The global image sensor market is anticipated to reach USD 26.41 billion by 2024,
according to a new report by Grand View Research, Inc. The industry is poised
for an unprecedented growth over the forecast period owing to the rising
expenditure on security & surveillance in public places across regions and
increasing disposable income across the emerging and developing economies. The
impact of information technology in the automotive, defense, medical, and
industrial application has driven the demand for image sensors over the
projected period.
Increasing adoption of
technologies for improving anti-terror equipments mitigating the security
lapses has demanded for better camera resolution, which has further enhanced
the market growth. The IP cameras are expected to have a significant growth
over the forecast period as compared to analog cameras, which is due to higher
resolution, secure transmission, ability to cover more distance, high-speed
recording, and lower cable cost. Consumer electronics is expected to be the key
application segment having the significant penetration and is also anticipated
to grow at a considerable rate over the forecast period. The leading companies
in the market are seeking new revenue sources as the smartphone market is
attaining maturity. This has resulted in increased demand for the image sensors
in the wearable industry and other applications.
The increasing R&D
expenditure on the deployment to have a raw material access is expected to
compel the backward integration at the buyer’s end. For instance, Beijing-based
Hua Capital Management Co., Ltd. planned to acquire U.S-based OmniVision
Technologies, Inc. in 2016 to overcome the supply shortage in the market.
Access Research Report of Image
Sensor Market @ http://www.grandviewresearch.com/industry-analysis/image-sensors-market
Further key findings from the report suggest:
· The image sensor market is anticipated to
witness a considerable growth over the projected period owing to the increasing
awareness of early diagnosis. Moreover, a growing number of diagnostics imaging
procedures have increased the demand for imaging systems in the healthcare
facilities.
· The CMOS technology is anticipated to grow
at significant CAGR over the projected period owing to the characteristics such
as low power consumption, high immunity to noise, and less emission of waste
heat.
· Consumer electronics is anticipated to gain
the highest revenue over the forecast period owing to the wide applications in
devices such as wearable, tablets, notebooks, PCs, webcams, gaming consoles,
and so on.
· The industrial/defense application is
anticipated to witness a CAGR of over 15.2% over the forecast period. The
growth is attributed to the increased defense spending by countries across the
region. The increasing performance of the high-end CMOS technology is competing
with the CCD technology on the factory floors. Reducing the cost of mainstream
cameras and sensors allows vision to be used effectively in the industrial
applications.
· The North American image sensor industry is
anticipated to have a significant growth over the forecast period. The
increasing per capita healthcare expenditure and prevailing large consumer base
have influenced the growth in the region.
· The key players in the image sensor market
include OmniVision Technologies, Inc., (U.S.), Toshiba Corporation (Japan), and
Pixart Imaging, Inc. (China). Companies are focusing on developing new products
to enhance their market share.
Grand View Research has
segmented the image sensor market on the basis of technology, application, and
region:
Image Sensor Technology Outlook (Revenue, USD Million,
2014 - 2024)
·
CMOS
·
CCD
Image Sensor Application Outlook (Revenue, USD Million,
2014 - 2024)
·
Automotive
·
Consumer Electronics
·
Security & Surveillance
·
Industrial/Defense
·
Medical
·
Others
Image Sensor Regional Outlook (Revenue, USD Million, 2014
- 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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