According to the recent business intelligent report by IndustryARC, the global image sensors market size was in the range of $15 billion to $17 billion as of 2018. The market is projected to grow with an outstanding CAGR of around 8% to 9% during the forecast period of 2019 to 2025. Furthermore, APAC is positioned as the leading region with market share of around 35% as of 2018.
The image sensor, also known as an imager, is a solid-state device that is an integral component of the machine vision camera. The main purpose of image sensors is to convert the incoming light (photons) into an electrical signal, which gets recorded as the video. It can be analyzed, viewed or stored in the storage device. Image sensors are used in electronic imaging devices such as camera modules, digital cameras, medical imaging equipment, and night vision equipment including thermal imaging devices. The types of sensors used in the market are semiconductor charged-coupled devices and Complementary Metal Oxide Semiconductor (CMOS) image sensor is further segmented as passive and active pixels sensors.
Global Image Sensors Market: Growth Drivers
- Medical Applications Increasing the Demand for Image Sensors –
Image sensors are used as an artificial retina or as a support to the damaged human visualization systems. Additionally, it is used for the treatment of the gastrointestinal tract, and the process is known as wireless capsule endoscopy. Capsule consists of the camera, and it is swallowed by the patient. Subsequently, the images are transmitted by digital radiofrequency which is transferred to the computer for later analyses and diagnosis. The growing usage of this technique is creating new revenue avenues for the image sensors market vendors.
- Image Sensors Vendors Gaining Profit from Consumers Electronics
According to the Invest India, Asia Pacific is the fastest growing region for consumer electronics expected to become the fifth largest in the world and it is anticipated to reach $400 billion by 2025. Rising disposable income is a macro factor for increased demand in the market. Dual Camera mobiles phones is gaining attention from large population worldwide. The analyst of IndustryARC estimates that the tangible progression of global image sensor market is attributed to the increasing demand for mobiles. Furthermore, the application of image sensors will be growing with an impressive CAGR of around 9% through to 2025, according to the aforementioned IndustryARC report.
- Image Sensors Bringing a Change in the Security and Surveillance Sector
Imaging systems for security applications such as CCTV have been significantly revolutionizing. Low cost, low power, and smart camera systems have become available for military, government, and also for civilian applications. Recent technological advancement in CMOS sensors can be used efficiently for motion detection, tracking, windowing, and digital zoom. This is a huge factor influencing image sensors market.
Global Image Sensors Market: Disruptive Trends
Key players in the market are developing advanced image sensors with high sensitivity
low noise and high color reproducibility that is gaining high attention from consumers especially from military, banks, hospitals, and education sector. CMOS sensors are already finding their way into automotive industry with advanced driver assistance system (ADAS) capabilities, such as backup cameras, blind spot detection, collision avoidance, lane-departure warnings, gesture recognition, and adaptive cruise control that adjusts to changing traffic conditions.
Some of the major key players in the image sensors market are Sony, Samsung, Omnivision, On Semiconductor, STMicroelectronics, Panasonic, Canon, SK Hynix, Galaxycore, Hamamatsu, Pixelplus, ams, and Sharp.
Image sensors are used to convert the incoming light into an electrical signal, which gets recorded as the video. They also find applications in various sectors such as medical equipment, automotive, and security & surveillance. Dual camera mobiles are gaining high attention from the consumers and helping the electronics industry to bloom. APAC is estimated to be the leading region in the image sensors market. Advancements in image sensors with high resolution and low noise are majorly attracted by the military, education, and healthcare sector which is leading to the image sensors market growth.
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