The global camera modules market size is projected to grow from USD 31.5 billion in 2020 to USD 44.6 billion by 2025, at a CAGR of 7.2%. Major factors driving the growth of the camera modules industry include increasing trends of multi camera-based smartphones, rising public safety, and security concerns led to the adoption of surveillance, technological advancements in components of camera modules for its integration in devices, and rising demand for ToF camera in smartphones.
Major players in the camera modules industry include LG Innotek (South Korea), Sunny Optical Technology (Group) Company Ltd. (China), Sharp Corporation (Japan), Samsung Electro-Mechanics (South Korea), OFILM Tech Co., Ltd. (China), ams (Austria), Chicony Electronics Co., Ltd. (Taiwan), MCNEX Co. Ltd. (South Korea), Primax Electronics Ltd. (Taiwan), Q Technology (Group) Company Ltd. (China), CammSys Corp. (South Korea), Cowell (China), e-con Systems (US), Haesung Optics (South Korea), Jenoptik (Germany), Kyocera Corporation (Japan), Leopard Imaging Inc. (US), Luxvisions Innovation Limited (Taiwan), Partron Co., Ltd. (South Korea), Shenzhen CM Technology Company Ltd. (China), and Truly Opto-Electronics Ltd. (China).
These players have adopted various growth strategies, such as product launches and developments, expansions, acquisitions, and agreements, partnerships, and collaborations, to expand their presence in the camera modules market. Product launches have been the most dominating strategy adopted by key players from 2017 to 2019, which helped them strengthen their product portfolio and broaden their customer base.
LG Innotek (South Korea) secured the first rank in the camera modules market in 2019. It operates in 4 reportable segments—Optical Solution Business, Substrate and Material Business, Automotive Component and Electronics Business, and LED Business. The optical solution business segment offers ultra-slim and ultra-high-definition cameras and three-dimensional recognition modules for smartphones and tablet PCs, and cameras for vehicles, and IoT. The camera module offered by the company features autofocus and image stabilization based on Voice Coil Motor (VCM) technology. The substrate and material business include High-Density Interconnection (HDI), semiconductor substrates, tape substrates, and photomasks that are applied to smartphones, tablet PCs, laptop computers, and LCD/OLED TVs. The automotive component and electronics business provide motor, sensor, automobile communication and camera, electronic shelf label, Wi-Fi modules, and others. The LED business offers LED light, backlight units, and others. LG Innotek Poland Sp. Z O.o. and LG Innotek Vietnam Haiphong Co., Ltd. are the subsidiaries of LG Innotek. The company operates in APAC, Europe, and North America.
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Sunny Optical Technology (Group) Co., Ltd. is one of the leading Chinese manufacturers of optical components and products. The group engages in the design, research, development, manufacture, and sales of optical and optical-related products. Sunny Optical Technology (Group) Co., Ltd. operates through 3 segments—Optical Components, Optoelectronic Products, and Optical Instruments. The Optical Business manufactures and sells lenses and lens module. The Optoelectronic Business produces cell phone camera modules and photoelectric vision products. The Instrument Business includes a microscopic, analytical, and surveying instrument. In the camera modules market, the group offers cell phone camera modules that include wide FoV module, AF module, array camera, and ultra-high resolution module. It has also developed various kinds of surround view, front view, and in-car automotive camera modules and has initiated mass production. Some of the group’s subsidiaries include Ningbo Sunny Automotive Optech Co., Ltd. (China), Xinyang Sunny Optics Co., Ltd. (China), Shanghai Sunny Yangming Precision Optics Co., Ltd. (China), and Zhejiang Sunny Optical Intelligence Technology Co., Ltd. (China).
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