Imaging Sensors Market Overview
Image sensors help in transforming an optical image into an electrical signal utilizing CMOS technology, thereby aiding in integration of image sensing and digital signal processing on single chip. This technical design tends to be implemented in next generation projection systems, such as home appliances, wearable electronics, IoT application and medical devices.
Image sensors generate higher speeds, low power consumption, allow to store module calibration data, adopts ROM to reduce sensor initialization time and frame synchronization. South Korea is anticipated to make driver assistance systems mandatory, therefore Image sensors market is expected to grow tremendously at higher rate in next five years. The global Image sensors market is on a rise and is expected to rise to USD 18.76 billion by 2024 at a CAGR of 7.5% over the forecast period owing to the increasing demand of high quality images, increasing safety regulations and adoption of advanced driver-assistance systems (ADAS).
By technology, CMOS tends to drive the global Image sensors market and being the largest market share holder owing to the increasing demand of machine vision system. Geographically, Asia Pacific is currently the largest market for Image sensors with 35% of Image sensors market share and is forecasted to reach USD 6.56 billion by 2024 at a CAGR of 7.85%.
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Drivers and Restraints:
The ever increasing demand of camera integrated devices in tablets, phones, etc., the requirement of better picture quality, advancement in sensor technologies like backlight illumination CMOS and low cost availability of the Image sensors are the driving factors of image sensors market. With increasing R&D, image sensors have become power efficient, smaller and cheaper. Also, elevating concerns for surveillance and security in public places along with the increasing terrorist attacks tend to drive the Image sensors market.
Complex manufacturing process of high resolution Image sensors, shortage of lenses and picture sensors due to surging demand of smartphones and falling demand of photographic equipment due to their high maintenance cost are the major reasons that can hinder the market.
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Geographically, the global image sensors market can be partitioned into regions like North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific is the largest market for Image Sensors market followed by North-America, and Europe has been termed as an emerging market.
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Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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