The global compact camera module market is projected to grow at a CAGR of 9.11% during the forecast period to reach US$57.229 billion in 2024 from US$33.911 billion in 2018. Compact camera modules are the modules which are used in security camera, medical devices, and consumer electronic devices such as computers, smartphones, tablets and peripherals. Growing demand for consumer electronic devices on account of rising disposable income and improvement in the standard of living in the developing countries will drive the demand for these modules. In addition, improvement in the standard of living coupled with the switch from traditional security to smart security solutions will further boost the demand for these devices. Increasing demand for advanced healthcare devices for diagnostic and therapeutic applications will further add to the demand for these modules over the forecast period.
Increasing demand of smartphones and consumer electronics
Rapid technological advancements
Budding demand for these modules in the automotive industry
In June 2019, Holitech Technology opened their first manufacturing plant in Greater Noida, India, and will be investing over US$200 million in the coming three years in the country. The plant will be manufacturing compact camera modules, capacitive touch screen modules, thin film transistors, flexible printed circuits, and fingerprint modules.
In December 2018, AIVION announced their TL8652 interface board, which is an HDMI interface for Tamron’s MP1010M-VC and MP1110M-VC ultra-compact camera modules.
The major players profiled in the compact camera module market include Truly Opto- Electronics Ltd., Excelitas Technologies Corp., Delo, and LG Innotek, among others.
The Compact Camera Module market has been analyzed through the following segments:
Security and Surveillance
Middle East and Africa