Image Sensors Market and its Growth Landscape in the Foreseeable Future

Global image sensors market is expected to reach $23.2 billion by 2023. Rising demand for dual-camera mobile phones, development of low-power and compact complementary metal–oxide–semiconductor (CMOS) image sensors, and increased use of image sensing devices in biometric applications are some of the major factors driving the growth of the image sensor market.

 

In terms of technology, the image sensors market has been categorized into CMOS and charge-coupled device (CCD). The CMOS technology has been contributing higher revenue to the industry, with an estimated share of more than 65% in 2017.

 

 

During the forecast period, the market for linear image sensors is expected to grow at a higher rate than that for area image sensors, because of the increasing utility of these sensors in applications that demand both speed and high image quality, such as multifunction printers, scanners, copiers, bar code readers, and cash machines.

 

           

Some of the major manufacturers operating in the APAC market are Canon Inc., Hamamatsu Photonics K.K., Hitachi Ltd., Mitsubishi Motors Corporation, NHK, Sony Corporation, Toshiba Corporation, and Sharp Corporation.

 

APAC is expected to continue being the largest image sensors market, globally, in the coming years, because of the presence of a large number of foundries and manufacturers of these sensors in the region.

 

The image sensors market is experiencing steady growth, which is majorly driven by the rise in the demand and sales of dual-camera mobile phones. CMOS technology-based sensors are widely used in dual-camera mobile phones owing to the increased consumer interest in next-generation photography.

 

 

The image sensors market is offering high growth opportunities to the market players, mainly in the CMOS segment, which is witnessing a rise because of the introduction of smart devices and their rapid penetration in various industries. 

 

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