Image Sensor, as going by the trend, can gain inspiring growth in the foreseeable future. The global Image Sensor market 2020 is expectant with attaining a CAGR of 7.02%, all through the anticipated growth period, reveals Market Research Future (MRFR) in an elaborate study. The market also displays the ability to attain a higher valuation of USD 34.64 million by 2025 in the same forecast period than it gained in 2018 which as USD 21.94 million.
Market Scope & Trends
The global Image Sensor Market, in the past years, has qualified a noticeable growth, wherein the existing time, it has been studied that during the assessment period, the global market will persist with growing at a higher rate. The factors that are being influential are the beneficiaries it offers, such as higher image quality, superior frame rate, dynamic range along with reduced noise, lower dark current, and low power dissipation. Due to these features, the demand for image sensors has been increased since the past years that have made it expand in such a substantial CAGR in the present.
At the same time, the image sensors are also significantly used in digital cameras and imaging devices to perceive the attributes of an image and provides essential information regarding the image. While, other applications of image sensors such as optical coherence tomography, sensing, UV spectroscopy, machine vision, and sorting inspection have made it more reliable, thus resulting in high growth of the market. All these factors have primarily made the market progressive such as it has now had the capability to capitalize double-digit in the assessment period.
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On the other hand, the rising penetration of image sensors in automobiles, the trend of miniaturization as well as a dual-camera in Smartphones and Tablets along with demand for improved medical imaging solutions are also assisting the market with substantial growth all through the forecast period.
As an add-on, the emerging trend in the image sensor market is its application in various industries at a global level. In the case of point, Sony Corporation has come up with a lucrative image sensor division that has been emerged as a profitable business and critical focus area. Even DSLRs cameras from manufacturers like Nikon and Sony’s popular cameras are fueling semiconductor business. In the same line, Samsung also developed its advanced pixel technology in CMOS image sensor known as ISOCELL, thus meeting with the growing demand for image sensors in mobile imaging, high-end photography, and surveillance application.
On the flip side, the issue of high prices of the manufacturing process might come up as an essential restraining factor for the image sensor market’s growth during the estimated period.
The prominent players in the image sensor market are Sony Corporation (Japan), Samsung Semiconductor Inc. (South Korea), OmniVision Technologies Inc. (US), ON Semiconductor (US), PixArt Imaging Inc. (Taiwan), GalaxyCore Inc. (China), SK Hynix Inc. (South Korea), and Teledyne Technologies (US).
The world of the global image sensor market has been segmented by the elements of technology, optical format, spectrum, and application.
In terms of technology: CCD, CMOS, sCMOS, and others are the segments. Of which, CMOS is more segmented into back-side illumination, front side illumination (FSI), and more.
In terms of optical format: Linear and non-linear are the segments. Wherein, linear has also been fragmented into 2D processing and 3D processing.
In terms of the spectrum: Visible spectrum and invisible spectrum are the segments.
In terms of application: Consumer electronics, surveillance, medical, automobile, and others are the segments. Of which, surveillance has also segmented into night surveillance, commercial security, drones, border security, and home security. Medical is also bifurcated into surgery, endoscopy, dermatology, dental, and ophthalmology.
Market Research Analysis:
By region, the global image sensor market has been spanned across the regions of Asia-Pacific, North America, Europe, and the rest of the world.
Among these regions, the region of Asia-Pacific might lead the image sensor market during the forecast period owing to the occurrence of prime global players. Japan-based car manufacturers such as Toyota Motor Corporation and Nissan Motor Company Ltd are incorporating superior driver assistance systems (ADAS) that offer automatic headlight dimming, collision avoidance systems, parking assistance, and lane departure warning. ADAS uses image sensors to detain entire outside world images to help the drivers and minimizing the chances of accidents while driving.
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