Press release
Image Sensor Market Latest, Demands, and Top Players Data by Forecast to 2030 | CAGR 10.7%
New York , United States- Report Ocean published the latest research report on the Image Sensor market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Image Sensor market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.The global image sensors market was calculated at ~US$17.6 billion in 2020. The market forecasts to reach ~US$48 billion in revenue by 2030 by registering a compound annual growth rate of 10.7% during the forecast period from 2021-2030.
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Factors Influencing
The global image sensor market is expected to gain traction in the upcoming years because of the upscaling demand for image sensors technology in the automotive industry. Image sensors are highly useful in converting optical images into electronic ones. Thus, the demand for image sensors is expected to increase due to their applications in digital cameras.
Moreover, constant advancements in Complementary metal-oxide-semiconductor (CMOS) imaging technology would positively impact the growth of the global image sensors market. Recent advancements in CMOS technology have improved visualization presentations of the machines. Moreover, the cost-effectiveness of these technologies, together with better performance, would bolster the growth of the global image sensor market during the analysis period.
The growing adoption of smartphones and advancements in the industry are driving the growth of the global image sensor market. Dual camera trend in smartphones and tablets, forecast to accelerate the growth of the global image sensor market. In addition, excessive demand for advanced medical imaging systems would present some promising opportunities for the prominent market players during the forecast timeframe.
Various companies are coming up with advanced image sensors with Artificial Intelligence capabilities. Sony Corporation (Japan) recently launched IMX500, the world's first intelligent vision sensor that carries out machine learning and boosts computer vision operations automatically. Thus, such advancements are forecast to prompt the growth of the global image sensor market in the coming years.
Furthermore, the growing trend of smartphone photography has surged the demand for the image sensor to provide clear and quality output. Growing demand for 48 MP and 64 MP cameras would lead to the growth of the global image sensors market in the future.
Regional Analysis
Asia-Pacific forecasts to hold the maximum share with the highest revenue in the global image sensors market. The growth of the region is attributed to the increasing research and development activities. Moreover, the growing number of accident cases in the region is boosting the use of ADAS (advanced driver assistance system), together with progressive image sensing proficiencies. Thus, it would surge the demand for image sensors in the region during the forecast period.
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Covid-19 Impact Analysis
The use of image sensors in smartphones has been the key reason for the growth of the market. However, the demand for smartphones severely declined during the pandemic. Thus, it rapidly slowed down the growth of the global image sensor market.
Companies Covered
Sony Corporation
Samsung Electronics Co., Ltd
OmniVision Technologies, Inc.
STMicroelectronics
ON Semiconductor Corporation
Panasonic Corporation
Canon Inc.
SK Hynix Inc.
PixArt Imaging Inc.
Hamamatsu Photonics K.K
Other prominent players.
Market Segmentation
Based on technology:
CMOS image sensors
CCD image sensors
Others
Based on processing technique:
2D image sensors
3D image sensors
Based on the spectrum:
Visible
Non-visible
Based on the array type
Linear image sensors
Area image sensors
Based on resolution
VGA
1.3 MP to 3 MP
5 MP to 10 MP
12 MP to 16 MP
More than 16 MP
Based on end-user
Aerospace, defense, and homeland security
Automotive
Consumer electronics
Medical and life sciences
Industrial
Commercial
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Based on region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What is the goal of the report?
The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.
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