The global image sensor market is anticipated to reach USD 26.41 billion by 2024, according to a new report by Grand View Research, Inc. The industry is poised for an unprecedented growth over the forecast period owing to the rising expenditure on security & surveillance in public places across regions and increasing disposable income across the emerging and developing economies. The impact of information technology in the automotive, defense, medical, and industrial application has driven the demand for image sensors over the projected period.
Increasing adoption of technologies for improving anti-terror equipments mitigating the security lapses has demanded for better camera resolution, which has further enhanced the market growth. The IP cameras are expected to have a significant growth over the forecast period as compared to analog cameras, which is due to higher resolution, secure transmission, ability to cover more distance, high-speed recording, and lower cable cost. Consumer electronics is expected to be the key application segment having the significant penetration and is also anticipated to grow at a considerable rate over the forecast period. The leading companies in the market are seeking new revenue sources as the smartphone market is attaining maturity. This has resulted in increased demand for the image sensors in the wearable industry and other applications.
The increasing R&D expenditure on the deployment to have a raw material access is expected to compel the backward integration at the buyer’s end. For instance, Beijing-based Hua Capital Management Co., Ltd. planned to acquire U.S-based OmniVision Technologies, Inc. in 2016 to overcome the supply shortage in the market.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/image-sensors-market
Global Image Sensor Market, 2014 - 2024 (USD Million)
Further key findings from the report suggest:
·
The image sensor market is anticipated to
witness a considerable growth over the projected period owing to the increasing
awareness of early diagnosis. Moreover, a growing number of diagnostics imaging
procedures have increased the demand for imaging systems in the healthcare
facilities.
·
The CMOS technology is anticipated to grow at
significant CAGR over the projected period owing to the characteristics such as
low power consumption, high immunity to noise, and less emission of waste heat.
·
Consumer electronics is anticipated to gain the
highest revenue over the forecast period owing to the wide applications in
devices such as wearable, tablets, notebooks, PCs, webcams, gaming consoles,
and so on.
·
The industrial/defense application is
anticipated to witness a CAGR of over 15.2% over the forecast period. The
growth is attributed to the increased defense spending by countries across the
region. The increasing performance of the high-end CMOS technology is competing
with the CCD technology on the factory floors. Reducing the cost of mainstream
cameras and sensors allows vision to be used effectively in the industrial
applications.
·
The North American image sensor industry is
anticipated to have a significant growth over the forecast period. The
increasing per capita healthcare expenditure and prevailing large consumer base
have influenced the growth in the region.
·
The key players in the image sensor market
include OmniVision Technologies, Inc., (U.S.), Toshiba Corporation (Japan), and
Pixart Imaging, Inc. (China). Companies are focusing on developing new products
to enhance their market share.
Read detailed report or request for sample of this research report: - http://www.grandviewresearch.com/industry/sensors-and-controls
Grand View Research has segmented the image sensor market on the basis of technology, application, and region:
Image Sensor Technology Outlook (Revenue, USD Million, 2014 - 2024)
·
CMOS
·
CCD
Image Sensor Application Outlook (Revenue, USD Million, 2014
- 2024)
·
Automotive
·
Consumer Electronics
·
Security & Surveillance
·
Industrial/Defense
·
Medical
·
Others
Image Sensor Regional Outlook (Revenue, USD Million, 2014
- 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/press-release/global-image-sensors-market
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