New York, US, March 29, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Image Sensor Market Research Report: By Technology, Optical Format, Linearity, Spectrum, Application- Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 39 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 9.6%. during the assessment timeframe.
Image Sensor Market Insights:
The automatic image sensor is a sophisticated and contemporary photosensitive electrical device that quickly and easily transforms light inputs into digital signals. The two most often used image sensors are complementary metal-oxide-semiconductor (CMOS) advanced sensors and charged coupled device (CCD) sensors. The market for image sensors is enormous.
These image sensors are designed to provide clients with greatly improved image quality, exceptional frames at a reasonable price, dynamics, and modern range along with decreased or lessened noise, decreased or diminished dark current, and extremely decreased power consumption. Modern digital cameras and other imaging technologies generally use high-quality image sensors to capture the fundamental characteristics of a good image and produce pertinent or important information about the advanced image. Other contemporary uses for image sensors include enhanced sensing, U.V. spectroscopy, optical coherence tomography, sorting inspection, and numerous machine vision applications.
The market share for image sensors is rising. The market for image sensors is predicted to be driven by the market penetration of image sensors in autos, the trend towards miniaturisation in many industries, the contemporary twin cameras in Smartphones and advanced tablets, and the high demand for upmarket medical current imaging solutions. Moreover, it is anticipated that during the estimated period, the image sensor market would be restrained or constrained by rising prices for advanced manufacturing processes.
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The prominent players in the image sensor market are
- Sony Corporation (Japan) Limited
- Samsung Semiconductor Limited. (South Korea)
- Omni Vision Technologies Limited
- PixArt Imaging Limited (Taiwan)
- S.K. Hynix Inc. (South Korea) Limited
- Teledyne Technologies (U.S.) Limited.
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 39 Billion |
| Growth Rate | CAGR of 9.6% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Increasing demand for advanced camera-enabled mobile phones, reduced power consumption and increased compactness of CMOS image sensor. |
| Key Market Drivers | Rapid industrialization and growing research and development activities. Growing need for high-definition image capturing devices. |
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The diverse applications of image sensors in contemporary industries are among the market's various emerging trends. For a different lucrative image sensor business, companies like Sony Corporation have now emerged as a completely separate corporation.
The company's most recent and most lucrative line of business is the image sensor, which is also their primary area of focus. The multipurpose usage of simple image sensors in contemporary smartphones and sophisticated DSLR cameras from various manufacturers, such Nikon Limited and Sony Corporation, are some of the elements contributing to the modern semiconductor industry's significant profitability. Samsung is putting a lot of effort into developing its new cutting-edge pixel technology, known as ISOCELL, in the vast field of CMOS image sensors.
The primary drivers of the image sensor market's expansion include the rising demand for mobile devices with high-tech cameras, the CMOS image sensor's modern, low-cost power consumption and increased compactness, as well as the expanding use of various image sensors and CMOS image sensor biometric applications. As a result, it is anticipated that the global market for image sensors will grow by more than 8.20%, about (2022 -2030). Yet among other major issues that are impeding or limiting the growth of the image sensor market are the high power consumption of certain CCD image sensors and the declining market for various digital still cameras.
Many reasons are supporting the growth of the worldwide image sensors industry share. According to the most recent MRFR report, there are numerous factors that are influencing image sensor size, including the need for continuously lower power consumption, modern camera-enabled phones, growing use of various biometric applications, the compactness of CMOS advanced image sensors, growing use in various industries for quality control to improve product yield, and various spotting detective units in various product lines. The growth rate of camera image sensors has been significantly slowed down by the COVID-19 epidemic, and the major profit share of the corporations has been steadily declining. The entire supply chain has been hampered by COVID19. Long-term lockdown had a negative impact and was bad for the companies' morale.
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The significant power consumption of image sensors, the steadily declining market for contemporary digital still cameras, and the numerous supply chain disruptions caused by the ongoing COVID-19 outbreak are the main factors that could restrain or limit the growth of the global image sensor market over the projected period. The size of the picture sensor is greatly increasing due to numerous variables. The businesses use cutting-edge methods to plan and carry out their ongoing commercial activities. The size of the market, worldwide technological trends, capital investments, and other factors are just a few that have an impact on the expansion of the image sensor market research.
Image Sensor Market Segmentation:
Image sensor market is segmented on the basis of technology, optical format, linearity, spectrum, application, and region.
By Technology, the market is segmented into CMOS, CCD, sCMOS and others.
By Optical Format, the market is segmented into 1/10 to 1/6 Inch Image Sensor, 1/5.9-to-1/4-inch Image Sensor, 1/3.9-to-1/2-inchx Image Sensor, 1/1.9 to 1 inch image sensor and Above 1 inch Image Sensor.
By Linearity, the market is segmented into Linear and Non-Linear.
By Spectrum, the market is segmented into Visible Spectrum and Invisible Spectrum.
By Application, the market is segmented into Consumer Electronics, Automobile, Surveillance, Medical and others.
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By Region, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the World.
During the anticipated period from 2019 to 2024, the global image sensor market is anticipated to grow significantly. The market for image sensors is broken down geographically into North American nations, European countries, Asia-Pacific countries, and the rest of the world. Due to the concentration of major international players in Asia-Pacific, the region is anticipated to dominate the expanding NEMS market throughout the projected decade.
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