Camera Module Market Overview
The global CCM market has been ballooning thanks to expeditious penetration of multi-camera phones and advances in automotive ADAS, being worth $27.1 billion in 2018 and projected to be $45.7 billion in 2024, growing at a compound annual rate of 9.1% in between.
Mobile devices still drive the growth of camera modules. Nowadays, single-camera, dual-camera and triple-camera mobile phones prevail globally, of which dual rear camera mobile phones share 40%. However, the upcoming triple-camera, four-camera and five-camera mobile phones will undoubtedly beat dual-camera ones, and triple-camera and four-camera phone models will become the mainstream alongside the burgeoning demand for mobile phone camera modules.
The world camera module market is now firmly held by Sunny Optical, O-Film, LG Innoteck, LUXVISIONS, etc. O-Film has become the mainstream supplier of dual-camera and multi-camera modules in the industry by its self-developed AA focusing process, highly automated production lines and mass-production competence, delivering 6.6 billion camera modules and leading the pack worldwide in 2019. As smartphone market maturation is creating a high competition environment in which cameras play a central role maintaining the momentum of the CCM industry, the industry is slowly moving toward consolidation.
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