USD 16.25 billion
Report ID: SQMIG45J2154 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: 95 | Figures: 76
Image Sensor Market size was valued at USD 16.25 billion in 2021 and is poised to grow from USD 16.36 billion in 2022 to USD 39 billion by 2030, growing at a CAGR of 9.6% in the forecast period (2023-2030).
When the pixel size is reduced, the quality degrades due to natural light and is overcome by the sensing devices. Over the course of the forecast period, the market is expected to rise as a result of the rising demand for smaller pixel devices that offer high resolution with an economical strategy. The market has undergone a significant transition in recent years. The global market for image sensors has changed as a result of technical developments and the extensive use of pictures across numerous applications. Sensing equipment has grown more affordable, compact, and energy-efficient thanks to rising R&D spending, providing opportunities to companies in the market. Over the forecast period, it is anticipated that the growing smartphone market, in particular, will drive segment expansion.
The need for higher resolution cameras for security and surveillance is being driven mostly by worries about monitoring and security in public spaces including parks, public squares, malls, and train stations as well as the rise in terrorist acts. But there are now more people using cell phones and digital still cameras than ever before, which has led to a shortage of lenses and image sensors. Additionally, the segment growth during the predicted period may be constrained by the semiconductor industry's dynamic nature.
Due to its compact design, low power requirement, and affordability, which make it perfect for usage in a variety of applications, CMOS technology earned the greatest revenue in 2021 and is anticipated to maintain its dominance over the projection period. It is utilized in analogue circuits like data converters and highly integrated transceivers as well as static RAM, microprocessors, and microcontrollers. CCD technology is expected to have considerable growth owing to high-cost and high power consumption. CCD technology can be used in various applications requiring an extra sensitivity of the electron-multiplying CCD.
US Image Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 16.25 billion
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The Global Image Sensor Market is segmented based on technology, processing type, application and region. Based on the technology, it is categorized into Front Side Illuminated (FSI) Image Sensor, Back Side Illuminated (BSI) Image Sensor, Contact Image Sensor (CIS), Charge-coupled device (CCD) Image Sensor, and Complementary Metal Oxide Semiconductor (CMOS) Image Sensor. Based on the processing type, Image Sensor Market is categorized into 2D Processing , and 3D Processing. Based on the application , Image Sensor Market is categorized into Aerospace, Entertainment, Industrial, Consumer Electronics, Automotive, Healthcare, and Surveillance & Security. Based on region, Image Sensor Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Image Sensor Market Analysis by Technology
On the basis of technology, the complementary metal oxide semiconductor (CMOS) image sensor segment is currently dominating the global image sensor market. Due to qualities including low power consumption, compact size, higher frame rates, simplicity of integration, and lower production costs, CMOS image sensors are the most popular and are projected to lead the image sensor market over the forecast period.
The advancement of CMOS image sensor technology has improved the performance of image sensors. As a result, CMOS technology is now more widely used in consumer electronics as well as in digital cameras since they are less expensive than CCD sensors. Additionally, improved performance, reduced vending amounts, greater battery life and ability to use little power contribute to the expansion of CMOS technology in the image sensor market.
Image Sensor Market Analysis by Application
On the basis of application, the consumer applications segment led the global image sensor market due to the rising sales of smartphones and is expected to continue to do so throughout the forecast period. The need for imaging sensors in consumer electronics is being driven by factors such as high-resolution digital cameras, DSLR cameras with high sensitivity and low noise, point-and-shoot cameras, tablet PC cameras, and cell phones with dual cameras. The automotive industry is projected to grow faster when stacked image sensors for ADAS technologies become commercially available. The main cabinets encircling camera and visualization technology include developing technologies like ADAS, driverless cars, and automated vehicle systems.Therefore, it is anticipated that the consumer electronics and automotive industries will drive the global image sensors market over the forecast period.
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Based on the region, the European region currently dominates the global image sensor market with respect to market share. The significant adoption of image sensors in the European market is due to the rise in smartphone and camera module sales. This is projected to aid in the growth of the image sensor market in the coming years. Additionally, a substantial portion of the imaging market is in North America. The region's preference for advanced imaging solutions has grown as a result of technological advancement and a high rate of innovative technology adoption. Furthermore, the region's image sensor and product adoption is better in the automotive, consumer electronics, and healthcare sectors.
The Asia Pacific region is another region which is predicted to grow significantly over the forecast period. An increase in the growth rate of the image sensor market has been encouraged in Asia Pacific by the region's burgeoning semiconductor sector and the presence of market leaders. The expansion of the image sensors market in Asia Pacific can also be attributed to the existence of important companies like Sony Corporation and the availability of a sizable client base. In addition, the market is anticipated to grow in the next few years due to the advancement of infrastructure and the rising use of smartphones, smart devices, and digital services in growing Asia Pacific nations.
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Image Sensor Market Drivers
Image Sensor Market Restraints
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The image sensor market is highly fragmented due to fierce market competition. New entrants are entering the market as a result of the strong market growth rate, which is being considered as a big investment opportunity. To keep ahead of the competition, the global image sensor market also uses tactics like mergers and acquisitions, joint ventures, and partnerships. In the case of multicamera applications, smartphone OEMs have accelerated their adoption of high-resolution and low-pixel CIS devices, enabling image sensor suppliers to secure inventory and satisfy demand.
Image Sensor Market Top Players Company Profiles
Image Sensor Market Recent Developments
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According to the analysis, the global image sensor market is currently led by countries in the European region, due to the rise in smartphone and camera module sales in the region. Along with this, the complementary metal oxide semiconductor (CMOS) image sensor segment is currently dominating the global image sensor market, and it is projected to maintain its dominance over the forecast period, due to qualities including low power consumption, compact size, and higher frame rates among others.
|Market size value in 2021
|USD 16.25 billion
|Market size value in 2030
|USD 39 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Image Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Image Sensor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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