This report studies Image Sensor Market Globally with SWOT analysis, Market Share, Segmentation, Insights, Growth, Application, Trends, Production, Revenue and Consumption analysis in these regions, forecast to 2024.
Globally, the image sensor industry is predicted to display higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development of the image sensor technology. The recent technological advancement in electrical & electronic industry coupled with development of novel technologies & products such as flat panel detectors and CCD technology are expected to stimulate the growth of image sensor market in the upcoming years.
Growing investment by industry participants in the research & development activities to gain competitive edge over their counterparts is anticipated to favor market expansion in the near future. Soaring demand for image sensors from surveillance & security sector owing to the prevalence of terrorist activities and theft, thus bolstering market growth in the recent years.
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Market AnalysisThe global image sensor market is predicted to touch USD 34.64 million at a 7.02% CAGR between 2018- 2025 states the recent Market Research Future (MRFR) analysis.
As per the current MRFR report, such factors include demand for lower power consumption, camera-enabled phone, increasing use on biometric applications, CMOS image sensor’s compactness, growing use in industry quality control for improving product yield and spotting detective units in product lines, and innovations in technology.
Additional factors adding market growth include new product launches, product development and upgrades, and increasing use in optical mice, virtual keyboards, video-conferencing applications, camcorders, and biometrics.
On the flip side, the huge power consumption of such sensors, the falling market of digital still cameras, and disruptions in the supply chain due to the ongoing COVID-19 outbreak are factors that may limit the global image sensor market growth over the forecast period.
The CMOS segment is again segmented into back-side illumination, front side illumination (FSI), and others.
The medical segment is segmented into ophthalmology, dermatology, dental, surgery, and endoscopy.Get Free Sample Report@ https://www.marketresearchfuture.com/sample_request/956 Key PlayersLeading players profiled in the global image sensor market report include Teledyne Technologies (US), SK Hynix Inc. (South Korea), GalaxyCore Inc. (China), PixArt Imaging Inc. (Taiwan), ON Semiconductor (US), OmniVision Technologies Inc. (US), Samsung Semiconductor Inc. (South Korea), and Sony Corporation (Japan) among others.
Image Sensor Market ResearchAccording to Market Research Future (MRFR)’s study, the global image sensor market has been prognosticated to expand at 10% CAGR over the forecast period 2016 to 2021.
Image sensors are widely used for biometric applications, bar code reading, and other 2D applications.
An increase in the application is projected backed by technological innovations which are poised to augment the market in the foreseeable future.The exponentially increasing demand for camera-enabled phones, wearable devices, etc.
is another major factor that is expected to lead the expansion of the image sensor market over the next couple of years.
Compactness is one of the key areas of focus responsible for driving innovations.
Furthermore, the emphasis is placed on low power consumption which is expected to support market growth over the review period.The growth of the end-user industries is poised to expedite the proliferation of the image sensor market in the years to come.
Image Sensor Market AnalysisAccording to a new report by Market Research Future (MRFR), the global image sensor market is expected to touch a revenue of USD 19,615 million by 2023.
The market is anticipated to witness 14 % CAGR during the assessment period (2017-2023) owing to the growing demand for camera-enabled cell phones.
Image sensor being one of the most lucrative businesses is the company’s primary focus area.Drivers and Restraints Affecting the MarketThe emerging trend in image sensor market is its application in several industries.
For instance, Sony Corporation has come up as a separate company for profitable image sensor division.
Samsung has also developed an advanced pixel technology in CMOS image sensor called ISOCELL.
In order to meet the growing demand of image sensor in high-end photography, mobile imaging, and security and surveillance application, the company has converted one of its water fabrication lines into CMOS sensors.Owing to the growing demand for low power consumption, camera enabled mobile phone, growing use in biometric applications, and compactness of CMOS image sensor, the global market for image sensor is likely to propel over the forecast period.
