So, what is on the cool technology docket for 2016? Some exciting new products will be coming onto the market, many of which will include connectivity and embedded cameras, ready for connecting to the internet of things (IoT). We are thrilled that cameras are becoming more prevalent, and indeed, significant growth is projected in the compact camera module (CCM) market. The demand for thinner devices and higher quality cameras, as well as the now-essential automotive camera, are driving the market.
According to a new report by Yole Developpment (Lyon, France), the compact camera module market is likely to more than double by 2020, reaching $51 billion. Currently, mobile phone cameras account for 73% of the market. The automotive camera market is swiftly growing and will soon take over as second most prevalent in the market, expected to grow at a CAGR of 36%, and should reach $7.9B by 2020.
What else is driving growth? New technology shifts. In burgeoning areas such as 3D, computational, motion, and infrared cameras, multiple sensors, projectors, and others, high quality optics are required. Due to these shifts, the camera module will ultimately become the go-to product for multi-sensing.
Finally, in a boon to Kasalis’ area of the market, the assembly portion of the industry, Yole projected a compound annual growth rate (CAGR) of about 20% (image below). That’s great news, and we hope to embrace and evolve with these burgeoning shifts toward multi-sensing technologies throughout the next five years and beyond.