Image sensors are devices used in detecting images and convey information by converting light signals to digital signals. Complementary metal oxide semiconductor (CMOS) and charge coupled device (CCD) are widely used image sensors in digital cameras, imaging devices, and smart devices. The global image sensor market is estimated to reach USD 34.64 million by 2025, according to the latest report by Market Research Future (MRFR). It can exhibit 7.02% CAGR over the forecast period (2019-2025). MRFR employs proprietary primary and secondary research techniques for covering all aspects of the industry and provides prospects to industry leaders for the forecast period.
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The global image sensor market is deemed for explosive growth owing to expenditure in surveillance projects in public places and expendable income levels of citizens in developing and developed countries. Use of cameras in automotive, medical, defense, and industrial applications can drive the market demand over the forecast period. The importance of cameras and increased focus on image quality and resolution in latest gadgets has driven the market demand significantly. Adoption of new cameras in self-driving vehicles, augmented reality, and virtual reality can create new growth opportunities for market players.
The COVID-19 pandemic has negatively affected the value chain of sensor manufacturers. Restrictions on production of smartphones and smart devices are attributed to the declining demand for the market.
But high manufacturing prices of sensors can impede market growth.
By technology, the market has been segmented into CMOS, sCMOS, CCD, and others. CMOS is further segmented into front side illumination (FSI), back-side illumination, and others. The CMOS sensor is projected to hold a major market share due to its implementation in most smart devices and image capturing equipment. Moreover, the sensor has a transistor switch and photodiode that allows it to process data rapidly without any noise.
By optical format, the market has been segregated into linear and non-linear. The linear segment has been further segmented into 2D processing and 3D processing.
By spectrum, the market has been bifurcated into the visible spectrum and invisible spectrum. The visible spectrum segment is likely to lead in the market owing to integration of sensors in tablets, smartphones, and laptops.
By application, the market has been divided into surveillance, consumer electronics, automobile, medical, and others. Surveillance has been further segmented into drones, night surveillance, commercial security, border security, and home security. Medical has been sub-segmented into dermatology, ophthalmology, endoscopy, surgery, and dental. The ‘others’ section has been further segmented into machine vision, virtual reality in gaming devices, aerospace, biometrics, barcode scanning, copier scanning, image scanning, banknote recognition system, and ITS. Among them, the automobile application can dominate the global image sensor market owing to developments in AI and ability to differentiate between objects and humans.
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are major regions covered for outlining the prospects of the global image sensor market.
North America is bound to dominate the global market owing to rapid industrialization and demand for autonomous vehicles, heightened security, and smart devices. Large number of accidents and safety laws deemed to lower the alarming rate can drive the market demand for sensors in the region.
Teledyne Technologies, Sony Corporation, GalaxyCore Inc., SK Hynix Inc., ON Semiconductor, Samsung Semiconductor Inc., OmniVision Technologies Inc., and PixArt Imaging Inc. are prominent players of the global image sensor market. Mergers, acquisitions, product development, and partnerships are growth strategies to be witnessed among players over the forecast period. Miniaturization of cameras and sensors as well as electronic devices is likely to shape the market. Development of proprietary image sensors by key leaders for leveraging on use of smart devices and surveillance equipment can lead to formation of new divisions.
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