The Camera Modules Market Growth Grows Significantly With The Rise In Popularity Of Advanced Cars - EIN Presswire

2022-05-28 11:17:38 By : Ms. Cathy .

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Camera Modules Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Camera Modules Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, May 16, 2022 /EINPresswire.com/ -- The rising popularity of automated and semi-automated cars is significantly contributing to the growth of the global camera modules market. Automated and semi-automated cars are the advanced cars having Autonomous Driving System (ADS) which uses artificial intelligence, integrated cameras and other software to perform all driving tasks on behalf of drivers or providing certain driving assistance like active steering, breaking and acceleration based on roads and other environmental conditions. Camera modules are highly used in camera systems of automotive, which are the integrated part of Autonomous Driving System to provide high definition of imaging to process data for driving cars autonomously. For instance, in 2020, according to International Data Corporation (IDC) report, approximately around 31.4 million vehicles are with some kind of automations and expected to reach around 54.2 million vehicles in 2024. Therefore, the rise in popularity of automated and semi-automated cars is expected to propel the growth of the camera modules market over coming years.

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The global camera modules market size is expected to grow from $39.58 billion in 2021 to $43.70 billion in 2022 at a compound annual growth rate (CAGR) of 10.41%. The growth in the market is mainly due to the companies' resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global camera modules market share is expected to reach $59.83 billion in 2026 at a CAGR of 8.17%.

Strategic partnerships and collaborations are the key trends being followed by the companies operating in the global camera module market. This is due to the presence of a large number of camera module manufacturing companies operating in the market and their desire to extend their growth into new areas of the market. For instance, in March 2021, OnePlus, a China-based smartphone manufacturing company, and Hasselblad, a Sweden-based camera manufacturing company, formed a strategic partnership for three years. This partnership will allow OnePlus to strengthen its mobile camera quality by developing next-generation camera systems for its new OnePluse 9 series devices and additionally improving and updating software, colour tuning, sensor calibration, and user-friendly camera interface.

Major players covered in the global camera modules market industry are Samsung Electro-Mechanics, LG Innotek, Sony Corporation, Sunny Optical Technology (Group) Company Limited, Hon Hai Precision Industry Co. Ltd, Sharp Corporation, Stmicroelectronics, Omnivision, Chicony Electronics CO. Ltd, Partron Co. Ltd, LITE-ON Technology Corporation, Toshiba Electronic Devices & Storage Corporation, cowell, Primax Electronics Ltd, AMS Technologies AG, ofilm, and McNex Co. Ltd.

TBRC’s global camera modules market analysis report is segmented by product type into CMOS camera module, CCD camera module, by component into image sensors, lens modules, voice coil motors, by focus type into interface, pixel, process, by applications into medical, smartphone and tablet PC, automotive, defense and space, industrial and security, consumer electronics.

Camera Modules Global Market Report 2022 – By Product Type (CMOS Camera Module, CCD Camera Module), By Component (Image Sensors, Lens Modules, Voice Coil Motors), By Focus Type (Interface, Pixel, Process), By Applications (Medical, Smartphone & Tablet PC, Automotive, Defense & Space, Industrial & Security, Consumer Electronics) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a camera modules market overview, forecast camera modules market size and growth for the whole market, camera modules market segments, geographies, camera modules market trends, camera modules market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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