The global image sensor market is expected to grow significantly from USD 14.1 billion in 2017 to USD 25.6 billion in 2024 at a CAGR of 10.3%. Factors driving the global image sensor market are; growing demand for miniaturization in consumer electronics, rising demand for dual camera in smart phones and tablets, and growing government concern for security solutions in commercial as well as residential purposes. Moreover, growing need for cost effective smaller pixel devices with high resolution and increasing demand for medical imaging is further augments the market growth. However, high manufacturing cost associated with image sensors may hamper the market growth.
Image sensor plays a vital role in developing a crystal clear vision to view the desired aim. Earlier 2D sensors were used, but now it has been substituted by 3D sensors. This sensor is majorly designed for smart phones, tablets, and augmented reality devices. 3D sensors are categorized in “time of flight”. It also finds its wide application in self driving automobiles, drones, gaming consoles, and others.
Adoption of curved image sensor resulting in high optical performance in consumer electronics
Flat sensors may overcome several deviations, which ultimately leads to good quality of an image. But, emerging curved sensor uses less optical elements and offers an efficient way to correct aberrations by using wide angle lenses that generate sharp and clear images. CMOS technology has tremendously enhanced the penetration of image sensors into consumer electronics including smart phones, tablets, and others.
Image sensor Market - Regional insight
Asia-Pacific (APAC) is expected to acquire the largest market share during the forecast period owing to the growing demand for image sensors in consumer electronics such as tablets, cameras, smart phones, and other wearable electronics. The evolution of advanced driver assistance system (ADAS), mainly in China, for automotive application is further augmenting the demand of image sensor in APAC. Furthermore, this region is also the fastest growing region due to the rapid increase in number of smart phones users.
Key findings from the report:
- On the basis of technology, adoption of complementary metal oxide semiconductor (CMOS) technology is expected to hold the major market share, owing to low power consumption, compact size and lower manufacturing cost.
- Based on array, area image sensor is anticipated to hold the major market share as it offers features like high quality of an image, high sensitivity, and high performance
- Based on type, 3D image sensor is a fastest growing market due to growing applications in computer vision, and machine vision.
- On the basis of spectrum, non-visible spectrum is anticipated to grow with a highest CAGR owing to increasing usage in medical, automotive, consumer electronics and industrial applications
- Based on application, consumer electronics segment is expected to account for highest market share in the market
- Some of the key companies operating in the image sensor industry are Panasonic Corporation, Sony Corporation, ON Semiconductor, Samsung Electronics, Canon, Inc., Toshiba Corporation, Galaxy Core Inc., SK Hynix, Inc., OmniVision Technologies, Inc., PixArt Imaging, Inc., Teledyne Technologies, Inc. and others.
The report segments the global image sensor market on the basis of technology, type, array, spectrum, application, and region.