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The global Image Sensor Market Size is expected to attain a value of $22.8 billion by 2022, growing at a CAGR of 8.6% during the forecast period.
Image sensor is a device used to detect optical images presented by a lens and convert the same through electrical signals. Image sensors are used in devices such as in digital cameras and in different camera modules. Complementary metal?oxide?semiconductor (CMOS) technology has led to the innovation of advanced image sensor devices, which are highly efficient. The growing needs for high resolution compact pixel devices, which are cost-effective, are anticipated to fuel the market growth during the forecast period. Technological advancements and increasing adoption of images across various applications have contributed to the growth of the image sensors market, globally. With the growing investments in R&D, sensing equipment has become relatively cost effective, compact and efficient, which is huge opportunity for the industry players.
The increasing adoption of smartphones has further driven the market and would be a positive factor driving the market during the forecast period. The growing concerns over surveillance & security in public places such as parks, public places, malls, railway stations, and terrorist activities are significantly contributing to the need for higher resolution cameras. The demand for cell phones and digital still cameras has resulted in shortage in lenses and picture sensors. Also, the dynamic nature of semiconductor business would also act as a restraint to the market growth during the forecast period. The image sensor market is segmented on the basis of technology type and application. Based on application, the market is segmented into aerospace, automotive, consumer electronics, healthcare, industrial, entertainment, security & surveillance, and others. The others application segment includes motion capture and barcode and document scanners.
The automotive sector is anticipated to grow at a significant CAGR between during the forecast period. The growing awareness in different regions about the need for driver assistance and safety offered by advanced driver assistance systems (ADAS) is further driving the adoption of image sensors in the automotive sector. Consumer electronics was the major segment with highest revenue share of the image sensor market. The growing trend of dual camera mobile phones would substantially contribute to the image sensors market, thus driving the consumer electronics sector of the image sensor market.
Based on region, Image Sensor market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, Taiwan, South Korea, Singapore, and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. Asia-Pacific remained the dominant region in the global Image Sensor market in 2015. North America would witness promising CAGR during the forecast period (2016-2022). The report covers the analysis of key stake holders of the Image Sensor market. Key companies profiled in the report include Toshiba Corporation, NXP Semiconductors N.V, Texas Instruments Incorporated, STMicroelectronics N.V., Samsung Electronics Co. Ltd., Sony Corporation, Apple Inc., e2v Technologies Inc., Panasonic Corporation and Galaxycore Shanghai Limited Corporation.