Image Sensor Market – Overview
The expanding market for smartphones that are fortified with cameras are the chief driving factor for the expansion observed in image sensors. Market reports associated with the semiconductors & electronics sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is projected to develop at a 10 percent CAGR in the duration of the forecast period.
The escalating application of CMOS image sensors in consumer electronics such as mobile phones, tablets, and PC cameras is driving the image sensor effectively. The development of this technology has opened up the market for image sensors leading to increased entry of market competitors which has created the setup for further growth of the market. The smart wearable segment is projected to increase the expansion of the market in the impending forecast period.
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Jul 2018 Sony recently announced the impending release of an image sensor that will be capable of delivering smartphone cameras with 48 effective megapixels. This feature is expected to provide smartphone cameras with higher definition photographs.
Some of the major players in global image sensor market includes Sony Corporation (Japan), Samsung Semiconductor Inc. (South Korea), OmniVision Technologies Inc. (U.S.), Aptina Imaging Corporation (ON Semiconductor) (U.S.), Himax Imaging (Taiwan), GalaxyCore Inc. (China), SK Hynix Inc. (Korea), and STMicroelectronics N.V (Switzerland) among others.
The segmentation of the Image Sensor Market is carried out on the basis of application, array type, technology and operating spectrum. By Application, the segment comprises of tablets, PC camera, mobile phones, automotive, medical imaging, digital still cameras (DSC), and security & surveillance. By Technology, the market segmentation consists of CCD and CMOS among others. By operating spectrum, the market segmentation consists of invisible and visible. By array type, the market segmentation consists of area array type and linear array type.
The active incorporation of supply chain management is gradually enhancing the growth of the market. The critical success factors in the market are easily achieved in the market leading to an elevated pace of development in the forecast period. The enhanced level of importance on the variation of products is raising the number of customers in the market considerably. The extended viability of the market is highly dependent on the techniques and the strategic roadmaps that are engaged by market players. The innovation in products and services of the markets will alter the progression of the market substantially. The market appeal and competitors’ tendencies are noticeably improved by the strategies that are being exploited by market players. The market is significantly elevated by the developments that are occurring in the market.
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Detailed Regional Analysis
The regional analysis of the market for image sensors consists of APAC, North America, Europe and MEA and rest of the world. The North American region is leading the market for image sensor globally with a major market share, and thus accounting high market share above 35% approximately. The Asia Pacific region is anticipated to develop at high CAGR through the forecast period from a value of USD 4 billion in 2016 to USD 8 billion by 2021 approximately. Whereas, the European market for image sensors is likely to expand at above 5% CAGR approximately in the forecast period.
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