcare, Industrial, and Security), and Geography.

Market Snapshot

cagr
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

11.71%

Key Players:

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Market Overview

The camera module market was valued at USD 32.9 billion in 2018, and it is expected to reach USD 63.92 billion by 2024, registering a CAGR of 11.71%, during the forecast period (2019-2024). The recent trend of security camera will drive the camera module market in the forecast period.

  • Increasing demand for camera module 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, government rule on implementation of the driver assistance system on vehicles is expected to boost the growth of the camera module market in this region.
  • The major challenge for the camera module market would be the manufacturing of these modules since very skilled personnel needed because components are very delicate.

Scope of the Report

The camera module is a set of standardized parts or independent units that can be used to construct a more complex camera structure depending on its usage in end-users, which are automotive, healthcare, consumer electronics, and others.

By Component
Image Sensor
Lens
By End-user Industry
Consumer Electronics
Automotive
Healthcare
Industrial and Security
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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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
  • For instance, Sony Corporation is increasingly investing in image sensor technology that gives vehicles evolved vision as society moves toward the advent of fully autonomous driving.  They have launched IMX324, a CMOS image sensor equipped with the industry's highest resolution for forward-sensing cameras in advanced driver assistance systems (ADAS).
  • 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. 
graph

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Asia-Pacific Holds the Largest Market Share

  • Asia-Pacific had the largest market share, due to the presence of several established vendors of the camera module in the region, and also due to the established electronics industry in this region.
  • The growing market for ADAS in this region is one of the prime factors leading to the growth of the camera module market, as major Japanese tier-1 companies, such as Denso, Aisin, etc., are aggressively investing to launch new and better products.
  • Industrial automation adoption in China is also expected to drive the camera module market for industrial image processing systems. Manufacturing output in China increased by 7.40% in April 2018, when compared to that of the same month in the previous year. Manufacturing output in China averaged 7.84% from 2013 to 2018.
  • The increasing infrastructure development, growing economy, rising automation and digitization, and the growing electronic industry are expected to fuel the demand for image sensor in India. Thus, driving the demand for the camera module market over the forecast period.
heatmap

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Competitive Landscape

The major companies in the market are Chicony Electronics Co. Ltd, Cowell E Holdings Inc., Fujifilm Corporation, LG Innotek Co. Ltd, Primax Electronics Ltd, Samsung Electro-Mechanics Co. Ltd, Sony Corporation, STMicroelectronics NV, Toshiba Corporation, and others. The market is fragmented since it has high competition without dominant players. Hence, market concentration will be low.

  • October 2018: Samsung Electronics, a world leader in advanced semiconductor technology, introduced two new 0.8-micrometer (μm) pixel image sensors – the 48-megapixel (Mp) Samsung ISOCELL Bright GM1 and the 32Mp ISOCELL Bright GD1.
  • January 2018: STMicroelectronics exhibited its latest camera module semiconductor for smart driving at the Automotive World 2018, owing to the rapid advances in the development of leading-edge technologies, such as autonomous driving, advanced driver-assistance systems (ADAS).

Major Players

  1. Fujifilm Corporation
  2. LG Innotek Co. Ltd
  3. Samsung Electro-Mechanics Co. Ltd
  4. Sony Corporation
  5. Toshiba Corporation

* Complete list of players covered available in the table of contents below

MC

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Increased Market of Advanced Driver Assistance System in Vehicles

      2. 4.3.2 Increase in Use of Security Camera at Households and at Commercials

    4. 4.4 Market Restraints

      1. 4.4.1 Manufacturing is Complicated as the Components are Delicate and Need Skilled Personnel

    5. 4.5 Value Chain / Supply Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Component

      1. 5.1.1 Image Sensor

      2. 5.1.2 Lens

    2. 5.2 By End-user Industry

      1. 5.2.1 Consumer Electronics

      2. 5.2.2 Automotive

      3. 5.2.3 Healthcare

      4. 5.2.4 Industrial and Security

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Latin America

      5. 5.3.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Chicony Electronics Co. Ltd

      2. 6.1.2 Cowell E Holdings Inc.

      3. 6.1.3 Fujifilm Corporation

      4. 6.1.4 LG Innotek Co. Ltd

      5. 6.1.5 Lite-On Technology Corporation (LuxVisions Innovation Limited)

      6. 6.1.6 Primax Electronics Ltd

      7. 6.1.7 Samsung Electro-Mechanics Co. Ltd

      8. 6.1.8 Sharp Corporation

      9. 6.1.9 Sony Corporation

      10. 6.1.10 STMicroelectronics NV

      11. 6.1.11 nny Optical Technology (Group) Company Limited

      12. 6.1.12 Toshiba Corporation

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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