Image Sensors Market - Forecast(2021 - 2026)

The Image Sensors Market is forecast to reach $29.13 billion by 2025, by growing at a CAGR of 8.71% during the period 2019-2025. The growth of the Image Sensors Market can be attributed to increasing applications of image sensors in automotive and industrial segments. The Image Sensors market is anticipated to hugely benefit from the upcoming wave of new technologies in the industrial and automotive sectors in the form of Industry 4.0 and autonomous vehicles. 

Image Sensors Market Report Coverage

The report: “Image Sensors Market – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Image Sensors Market. 

By Technology: CMOS, CCD, CIS, Others

By Application: Consumer Electronics, Medical Devices, Industrial, Security and Surveillance, Aerospace and Defense, Automotive, Others.

By Geography: North America, South America, Europe, APAC, RoW.

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Key Takeaways

• The market is highly consolidated with the top players including Sony Corporation, Samsung, Omni Vision Technologies, On Semiconductor, STMicroelectronics accounting for major share in the Image Sensors Market in 2018.
• CMOS image sensors are anticipated to grow at an extremely fast pace in the technology segment owing to the advantages in terms of manufacturing, cheaper costs, and lower circuit complexities. These features drive the usage of CMOS sensors in smartphones, digital and industrial cameras. 
• The industrial image sensors market is set to grow at a CAGR of over 10% in the forecast period 2019-2025 fuelled by the Industry 4.0 applications.
• Automatic Driver Assistance Systems (ADAS) are anticipated to drive the growth of image sensors market in the APAC region. Favorable governmental regulations coupled with the consumer demand for safety features in automobiles are driving the usage of automotive cameras and image sensors. 
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Image Sensors Market Segment Analysis - By Technology 

CMOS image sensors hold a major share in the image sensors market globally. They find varied range of applications covering costumer electronics, security and surveillance, automotive and others owing to the advantages offered by them in terms of compactness, higher frame rates low power consumption and importantly the costs over the other types of image sensors. Additionally, the emergence of multi camera equipped smartphones has impelled the market for the CMOS sensors in the recent past. 

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Image Sensors Market Segment Analysis - By Application 

Large scale usage of image sensors in Industrial applications are one of the biggest growth factors for the image sensors market globally. The Industrial Image Sensors market is poised to grow at a CAGR of 10.94% in the forecast period 2019-2025. The forthcoming wave of Industry 4.0 will make use of image sensors for automation of manufacturing processes to achieve efficient production through a network of vision systems that will monitor operational processes. Going forward, image processing is poised to have a great significance in Industry 4.0, as industrial cameras incorporated with image sensors and machine vision systems will take part in inspection, predictive maintenance, process control, robot guidance systems, and track and trace applications.

Image Sensors Market Segment Analysis - By Geography

APAC is one of the largest market for image sensors and it can be attributed to the growing adoption of Advanced Driver Assistant Systems (ADAS) in automobiles. Governmental regulations for vehicle safety coupled with consumer demand for active safety features are poised to impact the image sensors market positively. In India, the government has disclosed its plans of mandatory inclusion of ADAS systems for all the cars by 2022 along with Electronic Stability Control. In China, the number of automotive camera installations accounted for over six million units in 2017, which is anticipated to cross 30 million units by 2021. Trends such as these present excellent growth opportunities for the automotive image sensors market in the APAC region. 

Image Sensors Market Drivers

Medical Imaging 

Medical diagnostics is a surging application field for image sensors. Growing scope for imaging diagnostics in the medical industry is anticipated to improve the market for medical image sensors, which is mainly driven by the applications of image sensors in endoscopy and X-ray imaging. Emerging endoscopy solutions such as capsule endoscopy and disposable endoscopes are poised to further fuel the growth of the market. An increase in therapeutically treated ailments such as cancer and gastrointestinal diseases coupled with growing patient preference for minimal abrasive surgeries are boosting endoscopy applications globally.

Dual and Triple Cameras in Smartphones

Smartphones of consumer electronics segment are driving the image sensor market growth with growing adoption of dual, triple, and quadruple camera set ups. Penetration of dual camera smartphones increased from 3% in July 2016 to 42% in July 2018. Owing to the stiff competition amongst the market players, companies are forced to tinker with traditional camera setups and grab consumer attention with new features and technological developments, which is leading to an increase in the number of image sensors used in smartphones.

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