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A recent analysis of Marketsandmarkets reports that the global camera module market is set to grow with a CAGR of 11.2% during the forecast period of 2020 to 2025. There is a high demand for camera based devices such as Smartphones, tablets and other devices which is contributing to this growth. Further, the report also mentions the increasing trend of using dual cameras in smartphones as a reason behind the growing market.
Points worthy of reporting:
It is estimated that between the years 2020 and 2025 the global camera module market will grow at a compound annual growth rate of 11.2 percent.
Growth is fueled by a high need for imaging devices incorporated in smartphones, tablets amongst other devices.
The market growth is relatively high as a result of the prevalence of dual camera systems in modern smartphones.
