“The overall image sensor market is expected to grow at a CAGR of 9.75%”
The overall image sensor market was valued at USD 14.19 billion in 2017 and is expected to reach USD 24.80 billion by 2023, growing at a CAGR of 9.75% between 2017 and 2023. Major factors driving the growth of the image sensor market include the increasing penetration of image sensors in automobiles, the trend of miniaturization and dual camera in smartphones and tablets, demand for improved medical imaging solutions. Innovation by OEMs will lead to the increase in the use of image sensors in applications such as machine vision, ADAS, and wearables and will offer great opportunities for the image sensor market. However, high manufacturing cost of image sensors is restraining the growth of this market. Images captured using low-megapixel cameras have numerous drawbacks. The image quality of such images gets reduced while zooming in, cropping, or taking prints. Hence, the demand for high-megapixel cameras is growing. To increase the number of pixels, manufacturers either have to increase the chip size or shrink the pixel pitch. However, a larger chip size would incur higher cost.
“Area image sensors are expected to hold the largest market share by 2023”
The market for area image sensors is expected to grow at a higher rate compared to linear image sensors, mainly because of the rising demand for camera modules in smartphones and tablets. Another reason for the rise in the use of area image sensors is that it offers features such as high sensitivity, high quality of images, and high performance. These features help in reducing noise through the use of technologies such as color noise reduction (CNR) and high dynamic range (HDR).
“APAC to be the fastest growing market for image sensors”
More than 80% of the demand for image sensors is from the consumer electronics application, which includes smartphones and tablets, cameras, computers, and wearable electronics. With the increasing penetration of dual camera in smartphones, the demand for image sensors is expected to increase. Automotive is another application that will contribute to the growth of the image sensor market in APAC. China is the largest producer of automobiles in the world. The development of advanced driver assistance system (ADAS) for automotive application is also expected to boost the demand for image sensors. It has been observed that with the development of ADAS, the number of cameras installed in a vehicle will be more than ten. This will create a huge demand for image sensors in automotive application.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key individuals in the image sensor market.
The break-up of primary participants for the report has been shown below:
- By Company Type: Tier 1 = 55%, Tier 2 = 30%, and Tier 3 = 15%
- By Designation: C-Level = 50%, D-Level = 25%, and Others = 25%
- By Region: North America = 35%, Europe = 25%, APAC = 30%, and RoW = 10%
The report also profiles the key players in this market. The key players profiled in this report are Sony (Japan), Samsung (South Korea), OmniVision (US), On Semiconductor (US), Panasonic (Japan), Canon (Japan), SK Hynix (South Korea), STMicroelectronics (Switzerland), Pixart Imaging (Taiwan), PixelPlus (South Korea), Hamamatsu (Japan), ams (Austria), Himax (Taiwan), Teledyne (US), and Sharp (Japan).
This research report categorizes the overall image sensor market based on technology, processing type, spectrum, array type, vertical, and geography. The report describes major drivers, restraints, challenges, and opportunities pertaining to the market, as well as it provides the value chain analysis.
Reasons To Buy the Report:
The report would help leaders/new entrants in this market in the following ways:
- This report segments the image sensor market comprehensively and provides the closest market size estimation for subsegments across different regions.
- The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities for market growth.
- This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business.
- The competitive landscape section includes the information on the competitors’ ecosystem, product launches, acquisitions, partnerships, agreements, contracts, and collaborations.