Compact Camera Module Market Surge Expected as 5G and IoT Integration Increases

Compact Camera Module Market is Expected to Reach $57.81 Billion, Globally, by 2024

WILMINGTON, DE, UNITED STATES, November 22, 2024 /EINPresswire.com/ -- Allied Market Research, titled, Global Compact Camera Module Market by Component and Application: Global Opportunities Analysis and Industry Forecast, 2018-2024, the global compact camera module market was valued at $26.66 billion in 2017 and is projected to reach $57.81 billion by 2024, registering a CAGR of 11.4% from 2018 to 2024.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/4645

Compact camera modules find major applications in the consumer electronics industry. The integration of compact camera modules in diverse electrical devices and electronics has gained traction, which has thereby influenced the manufacturers to incline toward holistic applicability of CCM rather than building single-purpose modules. The effective application of CCMs in automotive-centric technologies further extends the purview of the applications, thus unlocking several opportunities for the market players.

Compact camera modules have gained momentum in recent years owing to the growth in the consumer electronics industry. Smartphone manufacturers continue to innovate in advanced camera module technologies thus propelling the growth of the compact camera module market.

The increase in the smartphones shipped, particularly in Asia-Pacific significantly drives the market growth. Further, the rise in the need for slimmer smartphones with advanced cameras influenced several technological advancements in the compact camera module market.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/4645

The report features a competitive scenario of the global compact camera module market and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players operating in the global compact camera module market include 𝑺𝒆𝒎𝒄𝒐, 𝑳𝑮 𝑰𝒏𝒏𝒐𝒕𝒆𝒌, 𝑶-𝑭𝒊𝒍𝒎, 𝑭𝒐𝒙𝒄𝒐𝒏𝒏 𝑺𝒉𝒂𝒓𝒑, 𝑯𝒆𝒏𝒌𝒆𝒍, 𝑺𝒖𝒏𝒏𝒚 𝑶𝒑𝒕𝒊𝒄𝒂𝒍, 𝑴𝒆𝒏𝒆𝒙, 𝑳𝒊𝒕𝒆𝒐𝒏, 𝑪𝒐𝒘𝒆𝒍𝒍, 𝒂𝒏𝒅 𝑸-𝒕𝒆𝒄𝒉. These players have adopted competitive strategies, such as innovation, new product development, and market expansion to boost the growth of the market.

The growth in ADAS and automated driving makes way for a lucrative opportunity for market growth. ADAS utilizes image sensors to provide safety features such as lane-departure warning, parking assistance, and collision avoidance systems. The automated driving and ADAS systems largely benefit from the digital still camera manufacturers and the expertise developed from the mobile camera modules.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐚𝐜𝐭 𝐂𝐚𝐦𝐞𝐫𝐚 𝐌𝐨𝐝𝐮𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭:

- The image sensor sub-segment accounted for the highest share in 2017.
- The consumer electronics sector dominated the market in 2017 owing to increased adoption of smartphones.
- Asia-Pacific dominated the global compact camera module market in 2017, owing to the presence of a huge number of manufacturers. Further, China accounts for a major percentage of the regional revenue.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/4645

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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