Market Size of Compact Camera Module Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 10.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Compact Camera Module Market Analysis
The compact camera module market is expected to grow at a CAGR of 10.2% over the forecast period. The pandemic has positively impacted the market despite disruptions in the supply chain due to constant lockdowns and changing government regulations around the globe. Moreover, the pandemic triggered the increasing demand for disposable bronchoscopes in healthcare that uses small-sized camera modules.
- In the current scenario, being a part of the mobile manufacturing market supply chain is a key factor for success in the CCM market. For instance, the Korean ecosystem has observed sustained development due to the presence of Samsung and LG.
- The average selling price of the camera modules has continuously declined over the past few years. Along with that, the need for rapid innovations in the camera module is assisting in retaining dominance with the critical players in the market.
- The application of CCM in the automotive for advanced driving assistance and automotive electronics is driving the market for a compact camera module. The innovation in the CCM design has benefited the rising application in automobiles.
- A significant driver for this market has been the emergence of the automotive compact camera module as an integral factor for automated driving, automotive electronics, and advanced driver assistance. This is also reducing the average selling price of these compact modules. Therefore, the increasing demand for connected and autonomous vehicles will also offer a massive opportunity to the studied market vendors during the forecast period.
- Additionally, the demand for CMOS camera modules is increasing rapidly. CMOS sensors offer various advantages over CCD sensors, such as low power consumption, faster frame rate, ease of manufacturing, and low cost. Moreover, the advancements in CMOS design, like miniaturization, make it possible to achieve better performance and quality of images even in low light conditions.
- According to Sony Corporation, the COVID-19 pandemic has had a minimal effect on the production of image sensors (particularly CMOS image sensors), including any impact on the procurement of materials. However, owing to the aforementioned factors, the company only expects to take a hit in terms of supply chain issues for smartphone manufacturers. This has been positive news for end users that rely on Sony chips, as they need not face any issues in procuring image sensors for their latest products.
