While 2020 is being an incredibly action-packed year for Stacked CMOS Image Sensor due to COVID-19 breakthrough, the Stacked CMOS Image Sensor Market 2020 analysis is broadcasting some positive instincts, when studied by Market Research Future. As per COVID-19 impact analysis, the market has the potential to show enormous growth been recorded at an elevated rate. Further, it has also shown the capability of reaching a towering valuation by 2022 (forecast year) as the period has been approximately calculated from 2018.
Stacked CMOS Image Sensor Growth Attributes
The prime factor studied by MRFR contributing to the growth of the Stacked CMOS Image Sensor technology Market is the implementation of the image sensor in various sectors such as consumer electronics, automotive through immense technological innovations and features such as data safety being one of them. The study even mentioned that the mounting demand for tablets and smartphones has been widely expected to boost the stacked CMOS image sensor market over the forecast period.
Other than these, more factors such as application of stacked CMOS image sensing devices for rising consumer preference for smartphones and tablets, indoor navigation, and more along with new adoption of technologies are reasons highly contributing to the growth of the overall stacked CMOS image sensor market. More prominently, the rising adoption of Smartphones with inbuilt front and back cameras has accelerated the growth of the consumer electronics market and thus benefitted the stacked CMOS image sensor market as well.
On the other hand, the innovation of self-driving cars and advancement in driver safety with the help of ADAS has fueled the expansion of the automotive application. The ability of stacked CMOS image sensor to perform in various lighting conditions such as darkness, dim light, and low light has also boosted the implementation of CMOS image sensors for security purposes, thereby supporting the stacked CMOS image sensor for security & surveillance.
On the contrary, the factor of the surge in the price of the materials has become an issue for the manufacturers to invest in the market, which might hamper the growth of the market over the assessment period.
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The global stacked CMOS image sensor market is segmented among specification and application.
By the segment of specification, the market includes image processing type, spectrum and array. Among these, the image processing type segment has further included a 2D image sensor and 3d image sensor. The spectrum segment includes visible and non-visible. In the last, array segment includes a linear image and area image.
By the segment of the application, the market included consumer electronics, automotive, industrial, aerospace & defence, media & entertainment and security & surveillance.
Regionally, North America grabbed the largest market share majorly owing to focus on innovations, adoption of new technologies and high investments for the new technologies.
Asia-Pacific region might inflate over the forecast period majorly for easy availability of cheap labour, rising demand for consumer electronics and manufacturing hub. Consumer electronics is the prime market in Asia-Pacific, whereas the automotive application is liable to grow at a high CAGR. The primary reasons driving the growth of APAC in the CMOS image sensor market is the substantial users for webcams, mobile devices, and tablet PCs. Some major companies such as Samsung Electronics Co., Ltd (South Korea), Sony Corporation (Japan), SK Hynix Inc. (South Korea) and Sharp Corporation (Japan) are present in this region.
The vendors in the global stacked CMOS image sensor market include Panasonic Corporation (Japan), Sony Corporation (Japan), SK Hynix Inc. (South Korea), Canon Inc. (Japan), Samsung Electronics Co., Ltd. (South Korea), STMicroelectronics N.V. (Switzerland), OmniVision Technologies Inc. (U.S.), Sharp Corporation (Japan), and Galaxy Core Inc. (China).
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