DUBAI, United Arab Emirates: , Sept. 28, 2022 (GLOBE NEWSWIRE) -- The global image sensor market is expected to reach a valuation of US$ 41672.3 Mn by 2032, with the market growing at a healthy CAGR of 6.7% from the forecast period of 2022 to 2032. In 2022, the image sensor market is expected to reach an estimated US$ 21725.8 Mn. The escalation in the usage of devices equipped with a camera propels the image sensor market to expand at a positive growth rate over the forecast period.
Image sensors are primarily of two types- CCD and CMOS image sensors. CMOS image sensors are preferred to CCD ones as they have high integration on the chips to ensure better performance, miniaturized integrated circuits.
The general market for image sensors is expanding at a positive rate due to improved image processing, optics, and interfaces. The high-quality image sensors aid in lessening the time and effort spent on sensor-related corrections.
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The greater market penetration of smartphones and wide-scale usage of mobile devices with a dual camera feature has boosted the demand for image sensors. In addition to this, the growing demand and preference for selfie phones has also increased the demand for image sensors with better front cameras. Owing to the availability of low-cost CMOS image sensors are attracting mass incorporation into mobile devices. All of these factors bode well for the image sensors market.
The growing desire to take better quality photos, the high integration of cameras into smartphones, along with the advancing smartphone penetration rate, fuel the market growth of image sensors during the projected period. Moreover, the CMOS technology is registering a high adoption rate because of its faster shutter speed while delivering high-quality images. This, in turn, drives the growth of the image sensor market.
“Heightened demand for smart devices with high-resolution cameras is expected to stimulate the global growth of the image sensor market over the forecast period,” says an FMI analyst.
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Key Takeaways:
- Application of image sensors in the automotive industry will create new opportunities.
- High cost of manufacturing may hinder the market growth.
- North America holds about 25.3% of the global market share.
- Europe accounts for about 21.3% of the image sensor market.
- Asia Pacific is expected to offer many lucrative opportunities to the image sensor market.
- Start-ups in this market are focusing on product innovation, specialization and application of advanced technology.
Competitive Landscape
Toshiba Corporation, Sharp Corporation, Sony Corporation, Panasonic Corporation, Samsung Electronic among others are some of the major players in the image sensor market profiled in the full version of the report.
In a highly competitive market, leading market players are focusing on product development and releasing new products. These businesses are keen on adopting advanced technology to gain a competitive edge.
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More Insights into Image Sensor Market Report
In its latest report, FMI offers an unbiased analysis of the global image sensor market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of types (CMOS image sensor, CCD image sensor), application (image sensor for smartphones, image sensor for cameras, image sensor for wearable electronics, image sensor for surveillance, image sensor for others), and region.
According to the latest FMI reports, based on region, the image sensor market in North America is predicted to undergo impressive growth during this period of observation. The market in this region accounts for 25.3% of the overall market share. This growth can be attributed to the rapid technological growth in this region.
The ever-expanding electronics industry and the increasing use of smart electronic devices further supplements the market growth. Aside from the U.S., Europe and the Asia Pacific are also anticipated to display notable market growth with Europe holding 21.3% of the market share and the Asia Pacific region offering newer and attractive market opportunities during the forecast period.
The image sensor market in Europe is primarily driven by the rising technological advancement in image sensor technology, growing demand for image sensors, and the elevated use of programmable and fully integrated sensors. In the Asia Pacific region, China, as prominent electronics producer and consumer, is driving the target market growth.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
Toc Continued.
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