Camera Module Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The camera module market was valued at USD 40.08 billion in 2021, and it is expected to register a CAGR of 9.79% over the forecast period 2022-2027. A camera module is a product that takes photos and videos from devices like smartphones, automobiles, smart home appliances, etc. It is widely used in video conferencing, security systems, and real-time monitoring as a video input device. It comprises image sensors, an IR-cut filter, an actuator (AF/OIS), a lens set, a lens mount, etc. Module assembly brings all these components together into a module.
Key HighlightsThe major companies in the market are Chicony Electronics Co. Ltd, Cowell E Holdings Inc., Fujifilm Corporation, LG Innotek Co. Ltd, and LuxVisions Innovation Limited (Lite-On Technology Corporation), among others. The market appears fragmented since it has high competition without dominant players. The market vendors adopt strategies, such as product innovation and expansion, to stay competitive. Some of the recent developments in the market are:
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