Published Date: 30-Nov-2022
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According to a new report, published by KBV research, The Global Low Light Imaging Market size is expected to reach $20.2 billion by 2028, rising at a market growth of 9.9% CAGR during the forecast period.
The Consumer Electronics segment is leading the Global Low Light Imaging Market by Vertical in 2021 thereby, achieving a market value of $6.4 billion by 2028. This sector now dominates the low-light imaging market due to the widespread use of low-light imaging technology-based goods, particularly in the smartphone industry. Furthermore, aside from smartphones, low-light imaging technology is utilized in a variety of other consumer electronics products, including tablets, laptops, notebooks, night vision cameras, drones, digital cameras, gaming consoles, smart TVs, and wearables.
The Monitoring, Inspection & Detection segment is showcasing a CAGR of 10.5% during (2022 - 2028). The major industries where low-light imaging cameras are utilized for monitoring, inspection, and detecting tasks in the medical, life sciences, and automotive sectors. To improve convenience and safety, automakers are introducing vehicles with several cameras. The necessity for low-light image sensors in the automobile sector has increased due to the cameras' need to operate effectively in all lighting conditions.
The Charge-coupled Device (CCD) segment has shown the growth rate of 8.3% during (2022 - 2028). CD image sensors require a more sophisticated manufacturing method, which raises the cost of production. Industry insiders claim that while it takes roughly eight months to build an essential CCD chip, it takes about 18 months to create a new CMOS chip. High-end, professional consumer electronics items typically use CCD image sensors since they are more prevalent and economical.
The Asia Pacific market dominated the Global Low Light Imaging Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7.4 billion by 2028. The Europe market is exhibiting a CAGR of 9.4% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 9.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Samsung Electronics Co., Ltd. (Samsung Group), Sony Corporation, Teledyne FLIR LLC, STMicroelectronics N.V., Panasonic Corporation, Canon, Inc., ON Semiconductor Corporation, Hamamatsu Photonics K.K., PixArt Imaging, Inc., and OmniVision Technologies, Inc.
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