Press release
Image Sensors Market to Display Significant Growth During the Forecast Period Having Major Players : Canon, Inc., Hitachi, Sony, Sharp Electronics Corporation USA
In 2017, the market generated a revenue of $15,934.8 million, and it is predicted to progress at a CAGR of 6.2% during the forecast period (2018–2023).
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On the basis of technology, the image sensor market is bifurcated into charge-coupled device (CCD) and complementary metal-oxide-semiconductor (CMOS).
Image sensor is an electronic piece that senses light waves and transforms them into digital signals to deliver information. It works on the conversion principal of variable attenuation of light waves into digital or analog signals.
Based on processing type, the image sensor market is classified into three-dimensional (3D) and two-dimensional (2D) image sensors. Of the two, in 2017, the 2D image-sensing devices registered a dominating revenue share of 70.0% in the market, and it is also anticipated to maintain its lead during the 2018–2023 period.
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This is mainly ascribed to the fact that such devices have a wider availability in the market and offer greater compatibility with different systems.
Thus, growing concerns towards vehicle and driver safety and surging demand for improved image quality in mobile phones are accelerating the image sensor market.
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