Image Sensor Market Predicted to Rise by 2024
Market research future has presented a cooked research report on Image sensor market that is expected to grow with the CAGR of more than 8% and due to this, it is predictable to cross USD 16 billion by 2024.
For the Global image sensor market, drivers are rising demand for camera-enabled mobile phones, low power consumption and compactness of CMOS image sensor, and increased use of image sensors in biometric applications.
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The CMOS image sensor segment is projected to be the fastest-growing technology by 2024.
The rapid development of low-power CMOS image sensors allows their penetration into various disciplines such as automotive, mobile phones, digital still cameras and others. CMOS image sensors offer considerable advantages in terms of flexibility, low power, low cost, low voltage, and miniaturization.
These features make them very suitable for security and medical applications. CMOS image sensors medical applications open new perspectives for invasive medical devices, such as wireless capsules for gastrointestinal tract observation. In addition, surveillance and security systems enable a human operator to remotely monitor activities over large areas.
Consumer electronics and automotive are the one of the largest image sensor market
The factors driving the global image sensors market are the growing use of image sensors for biomedical applications, camera-enabled mobile phones and others. Increasing usage of image sensors in automotive applications such as lane departure warning systems, rear corners, advanced driver assistance systems, safety and security system and others, are laying new opportunities for the image sensors market.
North America and Asia-Pacific regions to dominate the image sensor market Information
The North American region was the largest market for these devices in 2014. Countries such as U.S., Canada, and Mexico are major consumers of image sensor devices. Asia-Pacific image sensors market is expected to grow at the highest rate during the forecast period attributed to the rising demand for consumer electronics products.
The growth of the smartphone and feature phone in addition to the rising homeland security budget in the developing countries has boosted the demand for a camera system in recent years. Japan, China, India and Taiwan are some of the major markets of the image sensor in Asia-Pacific.
This report includes a study of strategies, of major market players. It includes the product portfolios, developments of leading major players such as Sony Corporation (Japan), Samsung Semiconductor Inc. (South Korea), OmniVision Technologies Inc. (U.S.), Aptina Imaging Corporation (ON Semiconductor) (U.S.), Himax Imaging (Taiwan), GalaxyCore Inc. (China), SK Hynix Inc. (Korea), and STMicroelectronics N.V (Switzerland) and others.
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