Camera Modules Market Worth 36.95 Billion USD by 2020
According to a new market research report "Camera Modules Market by Component (Image Sensor, Lens Module), Process (Flip-Chip), Pixel, Application (Consumer Electronics, Security & Surveillance, Automotive, Aerospace & Defense, Industrial), and Geography - Global Forecast to 2020", published by MarketsandMarkets, the total Camera Modules Market is expected to reach USD 36.95 Billion by 2020, growing at a CAGR of 10.8% between 2015 and 2020.
Browse 86 market data Tables and 112 Figures spread through 202 Pages and in-depth TOC on "Camera Modules Market"
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In today's era of technology, the camera modules market is expanding from its traditional digital camera applications into various other applications such as security, automotive, medical, and others. The growth of the camera modules market is mainly driven by the exponential growth in the consumer electronics application, especially the growing demand for devices such as cameras, smartphones, and tablets.
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Cameras have become one of the important parameters for mobile device manufacturers as the purchasing decision of end users depends on the type of camera and pixel size of the camera in the mobile phone. Top companies such as Samsung, Apple, and LG are expanding rapidly in the smartphones and tablets market as the mobile imaging in these devices is widely adopted by end users. Moreover, the growing market for advanced driver assistance systems (ADAS) in the automotive sector is boosting the demand for image sensors, and in turn, for camera modules. ADAS make use of image sensors to provide safety features such as parking assistance, lane-departure warning, and collision avoidance systems. Machine vision is also one of the applications where camera modules are increasingly being used for flaw detection, positioning, identification, verification, and measurement of the products in various industries.
However, the heavy maintenance and high cost of camera modules restrain the growth of the camera modules market. The use of 3D motion sensors for indoor navigation and the increasing focus on bringing advancements into the image storage and sensor throughput of camera modules provide opportunities for this market. The major challenge in the camera modules market is the miniaturization of image sensor chips in the development of image sensors of camera modules.