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Image Sensor Market To Reach USD 49,275 million by 2030

02-07-2023 08:32 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

The total size of the image sensor market was USD 26,622 million in 2022, and it will grow at a rate of 8% during the projected period, to reach USD 49,275 million by 2030, as stated by P&S Intelligence.

Progressions in optical molecular imaging are leading to new advancements in imaging, including improved accuracy and sensitivity. Furthermore, technical progressions in optical molecular imaging have expanded the scope for the usage of such devices in cancer research, clinical translation, and medical practices.

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Also, CMOS image sensors are extensively used in optical molecular imaging tools. Also, researchers are incessantly working on R&D of novel disease models that can be studied with the help of optical molecular imaging technology.

Image sensors are more and more used in the automotive industry, precisely in ADASs. It improves driver safety by gathering info about the surroundings.

Furthermore, the ADAS includes numerous types of semiconductor equipment, for example LIDAR and RADAR integrated cameras and sensors, assisting drivers to have an inclusive view of their environs. One such use of the ADAS is LDW, a technology that advises the driver when their vehicle moves out of the lane.

Recently, the widespread usage of imagers for biometric uses has taken the requirement to the next level. Furthermore, biometric applications, including palm scanning and fingerprint for identification, on borders, in police stations, and offices issuing passports are relatively common.

Also, manufacturers wish high-resolution sensors for biometric devices that are used for collecting biometry data with the utmost precision. The increasing acceptance of access control devices by people has brought about the rise in the requirement for imagers for biometric applications.

APAC dominated the image sensor market, with 46% share of revenue, in the years to come. This has a lot to do with the incidence of the increasing imager foundries and producers.

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Additionally, Japan and China will have a significant revenue in the region in the recent past. In the years to come, India will grow significantly. The accessibility of low labor cost and the establishment of novel production facilities by key players are the main factors powering the Indian market.

Besides, emerging companies of smart devices, including tablets, smartphones and PCs, in China are tapping the potential of the requirement in the nation for dominating in terms of revenue. Major requirement for these devices in the nation has been observed from security and surveillance and consumer electronics sectors. Both sectors will provide a strong base for the requirement to grow in the coming years.

It is due to the fact that need for higher-resolution cameras for security and surveillance, the demand for image sensors will be on the rise.

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P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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