Smartphone Camera Market: Current Analysis and Forecast (2024-2032)

Smartphone cameras have emerged as an important feature for mobile devices, which identify the market, affect the consumer's decision-making process, and prompt growth. As the focus on photographic and video also continues to expand manufacturers are continuing to endow their devices with cutting-edge features such as multiple lenses, advanced motion sensors, and AI capabilities to improve the quality of the image and the use of the device. Smartphones have evolved in from casual users to professional, social media influencers, and amateur photography and photography enthusiasts. Mainstream consumer expectations for clearer and more versatile photographs, thicker competition between brands, brand imperishable sustenance vigorous increase in the field of low light performance, high-quality video resolution, and special photo shooting modes. Such a dynamic paradigm highlights the importance of the smartphone camera in the overall scheme of a smartphone.

The Smartphone Camera Market is expected to grow at a steady rate of around 7.5% owing to the expanding product portfolio. For instance, in June 2024, Samsung Electronics, a company in advanced semiconductor technology, announced three new mobile image sensors designed for both main and sub-cameras in smartphones: the ISOCELL HP9, the ISOCELL GNJ, and the ISOCELL JN5. Moreover, rapidly increasing technological developments in smartphones, and the rising adoption of camera lenses are leading to the growth of the market and are anticipated to boost the smartphone camera market.

Based on the resolution, the market is segmented into below 8MP, 8-16MP, and above 16MP. The 8-16MP segment held a significant share of the market in the year 2023 owing to the most optimal ratio of performance to price. It provides the consumer with the capacity to capture adequate image quality for ordinary use, particularly for personal use and those who post images on social media platforms. As smartphone manufacturers realize that people want powerful but affordable cameras, engineers incorporate 8 to 16 MP cameras with brightly saturated colors and decent low-light performability into mid-rangers and affordable smartphones. This segment is especially attractive for young people and for individuals who acquire their first smartphone often focusing on affordable offers while not neglecting implicit functionality. Thus, the 8-16MP segment held a significant share of the market in the year 2023.

Based on the camera type, the market is segmented into single-lens, double-lens, and multi-lens. The multi-lens segment is expected to experience significant growth in the forecast period, setting up a growing consumer inclination towards the variety and improvement of lenses' results. In this way, they can provide as many shooting possibilities as possible, different perspectives, and scenes that don't require having extra lenses like wide angle, telephoto, or macro. This trend has been most appreciated by content creators and different social media platform users wanting to enhance their photography and videography work with different angles and effects. Thus, the multi-lens segment is expected to grow at a significant rate in the forecast period among the camera type.

For a better understanding of the market adoption of smartphone camera, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held the majority share of the market in the year 2023 owing to technological changes and good demand for better cameras on mobile phones. While brands consistently find ways to differentiate their products such as multiple lenses, AI-driven photography, and powerful video capabilities today's North American consumer is more and more demanding when it comes to the camera function. The desire for better image and video capabilities has increased due not only to new operating systems but also the emergence of social networks and other forms of content creation which make consumers look for the best image quality for sharing on the Internet. For instance, in September 2024, U.S.-based Apple announced the iPhone 16 which introduces Camera Control, which brings new ways to capture memories and will help users quickly access visual intelligence to learn about objects or places around them faster than ever before. The powerful camera system features a 48MP Fusion camera with a 2x Telephoto option, giving users two cameras in one, while a new Ultra-Wide camera enables macro photography. Next-generation Photographic Styles help users personalize their images, and spatial photo and video capture allow users to relive life's precious memories with remarkable depth on Apple Vision Pro. Thus, amongst areas, North America held a significant share of the market in the year 2023.

Some of the major players operating in the market include Kantatsu Corporation; Leica Camera AG; SONY ELECTRONICS INC.; AAC Technologies; Asia Optical Co., Inc.; LG Innotek; Sunny Optical Technology (Group) Company Limited; Largan Precision Co.,Ltd.; OFILM Guangdong; Samsung.