The global image sensor market is projected to grow at a CAGR of 7.91% to reach US$21.048 billion by 2025, from US$13.333 billion in 2019. An image sensor is a sensor, installed in devices, that translates the light waves into signals and conveys information about the image when detected.
It is used across diverse industries, prominently in consumer electronics, for different applications. Some of the devices that deploy image sensors are cameras, camera phones, medical imaging equipment, and autonomous vehicles, among others. The two main types of image sensors are Charge-Coupled Device (CCD) and Complementary Metal-oxide Semiconductor (CMOS). Cheaper consumer electronics usually incorporate CMOS sensors to consume less power while high-end quality cameras find CCD sensors more suitable to serve their needs. The rising sales of consumer electronics such as smartphones or tablets are driving the demand for image sensors. Additionally, the growing gaming and entertainment industry which relies heavily on audio-visuals is also fuelling the growth of this market. Technological advancements in surveillance, security, and defense are leveraging the capabilities of image sensors, driving up the demand for image sensors. The increased use of image sensors in medical equipment for diagnosis, ophthalmology, radiography, etc., is expected to make this market even more profitable for investment.
The global Image Sensor Industry is growing due to increased demand for smartphones and advancements in the automotive sector.
Urbanization and rising incomes of the people are enabling people to switch from keypad phones to smartphones with cameras. Consequently, there is a parallel demand for image sensors to be installed in smartphones. Challenge lies in developing flawless state-of-the-art sensors to meet the growing needs of the advancing technologies in terms of pixel count and resolution along with performance. Automotive Sector is demanding more use of sensors to supplement the features such as driver assistance. Autonomous cars, a recent trend evolving out of the automotive sector, would augment the growth of image sensors during the forecast period. In AutoSens Conference 2019, in Brussels, Belgium, ON Semiconductor featured a complete in-cabin monitoring system that worked by capturing the images in different lighting conditions.
Geographically, the Asia-Pacific region is expected to see a high CAGR in Image Sensors sales due to a rapid increase in sales of smartphones as India and China are the top consumers of smartphones in the world. Also, China is investing heavy amounts in autonomous vehicles which might reward China with trillions of dollars and at the same time, boost the demand for image sensors. Similarly, America is expected to hold a significant share in the market owing to technological advancements happening in that region with respect to the automotive sector and defense sector. The growing and aging population also requires more CCTV cameras for surveillance and vigilance, impacting the growth of this market positively.
Segmentation:
o Complementary Metal-Oxide-Semiconductor (CMOS)
o Contact Image Sensor (CIS)
o Charge-Coupled Device (CCD)
o Hybrid Image Sensor
o 2D Image Sensor
o 3D Image Sensor
o Visible Spectrum
o Non-Visible Spectrum
o Area Image Sensor
o Linear Image Sensor
o Healthcare
o Consumer Electronics
o Automotive
o Military and Defense
o Transportation
o Others
o North America
o South America
o Europe
o The Middle East and Africa
o Asia Pacific
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