Knowledge Sourcing Intelligence announces the publication of a new report on “Image Sensors Market - Forecasts from 2020 to 2025” to their offering.
An incremental rate of R&D resulting in a reduction of price and increasing efficiency is leading to a surge in the demand arising from a myriad of industries are the prime factors that are estimated to drive the market growth.
As per the report, the market pertaining to the Image Sensors Market is expected to reach US$21.048 billion by 2025, from US$13.333 billion in 2019.
The market for image sensors is poised to experience significant growth due to a myriad of applications that it finds itself making inseverable from a variety of types of machinery especially that of cameras used in multifarious applications that are inclusive of but not limited to medicine, automotive, entertainment among others. Simultaneously the incremental investment due to the possibility of bringing about more advanced variants of image sensors is further augmented the growth of the market which as a result of the image sensor being more affordable, compact, and energy-efficient creating a potential for even wider industrial application. The ever-evolving and expanding market of cellular devices, tablets, and other consumer electronics is another aspect that has a discernible positive impact on the growth of the market in the next few years. This is a factor that is expected to restraint the growth because of a shortage of image sensors as a result of high demand. Besides the increasing incidence of security breaches and unlawful activities the requirement for increased surveillance and security measures is being urgently felt by both private and public entities across the world resulting in a stratospheric rise in the image sensing market. The growing cognizance of connected living hence the adoption of IoT in almost every sector as well as Industry 4.0 are expected to accelerate the growth of the market.
Particularly segments like that of Advanced Driver Assistance Systems (ADAS) are expected to be a considerable driver for the growth of the market and expansion of the market share of the automotive sector resulting from meteoric demand for capabilities such as night vision, and road sign recognition system, among others. This is in part augmented by the EU government regulations that make it mandatory for new safety technologies to be implemented by 2022. This requirement stems form the quick response time by automated systems upon detecting a particular situation while driving that ensures the safety of drivers, co-passengers, pedestrians as well as cyclists. With regards to automotive section OmniVision Technologies, Inc., which is globally recognized pioneer in advanced digital imaging solutions, has reportedly announced the launch of OX03C10 ASIL-C automotive image sensors which as per the organization's press release is the world’s first images sensor intended for viewing applications that combines the most superior LED flicker mitigation (LFM) performance for viewing applications with reduced motion artifacts and a large 3.0-micron pixel size with a high dynamic range (HDR) which is to the tune of 140 dB It is also reportedly the first image sensors for viewing with HDR and LFM that can provide up to 1920 x 1280p resolution at the highest rates of sixty frames per seconds (60fps) resulting in more flexibility pertaining to design and swift switching to camera view intended for the drivers.
Further, this one-of-a-kind image sensor has the lowest power consumption of any LMF image sensor with 2.5 MP resolution which reportedly 25% lower than the nearest competitor. It also features the most compact package size available in the industry facilitating the placement of cameras in tighter space without compromising on the performance that is operating at 60fps. Further pertaining to traffic, the demand for traffic surveillance cameras has led to the growing recognition of advanced traffic cams facilitating the stupendous market growth. On the other hand, the increasing R&D on minimally invasive solutions and imaging techniques as well as the wide acknowledgment of 3D imaging technology in the healthcare for improved imaging resulting in enhanced visualization are expected further catapult the market to new heights an increase the share of the healthcare segment during the next few years.
As a part of the report, the major players operating in the image sensor market, which have been covered are ams AG, Canon Inc., Hamamatsu Photonics K.K., OmniVision Technologies Inc., Samsung Electronics, Semiconductor Components Industries, LLC, SK Hynix Inc., Sony Corporation. Teledyne Imaging Inc., and Toshiba Electronic Devices & Storage Corporation.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/image-sensors-market
This report segmented the image sensor market on the basis following terms