January 22, 2020 by Market-NewsFlash
According 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. The boom witnessed in the automotive industry is presumed to be primarily responsible for the acceleration of revenue creation in the image sensor market. Also, the growth and development of the Complementary Metal-Oxide Semiconductor (CMOS) have been forecasted to augment the market in the forthcoming years.
By application, the global image sensor market has been segmented into mobile phones, tablets, PC camera, Digital Still Cameras (DSC), automotive, medical imaging, and security & surveillance.
By technology, the image sensor market has been segmented into CCD and CMOS.
By operating spectrum, the global image sensor market has been segmented into visible and invisible.
By array type, the image sensor market has been segmented into linear array type and area array type.
By region, the global image sensor market has been segmented into four regions, viz. North America, Europe, Asia, and the Rest of the World (RoW). North America is currently at the forefront position of the global marketplace and is estimated to grow significantly through the forecast period. The penchant for early adoption and implementation of technologies is likely to propel the expansion of the image sensor market in the region over the next couple of years. Meanwhile, Asia Pacific is anticipated to exhibit a steep rise in the growth curve. It is estimated that the valuation of the regional image sensor market is poised to reach USD 8 Bn mark by 2021 up from USD 4 Bn in 2016. The boom witnessed in the end-user industries is expected to propel the expansion of the market. Image sensor market in Europe is presumed to strike a CAGR of 5% over the assessment period.
Some of the major market players profiled in this MRFR report are Sony Corporation (Japan), GalaxyCore Inc. (China), OmniVision Technologies Inc. (U.S.), Aptina Imaging Corporation (ON Semiconductor) (U.S.), Samsung Semiconductor Inc. (South Korea), Himax Imaging (Taiwan), SK Hynix Inc. (Korea), and STMicroelectronics N.V (Switzerland)
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