Westford, USA, Aug. 29, 2022 (GLOBE NEWSWIRE) -- The demand for image sensors is growing rapidly as they become more widely used in digital devices such camera, smartphones, smartwatches, CCTVs, security camera, and fitness tracker, among others. This is due to their ability to capture high-quality images and videos, making them essential for a variety of applications. Supported by large customer bases such as smartphone manufacturers, app developers and camera makers, the image sensor market is expected to grow at a CAGR of over 8.43% throughout the forecast period. The use of image sensors in digital devices has led to increased demand for sensor modules from various suppliers.
This is expected to drive the image sensor market for these components towards the higher end, benefiting players such as Canon Inc., Samsung Electronics Co. Ltd., and Sony Corp. In addition, new applications such as autonomous driving are anticipated to stimulate the demand for image sensors among device manufacturers and system integrators. Among device types, mobile handsets are projected to account for the highest share of overall sensor shipments in 2021 due to rising demand from major handset vendors (Apple Inc., LG Electronics Inc., Huawei Technologies Co., Ltd.) and app developers. Overall, the automotive industry is estimated to be one of the major trends driving the growth of image sensors in the years to come.
SkyQuest published a study on global image sensor market. The study provides detailed insights about market analysis, sales, revenue, shipment of image sensors, top players, market dynamics, trends, technology landscape, opportunities, market forecast, segment analysis by application and devices, among others.
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Mobile Phone Image Sensor Shipment to Reach a Milestone of 6.4 billion Units By 2028
According to a recent study by SkyQuest on the global mobile phone image sensor market, the shipment of image sensor units using mobile phone cameras will reach a milestone of 6.4 billion units by 2028. This is a significant progress when considering that the global mobile phone market was worth $457 billion in 2021 and is projected to attain a value of $755.23 billion by 2028. The image sensor component of mobile phones has played an important role in enabling camera-equipped smartphones to become more commonplace and affordable.
By shipment, top 5 Players including Samsung (20.6%), Omnivision (18.3%), Sony (21.9%), Galaxy Core (27.6%), SK Hynix (10.8%) are held 99% share of global mobile phone image sensor market in 2021.
The growth of the mobile phone market has been fueled by the increasing popularity of camera-equipped devices such as smartphones and compact cameras. In fact, smartphone sales are predicted to grow at a CAGR of around 7.4% in the years to come. This growth is due to increased demand for lower-cost sensors for mobile devices and expanding sales to countries outside of China.
SkyQuest noticed that some of the major producers in the global image sensor market such as Samsung and Sony witnessed a sudden drop in the global demand for image sensor due to covid-19. This, in turn, has resulted into oversupply of image sensor in the market. It has also been found that leading market players such as Samsung, Omnivision, Gaxlaxy Core, and SK Hynix suffered a revenue loss and reduced shipment in the year 2021. To be precise Samsung witnessed YoY revenue loss of around -1.9% and shipment loss of around 0.2%. In addition to this, Omnivision could see a little improvement of revenue of around 2.3%, but suffered 1.6% decline in the overall shipment in 2021. Out study suggests that Sony was only organization in the global image sensor market that could observed a growth of 2.3% and 3.6% in sales revenue and shipments, respectively.
SkyQuest has published a report on global image sensor market. The report would help the market participants in understanding global consumption of image sensor across various devices, their growth rate, top players by end-use, and value and volume of image sensor by each application. In addition to this, the report provides in depth understanding competitive landscape, market share analysis, value chain and supply chain analysis. This would help the market players in gaining edge over competitors by developing growth strategies superior than competitors and sustain the intense competition.
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Gaming and Augmented Realty witnessed 66% in Growth Demand for Image Sensors in 2021
As the gaming industry has gone through an explosive phase, augmented and virtual reality (AR/VR) have also become increasingly relevant in the global image sensor market. With the rise of mobile games that can be played on any device and the on-demand nature of video games, there has been a dramatic increase in demand for image sensors that can track objects in real time. This is fueling growth for gaming and augmented reality technology providers such as AR/VR camera systems, image recognition software and 3D tracking devices.
Gaming and AR are two growing segments of the internet that are expected to experience large growth in the next few years. Gaming is a $219 billion industry, and AR is estimated to reach $267.98 billion by 2028. In order to meet the growing demand for image sensors, various companies in the image sensor market are developing new products and technologies. These include companies such as Analog Devices Inc., Infineon Technologies AG, Ricoh Co., Ltd., and Sony Corporation. Furthermore, technological advancements such as optical image stabilization (OIS), low-light imaging, and micro-lens technology will further increase demand for image sensors in the near future. We expect the demand for image sensor in AR and Gaming increased by 66% in 2021 as compared to last year and is projected to grow at a CAGR of around 23.4% in the years to come. In particular, Augmented Reality has seen a surge in popularity thanks to games like Pokemon GO.
SkyQuest has done thorough research on image sensor market and its current trends, application, and end-user. We have prepared a market research report on its demand, shipment, supply, and providers. The report would help the market participant in gaining insights about industrial growth, demand and supply ratio, top players active in particular application, their production capacity, revenue, growth strategies, among others.
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Key Players in Global Image Sensor Market
- Sony Corporation (Japan)
- Samsung Electronics Co., Ltd. (South Korea)
- OmniVision Technologies, Inc. (US)
- STMicroelectronics (Switzerland)
- ON Semiconductor Corporation (US)
- Panasonic Corporation (Japan)
- Canon Inc. (Japan)
- SK Hynix Inc. (South Korea)
- PixArt Imaging Inc. (Taiwan)
- Hamamatsu Photonics K.K. (Japan)
- Teledyne DALSA Inc. (Canada)
- Ams AG (Austria)
- GalaxyCore Inc. (China)
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