26th December 2019 – The global Image
Sensor Market size is expected to value at USD 26.41 billion by 2024.
The market is subject to witness a substantial growth due to the growing demand
for the miniature pixel devices offering superior resolution and cost
efficiency. The image sensors are adopted to limit the natural light
degradation and offer enhanced image quality. Standard quality images can only
be achieved by reducing pixel size. Globally, the image sensor industry is
predicted to display higher CAGR in the forecast period, providing numerous
opportunities for market players to invest in research and development of the
image sensor technology.
The recent technological advancement in
electrical & electronic industry coupled with development of novel
technologies & products such as flat panel detectors and CCD technology are
expected to stimulate the growth of image sensor market in the upcoming years.
Increasing demand form automotive industry for image sensors is predicted to
boost market growth over the forecast period.
Growing investment by industry
participants in the research & development activities to gain competitive
edge over their counterparts is anticipated to favor market expansion in the
near future. Development of cost-effective, compact, high performance and
energy efficient sensors are propelling the growth of image sensor industry as
well. Incorporation of miniature image sensors in various handheld electronic
devices such as smartphones and digital cameras is gaining positive traction
among end-users.
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Soaring demand for image sensors from
surveillance & security sector owing to the prevalence of terrorist
activities and theft, thus bolstering market growth in the recent years.
Increasing adoption of image sensors to carry out surveillance & security
in public areas such as public parks, public squares, malls, and railway stations
is expected to positively affect market growth in the upcoming years.
Growing demand of high better resolution
cameras for security and surveillance from defense sector has led to the
increasing investment by governmental authorities for development of advanced
technologies. However, vast competition in the market coupled with higher cost
of the products are expected to restrain market growth to a certain extent. In
addition, the pouring demand for cell phones and digital still cameras is
leading to shortages of devices such as lenses and picture sensors, thereby
hampering market performance. Volatility in the prices of raw semiconductor
material and the dynamic nature of business are negatively affecting market
growth over the forecast period as well.
The image sensors market is broadly
categorized into two major segments based on types of technology such as CMOS
(complementary metal–oxide–semiconductor) technology and CCD (charge-coupled
devices) technology. The CMOS (complementary metal–oxide–semiconductor)
technology is considered as one of the fastest growing segment in the image
sensor industry with substantial revenue generation in the last couple of
years. Growing popularity of the generated the CMOS (complementary
metal–oxide–semiconductor) technology segment is attributed to advantages
associated to with its early adoption such as compact nature, low power
consumption, and cost-effectiveness.
Application of the CMOS technology
include static RAM, microprocessors, microcontrollers, and other analog circuits.
The CCD (charge-coupled devices) technology segment also witnessed massive
growth in the last couple of years due to the lower-cost and lower power
consumption.
The image sensor market is divided by
region as North America, Europe, Asia-Pacific, Latin America and Africa. North
America has shown major growth in recent years owing to the rise in the
implementation of latest technologies in automotive sector, increase in the
adoption of high-end luxury vehicles, and existence of well-established industrial
infrastructure in the region. Asia-Pacific region is predicted to hold major
market share in the image sensor with massive growth in forecast period.
Countries such as India, China and Japan
are leading the Asia-Pacific market with strong economic growth, rapid
industrialization, rising infrastructure development, favorable government
initiatives and significant investment by leading industry players considering
potential growth opportunities in the region. The key players in the image
sensors industry are Sony Co., Panasonic Co., STMicroelectronics N.V., Canon,
Inc., and Samsung Electronics Co., Ltd.
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