Global Image Sensor Market

Global Image Sensor Market Size, Share, Growth Analysis, By Technology(Front Side Illuminated (FSI) Image Sensor, Back Side Illuminated (BSI) Image Sensor), By Processing Type(2D Processing, 3D Processing), By Application(Aerospace, Entertainment) - Industry Forecast 2024-2031

Report ID: SQMIG45J2154 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 95 | Figures: 76

Global Image Sensor Market News

  • In March 2022, Sony Group Corporation announced the signing of a memorandum of agreement with Honda Motor Co., Ltd. for a strategic alliance in the field of mobility.
  • In January 2022, Bungie, Inc., a leading independent videogame developer and long-time SIE partner, was acquired by Sony Interactive Entertainment LLC (SIE). SIE will have access to Bungie's world-class live game services and technical expertise as a result of this acquisition, boosting SIE's aim of reaching billions of players.
  • In Dec 2021, Samsung launched a 64 MP ISOCELL GWB image sensor. It created the new camera sensor in partnership with China’s Tecno. Samsung has touted the camera sensor as the most “human eye-like” image sensor that can take photos with improved color accuracy and better brightness.
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FAQs

Image Sensor Market size was valued at USD 16.25 billion in 2019 and is poised to grow from USD 16.36 billion in 2023 to USD 39 billion by 2031, growing at a CAGR of 9.6% in the forecast period (2024-2031).

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. 'Sony Corporation', 'Samsung Electronics Co. Ltd.', 'OmniVision Technologies, Inc. ', 'Canon Inc.', 'SK Hynix Inc.', 'STMicroelectronics ', 'Panasonic Corporation', 'ON Semiconductor Corporation ', 'Toshiba Corporation', 'Sharp Corporation', 'Himax Technologies Inc.', 'Pixelplus Co. Ltd.', 'Teledyne Technologies Incorporated', 'Pixelworks Inc.', 'ams AG', 'TowerJazz', 'e2v technologies', 'Hamamatsu Photonics K.K.', 'FLIR Systems Inc.', 'New Imaging Technologies (NIT)'

Increasing adoption of ADAS systems to boost the image sensor market: The modern automotive industry is expanding quickly,as a result of embracing cutting-edge technology like artificial intelligence, asset management, and machine vision. The popularity of advanced driver assistance systems, which have 360-degree surround cameras and other useful features like anti-lock brakes, lane departure warning, electronic stability control, traction control, and adaptive cruise control, is growing. Machine vision technology in ADAS infrastructure makes extensive use of image sensors, and ADAS technology has also boosted the idea of automated cars. These innovative concepts are projected to significantly boost the use of image sensors and fuel the market for the image sensors globally.

Increasing adoption of cameras in various domains: Increased camera adoption in artificial intelligence (AI), augmented reality (AR), virtual reality (VR), and driverless cars is expected to bring up new opportunities and revenue generation for image sensor producers. AI has been incorporated into smartphones, security cameras, and other gadgets to improve the quality of photographs taken, transcribe recorded videos, and tell things from people. The principal applications of AI-enabled cameras depend on the photographs and videos that are sent to the processing units and can be preserved in the cloud. Data leakage could occur during the transmission of these images and videos. Companies like Sony Corporation are developing image sensors with AI capabilities to get around these restrictions. These technological advancements are expected to propel the growth of global image sensor market.

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.

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