Market Research Future (MRFR), in its latest research report, asserts that the global image sensor market is flourishing and expected to grow exponentially by 2022, registering a striking CAGR throughout the forecast period 2015-2022. MRFR also predicts that the Image Sensor Market might reach approximately USD 34.64 million by 2025, registering about 7.02% CAGR throughout the period.
Drivers and Restraints
An image sensor is one of the most profitable businesses and critical focus areas in the semiconductor industry. The semiconductor business is highly lucrative owing to the multipurpose utilization of image sensors in smartphone and DSLRs cameras from major manufacturers. The evolving trend in the Image Sensor Market is its application in numerous end-use industries.The companies are striving steadfastly to meet the growing demand for image sensors in mobile imaging, high-end photography, and security and surveillance application. The rising penetration of image sensors in automobile vehicles, the increasing trend of miniaturization, and dual camera in the latest Smartphones and Tablets and demand for enhanced medical imaging solutions are poised to fuel the image sensor market during the review period. On the other hand, the high prices of the manufacturing process are expected to hinder the image sensor market during the forecast period.
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The global market for image sensors is segmented on the basis of component, technology, optical format, spectrum, and application.
- ON The Basis Of The Technology, the market has been segmented into CMOS, sCMOS, CCD, and others. CMOS is further segmented into back-side illumination, front side illumination (FSI), and others.
- Based On The Optical Format, the market has been bifurcated into linear and non-linear. The linear segment has been sub-segmented into 2D processing and 3D processing.
- On The Basis Of The Spectrum, the market has been bifurcated into the visible spectrum and invisible spectrum.
- Based On The Application, the market has been divided into the automobile, medical, consumer electronics, surveillance, and others. Surveillance has been further segmented into night surveillance, commercial security, drones,border security, and home security. Medical has been sub-segmented into surgery, endoscopy, dermatology, dental, and ophthalmology. The other section has been further divided into virtual reality in aerospace, gaming devices, barcode scanning, image scanning, copier scanning, banknote recognition system, machine vision, biometrics, and ITS.
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).
Market Research Analysis:
Regional analysis for the image sensor market in different geographic regions such as North America, Europe, Asia-Pacific and the Rest of the World. The North America region is the prominent regional market in the image sensor market due to advanced technological implementation in the security system. The European region is poised to grow at a slow pace in the image sensor market since it has reached a mature growth in the past years. Increase demand from citizens regarding security issues and investment by the government in the image sensor market is fueling the market in the region. Europe region is facing frequent terror attacks that enable government and security agencies to implement advanced and robust security equipment to combat foreign attacks. The protection of citizens in the region and across the border has risen the need for advanced security surveillance gadgets. Asia-Pacific region is the fastest-growing regional market in the image sensor market owing to improved infrastructure development from developing countries such as China and India that is driving the market growth in the foreseeable future. Increasing urbanization, image sensor business expansion across emerging economies, and industrial developments are driving the growth of the image sensor market in the region.
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