Press release
Image Sensor Market is estimated to reach USD 41.8 billion in 2029, growing at 8.3% CAGR during 2022-2029 | Size, Report & Forecast
Image Sensor Market
Image Sensor Market was valued at USD 22.1 billion in 2021 and is estimated to reach USD 41.8 billion in 2029, growing at a CAGR of 8.3% during the forecast period.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/image-sensor-market/
The factors driving the growth of Image Sensor Market includes increasing penetration of smartphones and tablet around the world, rising adoption of Advanced Driver Assistance Systems in the Automobile industry, improvements in the image processing techniques and growing demand for high-definition image-capturing devices. According to the report published by Bloomberg, the Global Advanced Driver Assistance Systems (ADAS) Market is expected to reach USD 58.7 billion by the end of 2030, expanding at a CAGR of 18.2% over the forecast period (2022-2030), which will accelerate the Image Sensor Market share in the approaching years. Moreover, technological advancements in the consumer electronics, increasing application of 3D cameras in the entertainment industry and and development of machine vision in the field of robotics, are some of the additional factors supplementing the Image Sensor Market size. In addition, the increasing investments by leading players on research and development, rising disposable incomes, rapid urbanization, and growing population growth rates, are further contributing to the market growth.
However, the growth of Image Sensor Market of hindered attributed to increasing use of LiDAR systems by the automobile manufacturers.
The leading players operating in the market are OmniVision Technologies, Inc., STMicroelectronics N.V., Semiconductor Components Industries, LLC, Sony Corporation, Samsung Electronics Co., Ltd., Panasonic Corporation, Canon Inc., SK hynix Inc., Hamamatsu Photonics K.K., and PixArt Imaging Inc., among others.
Based on Processing Technique, the 3D Image Sensors segment is estimated to grow at a significant CAGR during the forecast period
Increasing application of 3D image sensors in Autonomous vehicles, Augmented Reality and Virtual Reality, are some of the factors responsible for the segment's growth.
Based on Array Type, the Linear Image Sensor segment is projected to expand at a robust CAGR over the forecast period
Increasing use of linear image sensors in image scanners, barcode readers, and bank note recognition systems, are propelling the growth of the segment.
Based on Region, the Asia-Pacific region is predicted to hold the highest market share during the forecast period
Growing demand for digital cameras, smartphones, and tablets, increase in Government's expenditure on the healthcare sector, improvements in the living standards, rising disposable incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
In 2020, OmniVision Technologies, Inc., introduced OX03C10 ASIL-C automotive image sensor, which can deliver 1920 x 1280p resolution at the rate of 60 frames per second (fps) and enables greater design flexibility.
In 2020, Sony Corporation introduced intelligent vision sensors, IMX500 and IMX501, these sensors can be used in wide range of applications in the retail and industrial equipment industries.
Market Segmentation
Segmentation by Technology
CMOS Image Sensors
CCD Image Sensors
Others
Segmentation by Processing Technique
2D Image Sensors
3D Image Sensors
Segmentation by Spectrum
Visible Spectrum
Non-Visible Spectrum
Segmentation by Array Type
Linear Image Sensor
Area Image Sensor
Segmentation by Resolution
VGA
3 MP to 3MP
5 MP to 10 MP
12 MP TO 16 MP
More Than 16 MP
Segmentation by End User
Aerospace, Defence, and Homeland Security
Automotive
Consumer Electronics
Medical and Life Sciences
Commercial
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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