Global Image Sensors Market Insights, Forecast to 2018 - 2024 Size, Development, Innovation and Growth Opportunity

Global image sensors market was valued at USD 13.6 billion in 2017, and is expected to witness a CAGR of 10.3%, during the forecast period (2018 – 2024). Excessive adoption of image sensors technology among the automotive industry is the major factor driving the growth of global image sensor market. Image sensor is used for converting an optical image into an electronic one and it is extensively being used in imaging devices and digital cameras that helps in converting imaging devices into a digital image.

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On the basis of processing type, the image sensors market is segmented into 2D and 3D image sensors. Among these two segments, 3D image sensors segment is expected to witness higher growth at a CAGR of 11.7% during the forecast period since these sensors are observing extensive application in machine vision, ADAS and computer vision. Moreover, utilization of artificial intelligence in smartphones is expected to further drive the growth of the 3D image sensors market. Furthermore, the increasing popularity of this segment is exaggerating the growth of the image sensors market across the globe.

Increasing demand for dual camera in smartphone and tablets along with miniaturization are the major factors driving the growth of the image sensors market. It has been observed that CMOS based technology is extensively being utilized in dual-camera smart phones that leads to increasing popularity of these phones among various gen-next photographers. Moreover, excessive demand for improved medical imaging systems is other factor pertaining towards the growth of the image sensors market. These factors are thereby bolstering the growth of the image sensors market across the globe at a rapid pace.

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Globally industry players are leveraging market growth through new product development, mergers & acquisitions, partnerships, increased investments and technological upgradation that is supporting the image sensors market growth across the globe.

Geographically, Asia-Pacific hold the largest share in the image sensor market, globally. The growth of image sensors market in this region is due to increasing industrialization and research and development activities. Additionally, increasing requirement of safety related directives in the automotive domain is increasing due to large number of accidents cases.

The key players in the image sensors market include Sony Corporation, Samsung Electronics Co. Ltd., OmniVision Technologies Inc., Panasonic Corporation, Canon Inc., Toshiba Corporation, SK hynix Inc., STMicroelectronics N.V., ON Semiconductor Corporation and Hamamatsu Photonics K.K.

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