New York, US, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Image Sensor Market information by Technology, Optical Format, Linearity, Spectrum, Application and Region – forecast to 2027” the market was valued USD 21.94 million in 2018 to USD 34.64 million approximately by 2025, at an outstanding CAGR of 7.02%.
Dominant Key Players on Image Sensor Market Covered Are:
- SK Hynix Inc. (Korea)
- PixArt Imaging Inc. (Taiwan)
- ON Semiconductor (U.S.)
- Teledyne Technologies (U.S.)
- Sony Corporation (Japan)
- GalaxyCore Inc. (China)
- Samsung Semiconductor Inc. (South Korea)
- OmniVision Technologies Inc. (U.S.)
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Image Sensor Market Drivers
Increasing use in Medical Imaging to Boost Market Growth
The medical diagnostics is an increasing application in the field for image sensors industry. The growing scope for diagnostics in the medical industry is likely to augment the market for medical image sensors that is driven by the applications of image sensors in x-ray imaging and endoscopy. Emerging endoscopy solutions like disposable endoscopes and capsule endoscopy will boost market growth. A rise in therapeutically treated ailments like gastrointestinal diseases and cancer coupled with the increasing patient preference for minimal abrasive surgeries are adding to the market growth.
Opportunities
Increasing Incorporation of High-Resolution Cameras to Offer Robust Opportunities
Increasing incorporation of high-resolution cameras that are equipped with image sensors in mobile devices will offer robust opportunities for this market over the forecast period. The growing adoption of quadruple, triple, and dual camera set ups are adding market growth. Based on the stiff competition among market players, companies have been forced in tinkering with traditional camera setups and grabbing the attention of consumes with latest features and technological developments that is leading to an upsurge in image sensors in smartphones.
Restraints
High Power Consumption to act as Market Restraint
The declining market of still camera and high power consumption in CCD image sensors may act as market restraints over the forecast period.
Challenges
Optimal Performance at all Temperatures to act as Market Challenge
The image sensors attain best image qualities at a specific temperature and a given read speed. Outside those ranges the image sensors are still functional, yet cannot attain their best performance. This is a key technical challenge for image sensors which limits the growth of the market. As one moves towards autonomous systems like smart manufacturing and autonomous vehicles, it is crucial that the image sensors offer optimal performance at every condition.
Besides, the supply chain disruptions caused by COVID-19 may also impact the global image sensor market growth over the forecast period.
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Segmentation of Market Covered in the Research:
By mode of technology, the CMOS sensor will lead the market over the forecast period. This is an imaging sensor that is used in most of the cameras as well as other image capturing devices and is cheaper than other segments. With the rising need for high-definition image capturing devices, the CMOS technology is likely to witness an increasing adoption rate in the assessment period.
By optical format, the image sensor market is segmented into above 1 inch image sensor, 1/3.9 to ½ inch image sensor, 1/1.9 to 1 inch image sensor, 1/10 to 1/6 inch image sensor, and 1/5.9 to ¼ inch image sensor.
By mode of linearity, the linear mode will dominate the market over the forecast period. Linear image sensors are ideal for applications such as barcode readers, image scanners, and copier scanning components.
By mode of spectrum, the visible spectrum will spearhead the market over the forecast period as this has high resolution and can capture full color images with minimal power consumption. This also helps to capture images both in day light and night conditions.
By application, the automobile segment will have the lions share in the market over the forecast period. For the growing purchasing power of the people there is a burgeoning need for passenger cars. Besides, safety-related imaging technologies and driver assistance applications are turning mainstream. All these are adding to the growth of the segment.
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Regional Analysis
North America to Dominate Image Sensor Market
North America will dominate this market during the forecast period. Rapid industrialization, growing research and development activities, major contribution made by the automotive sector, and increase in safety related mandates owing to increase in accidents are adding to the global image sensor market growth in the region.
COVID-19 Analysis
The spread and outbreak of COVID-19 has affected players significantly that are operating in the image sensor value chain. The rising global need for smartphones is a key factor boosting market growth. The sales of smartphones however have decreased significantly across the globe due to government-imposed lockdowns to stop the spreading of the coronavirus, it has affected the market growth. Besides, such lockdowns have also affected the production of image sensors. They have also impacted the GDP of countries and per capita income of individuals across the globe. The low disposable income has led to reduced purchasing power of masses, thus leading to a fall in whole image sensors industry growth.
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Industry Updates
Samsung has unveiled automotive image sensor called ISOCELL Auto 4AC to expand its presence beyond the mobile sector. This will be used for rear-view cameras & surround-view monitors of a car and offer high-definition resolution images.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
