The expanding market for smartphones that are fortified with cameras are the chief driving factor for the expansion observed in image sensors. Market reports associated with the semiconductors & electronics sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is projected to develop at a 10 percent CAGR in the duration of the forecast period.
The escalating application of CMOS image sensors in consumer electronics such as mobile phones, tablets, and PC cameras is driving the image sensor effectively. The development of this technology has opened up the market for image sensors leading to increased entry of market competitors which has created the setup for further growth of the market. The smart wearable segment is projected to increase the expansion of the market in the impending forecast period.
Drivers and Restraints Affecting the Market
The emerging trend in image sensor market is its application in several industries. For instance, Sony Corporation has come up as a separate company for profitable image sensor division. Samsung has also developed an advanced pixel technology in CMOS image sensor called ISOCELL. In order to meet the growing demand of image sensor in high-end photography, mobile imaging, and security and surveillance application, the company has converted one of its water fabrication lines into CMOS sensors.
Owing to the growing demand for low power consumption, camera enabled mobile phone, growing use in biometric applications, and compactness of CMOS image sensor, the global market for image sensor is likely to propel over the forecast period. Image sensors are also used in industry quality control to improve the product yield and spot detective units in the production line. The use of image sensors in biometrics, camcorders, video-conferencing applications, virtual keyboards, optical mice, and others have been in huge demand. The demand for such sensors has contributed to the market growth in a positive way. Moreover, with the innovation in technology, product upgrades and development coupled with new product launches in the market is expected to act as a traction to the growth of the market during the review period.
Meanwhile, the declining market of the digital still camera and high power consumption in CCD image sensors are some of the major factors hindering the market growth globally over the assessment period.
North America Expected to Hold the Largest Share
Geographically, the market for image sensors has been spanned across Europe, North America, Asia Pacific, and Rest-of-the-World. North America has been expected to hold the maximum share among other regions and is predicted to be one of the largest markets for image processing technology. Owing to the rapid industrialization and growing research and development activities, the market in this region is likely to propel over the forecast period. Also, automotive contributes to a large amount in the North American market. Due to increasing number of accidents in this region, safety related mandates are also increasing which is further fuelling the growth of the market over the forecast period.
Meanwhile, the European region is growing at a slow pace compared to other regions. Emerging economies from UK, Germany, France, Benelux, Russia, Italy, and Spain is likely to drive the image sensor market in this region.
Asia Pacific region is also predicted to show a potential growth during the assessment period, owing to the growing investment of major market players in this region.
Omni Technologies has recently announced the OV01A product family of high-performance image sensors which has been specially designed for notebook computers with ultra-thin bezels. It uses PureCel Plus technology to deliver the best performance. The HD sensor provides customers with high quality images in an extremely small form factor.
Image Sensor Market is expected to grow 8% CAGR from 2015-2021, Image Sensor Market Information by…
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Market Research Future
+1 646 845 9312