New York , Feb. 14, 2024 (GLOBE NEWSWIRE) -- The global image sensor market size is slated to expand at 11% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 76 billion by the end of 2036, up from a revenue of USD 22 billion in the year 2023. The market growth is driven by the emerging use of image sensors in healthcare. In healthcare, image sensors are being used for medical imaging, including X-rays, CT scans, and ultrasounds. For instance, the handheld X-ray system from United Imaging Healthcare provides accurate 3D breast imaging while offering high breast biopsy efficiency. These sensors enable high-quality imaging with a low radiation dose, making them a safer and more effective alternative to traditional imaging methods.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-5406
In addition, as the demand for higher resolution in electronic devices increases, image sensor manufacturers are working to develop image sensors with smaller sizes but higher resolution, which is more cost-effective. This is expected to drive the growth of the image sensor market over the forecast period. The integration of AI and machine learning in imaging applications is transforming the capabilities of image sensors, enabling features like facial recognition, scene analysis, and object detection. Applications such as high-end smartphones, digital cameras, and professional video recording equipment are pushing the demand for image sensors with resolutions exceeding traditional standards.
Image Sensor Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- The CMOS sensor segment to garner the highest growth
- Market in North America to grow at a highest rate
Increasing Advancements in Camera Technology across the Globe to Boost Market Growth
The development of smaller, more efficient sensors has allowed for the creation of smaller cameras with higher resolution and better image quality. This has led to an increase in demand for cameras in a variety of industries, including smartphones, tablets, and digital cameras. The introduction of CMOS image sensors has revolutionized the camera industry. These sensors are smaller, consume less power, and are less expensive to produce than CCD sensors. Recent advancements in camera technology have also led to the development of 3D imaging. A variety of applications, including virtual reality, gaming, and medical imaging, can benefit from this technology. Moreover, the use of artificial intelligence in camera technology has also been a major driver of growth in the image sensor market. AI-powered cameras are able to analyze images in real-time, allowing for the creation of smart cameras that can detect and respond to specific events or situations. The rise of social media has significantly impacted the market. According to a detailed analysis, 6.2% of the world's population is using social media as of October 2023, totaling 4.90 billion users. With the increasing use of social media platforms such as Instagram and Snapchat, there has been a growing demand for high-quality cameras in smartphones and other mobile devices.
Image Sensor Industry: Regional Overview
The global image sensor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Proliferation of Smartphone Adoption to Drive the Market Growth in Asia Pacific Region
The image sensor market in Asia Pacific region is estimated to garner the largest revenue by the end of 2036. The explosive growth in smartphone adoption across the Asia Pacific region has been a pivotal driver for market. As consumers increasingly demand high-quality camera capabilities in their mobile devices, the need for advanced image sensors has surged. The increasing adoption of Advanced Driver Assistance Systems (ADAS) in the Asia Pacific automotive sector has driven demand for image sensors, playing a crucial role in enhancing vehicle safety. The Asia Pacific region is witnessing substantial growth in the automotive sector, with a 6.6% growth in the ADAS industry. Countries like China are witnessing a surge in the deployment of industrial robots across various sectors, including manufacturing, logistics, and healthcare. Image sensors are essential components for these robots, enabling tasks such as object detection, quality control, and navigation.
Robust Demand in Consumer Electronics to Propel the Growth in the North America Region
The North America image sensor market is estimated to garner the highest CAGR by the end of 2036. The North American region, particularly the United States, exhibits a strong appetite for consumer electronics, including smartphones, digital cameras, and smart home devices, which significantly contribute to the demand for image sensors. The industrial landscape in North America is characterized by an increasing reliance on automation and robotics, driving the demand for image sensors in machine vision systems. The International Federation of Robotics (IFR) notes that North America is one of the largest markets for industrial robots, with over 300,000 units installed in 2020. Manufacturing facilities are deploying machine vision solutions for quality control, defect detection, and production optimization. Image sensors, with their ability to capture and process visual data, are integral to the success of these applications, fostering growth in the image sensor market.
