Which are the potential applications for camera modules for next 5 years?
Consumer electronics application to lead the market while automotive is expected to have the highest CAGR during the forecast period. Consumer electronics products such as smartphones, tablet PCs, and wearables undergo rapid technological advancements. Along with the increasing competition in the consumer electronics industry, growing demand from end-use consumers is driving the advancements in different components such as camera modules. Smartphones are the major product to contribute significantly.
What major factors that would provide opportunity for the market?
Major opportunities in the market include government initiatives pertaining to increase safety level in vehicles leading to the adoption of ADAS, the emergence of autonomous vehicles, growing applications of AR & VR devices
Will automotive application play important role for camera modules for next 5 years?
The automotive sector holds high growth opportunities for the camera modules market after consumer electronics application and is expected to grow at the highest CAGR. Factors accounting for the significant growth and share of automotive applications in camera modules market include the adoption of ADAS in vehicles by different automobile OEMs, government mandates to introduce advanced safety features in vehicles, increasing level of vehicle autonomy, and increasing demand for various safety features in vehicles from end-users
Which are the major companies in the market? What are their major strategies to strengthen their market presence?
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), are among few major players in the market. Partnership and collaborations, product launches are some of the important strategies in the market followed by players to strengthen their presence.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.