The global image sensor market is predicted to touch USD 34.64 million at a 7.02% CAGR between 2018- 2025 states the recent Market Research Future (MRFR) analysis. Image sensor, simply put, is a photosensitive electronic device that converts light signals into digital signals. It has wide applications in medical, surveillance, automobile, consumer electronics, and others.
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Various factors are propelling the global image sensors industry share. As per the current MRFR report, such factors include demand for lower power consumption, camera-enabled phone, increasing use on biometric applications, CMOS image sensor’s compactness, growing use in industry quality control for improving product yield and spotting detective units in product lines, and innovations in technology. Additional factors adding market growth include new product launches, product development and upgrades, and increasing use in optical mice, virtual keyboards, video-conferencing applications, camcorders, and biometrics.
On the flip side, the huge power consumption of such sensors, the falling market of digital still cameras, and disruptions in the supply chain due to the ongoing COVID-19 outbreak are factors that may limit the global image sensor market growth over the forecast period.
Leading players profiled in the global image sensor market report include Teledyne Technologies (US), SK Hynix Inc. (South Korea), GalaxyCore Inc. (China), PixArt Imaging Inc. (Taiwan), ON Semiconductor (US), OmniVision Technologies Inc. (US), Samsung Semiconductor Inc. (South Korea), and Sony Corporation (Japan) among others.
The MRFR report provides an inclusive segmental analysis of the global image sensor market report based on technology, optical format, spectrum, and application.
By technology, the global image sensor market is segmented into sCMOS, CCD, CMOS, and others. The CMOS segment is again segmented into back-side illumination, front side illumination (FSI), and others. Of these, the CMOS technology will lead the market over the forecast period.
By optical format, the global image sensor market is segmented into non-linear and linear. The linear segment is again segmented into 3D and 2D processing. Of these, the 3D processing segment will dominate the market over the forecast period.
By spectrum, the global image sensor market is segmented into invisible spectrum and visible spectrum. Of these, the visible segment will have a major share in the market over the forecast period.
By application, the global image sensor market is segmented into medical, surveillance, automobile, consumer electronics, and others. The surveillance segment is again segmented into home security, drones, border security, night surveillance, and commercial security. The medical segment is segmented into ophthalmology, dermatology, dental, surgery, and endoscopy. The others segment is again segmented into ITS, machine vision, biometrics, banknote recognition system, image scanning, copier scanning, barcode scanning, aerospace, and virtual reality in gaming devices. Of these, consumer electronics will spearhead the market over the forecast period.
Market Research Analysis:
Based on the region, the global image sensor market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. Growing research & development activities, rapid industrialization, increasing use in the automotive industry for safety-related mandates owing to increasing accidents are adding to the global image sensor market growth in the region.
The global image sensor market in Europe is predicted to hold the second-largest share over the forecast period. The presence of emerging economies such as Spain, Italy, Russia, Benelux, France, Germany, and the UK is adding to the global image sensor market growth in the region.
The global image sensor market in the APAC region is predicted to grow at a fast pace over the forecast period. Increasing investment of top industry players is adding to the global image sensor market growth in the region.
The global image sensor market in the RoW is predicted to have sound growth over the forecast period.
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