Make an Inquiry Before Buying this Report @ https://www.researchnester.com/inquiries-before-buying-5406
Image Sensor Segmentation by Technology
- CCD Sensor
- CMOS Sensor
Amongst these segments, the CMOS sensor segment is anticipated to hold the largest share over the forecast period. The ubiquity of CMOS sensors in consumer electronics, particularly smartphones, has been a cornerstone of their growth. These sensors have become integral to delivering high-quality images and advanced camera functionalities to meet the demands of modern consumers. A report states that over 80% of smartphones shipped globally in 2020 were equipped with CMOS image sensors. Smartphone manufacturers leverage the benefits of CMOS technology, such as low power consumption and compact design, to enhance camera capabilities. As consumers increasingly prioritize smartphone camera performance, the adoption of CMOS sensors continues to rise, fostering growth in the consumer electronics sector. The automotive industry's push towards advanced driver-assistance systems (ADAS) and autonomous driving technologies has propelled the demand for high-performance CMOS sensors in vehicles. CMOS sensors offer advantages like faster readout speeds and lower power consumption, making them ideal for applications such as lane departure warning, parking assistance, and adaptive cruise control. The growth in automotive imaging applications is driving the adoption of CMOS sensors across the automotive sector.
Image Sensor Segmentation by Application
- Consumer Electronics
- Defense
- Healthcare
- Industrial
- Automotive
- Security and Surveillance
Amongst these segments, the consumer electronics segment is anticipated to hold a significant share over the forecast period. Environmental consciousness among consumers has prompted the consumer electronics industry to adopt sustainable practices, influencing product design and manufacturing processes. A survey indicates that 73% of consumers globally are willing to pay more for sustainable products. Brands that prioritize sustainability, using eco-friendly materials and reducing electronic waste, appeal to a growing segment of environmentally conscious consumers. This shift towards eco-friendly practices has become a significant factor influencing purchasing decisions in the consumer electronics market. The gaming industry has become a significant driver of consumer electronics, influencing the design and capabilities of devices such as gaming consoles, PCs, and smartphones. The surge in gaming popularity, driven by both casual and professional gamers, has led to increased demand for high-performance hardware. The consumer electronics segment benefits from this trend, with manufacturers focusing on developing gaming-centric devices and accessories. Advances in display technologies, including OLED (Organic Light-Emitting Diode) and MicroLED, have been pivotal in enhancing the visual experience of consumer electronics.
Image Sensor Segmentation by Processing Technique
- 2D Image Sensors
- 3D Image Sensors
Few of the well-known market leaders in the global image sensor market that are profiled by Research Nester are OMNIVISION, STMicroelectronics N.V., GalaxyCore Shanghai Limited Corporation, ON Semiconductor Corporation, SK hynix Inc., PixArt Imaging Inc., Honeywell International Inc., ABB Limited, Siemens AG, NXP Semiconductors BV., and other key market players.
Recent Development in the Image Sensor Market
- OMNIVISION introduced the OS03B10 CMOS image sensor, which is designed to provide notch digital images and high definition (HD) videos for security surveillance, IP and HD analog cameras. This sensor comes with a 3 MP 1/2.7-inch size.
- GalaxyCore Shanghai Limited Corporation has signed a collaboration agreement with the management committee of Lingang New Area in China’s Shanghai Free Trade Pilot Zone to expand its operations. The company plans to invest in research and development well as manufacturing activities focused on the advanced technology of 12-inch CIS integrated circuits, within the Lingang New Area.
Read our insightful Blogs and Data-driven Case Studies:
- Future of Growing Semiconductor Technologies
Get insight of the developments and trends in the semiconductor technologies by this post. Read our guide to know the advancements from nanotechnology to quantum computing that have significant impact on the industry.
https://www.researchnester.com/blog/technology/semiconductors/growing-semiconductor-technologies
- How a company adapted dynamic smart devices to cope with technological advancements by understanding consumer needs and preferences?
Know how our customized research service helped a company in smart device industry to retain its market leadership. Our experts provided them with market intelligence, consumer research and technological assessment.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
