Camera Module Market Growth Accelerated By Increasing Adoption Of Camera Module In Smartphones

Camera Module Market

Camera modules are integral components of modern smartphones that enable users to capture high-quality images and videos. Camera modules offer advanced features such as autofocus, optical zoom, optical image stabilization and high megapixel count that allow users to take professional-grade photographs directly from their smartphones. This has significantly boosted the adoption of advanced camera-equipped smartphones globally. The global Camera Module Market is estimated to be valued at US$ 4.60 Billion in 2024 and is expected to exhibit a CAGR of 6.58% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing adoption of Camera Module in smartphones is one of the major trends currently being witnessed in the market. As smartphones are increasingly being used to post travel photos and portraits on social media platforms, OEMs are recognizing the importance of advanced camera features in boosting smartphone sales. This has accelerated the incorporation of high-resolution sensors, advanced lens configurations and other cutting-edge technologies in the camera modules by smartphone manufacturers. The emergence of multi-camera smartphones further augments market growth. Major smartphone manufacturers are opting for versatile camera modules that allow shooting modes such as portrait, noise and close-up photographs. This trend is expected to drive Camera Module demand over the forecast period.

Segment Analysis
The Global Camera Module Market Demand is dominated by the CMOS sub-segment which holds around 60% of the total market share. CMOS camera modules have gained popularity over CCD modules as they provide higher quality images and videos along with low power consumption. They are increasingly being used in premium smartphones, tablets, and other devices. The high pixel count camera modules segment is also growing at a fast pace as OEMs are focusing on improving the camera capabilities of devices.

Key Takeaways
The global camera module market is expected to witness high growth over the forecast period driven by increasing use of multiple camera setups in smartphones and demand for high-resolution cameras from end users.

Regional analysis. Asia Pacific currently dominates the global market and is expected to maintain its leading position during the forecast period. This can be attributed to presence of several camera module manufacturers and smartphone OEMs in China, Taiwan and South Korea. In addition, many global players are establishing manufacturing facilities in the region to cater to the growing local demand. Europe and North America are other major markets owing to high demand for camera-enabled devices.

Key players. Key players operating in the camera module market are Samsung Electro-Mechanics, LG Innotek, Sharp, Lite-On Technology Corporation. Samsung Electro-Mechanics holds the largest market share owing to its leadership in the smartphone camera module space. It supplies camera modules for flagship phones of major brands like Samsung, Apple etc. LG Innotek has also strengthened its position by partnering with major smartphone OEMs for multi-camera setups.

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