The global camera module market size is expected to reach USD 61.78 billion by 2022, growing at a CAGR of 16.2% from 2015 to 2022, according to a new report by Grand View Research, Inc.

Technological proliferation and the increasing demand for smartphones and tablet PC devices are expected to drive growth over the forecast period. Such increase in the demand for high definition smartphones is expected to drive the market for advanced CMOS and CCD technology-based devices, boosting the prospects of camera module manufacturers.

The demand for camera modules in smartphones and tablet PCs has increased exponentially over the last decade, thereby supporting industry growth. Almost all the mobile phones in the coming years are expected to have such modules installed in them.

The market is broadly segmented on the basis of image sensor technology and the application segment. Vendors offer CMOS and CCD technology-based image sensors that are used to manufacture these modules to be used in various consumer electronic devices.

CMOS is majorly used at present as compared to CCD. CMOS sensors are produced in bulk for many low-end applications and their price depends on its application. On account of the need for a specialized manufacturing process, CCD image sensors are expensive as compared to their CMOS counterparts, and are used in niche applications such as professional and high-end consumer electronic products.

These devices find extensive applications in medical and healthcare segments, smartphone & tablet PC devices, automotive industry, defense & aerospace, industrial & security applications, and consumer electronics.

Browse full research report on Camera Module Market Analysis:

Further key findings from the report suggest:

• The growth of Unmanned Aerial Vehicles (UAV) has increased the demand for high-definition cameras in military applications. Additionally, the demand for high-resolution cameras for satellite imaging in space has also increased. The increasing need for imaging device in defense and space is also expected to contribute to camera module industry growth.
• Automotive sector is one of the rapidly growing segments for such advanced devices. The main factor contributing to this growth is the enforcement of government regulations in different regions. Driver safety has been a major concern for the government. Various initiatives are being taken by governments and car manufacturers in many regions to ensure driver safety and reduce the numbers of on-road accidents.
• Moreover, legislations related to the mandatory installation of imagers in automobiles are expected to improve the vision of the vehicle driver. Increasing adoption of these regulations in regions such as North America and Europe is estimated to have a positive impact on industry growth.
• Apart from automotive and defense, the demand for imaging devices in these technologies has increased due to the increasing awareness for health and aging population. This factor has positively influenced the growth in demand for such devices in the medical and health sciences sector.
• Asia Pacific camera module market accounted for over 60% of the revenue in 2014, owing to the existence of major smartphone and electronics component manufacturers. However, countries from North America and Europe are estimated to witness significant demand due to the presence of consumers with high disposable incomes and tech-savvy lifestyles in the region.
• Smartphone manufactures such as Samsung Corporation are manufacturing such modules for their devices reducing their dependence on other manufacturers for its components and modules.
• Key vendors include Foxconn Technology, Chicony Electronics, LG Innotek, Lite-On Technology, Partron, Samsung Electro-Mechanics, Sharp, STMicroelectronics N.V., Sunny Optical Technology Group, and Toshiba.

For more information: http://www.grandviewresearch.com