Image Sensors Market to Reach $23.2 Billion by 2023: P&S Market Research

NEW YORK, April 16, 2018 -- According to P&S Market Research, 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.

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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. It is because of the increasing adoption of the CMOS technology by the market players owing to the several advantages offered by it, including lower power consumption, faster frame rate, easier on-chip integration, and lower fabrication cost. 

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. The increased demand for bar code scanners used in areas of production, sales, and distribution has led to the growth of the linear image sensor market in recent years.

Browse report overview with 110 tables and 74 figures spread through 178 pages and detailed TOC on "Image Sensors Market by Technology (CMOS [FSI, BSI], CCD), by Processing Type (2D, 3D), by Operating Spectrum (Visible, Invisible), by Array Type (Area, Linear), by Application (Consumer Electronics [Smartphones & Tablets, Photography & Videography Products, Desktops & Laptops, Commercial Drones], Security & Surveillance, Automotive, Industrial, Healthcare & Life Sciences [X-Ray Imaging, Endoscopy]) by Geography (U.S., Canada, China, Japan, South Korea, India, Germany, U.K., France, Italy, Spain, Brazil) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023"at:https://www.psmarketresearch.com/market-analysis/image-sensors-market

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. 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.

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.

Changing trends in the mobile technology and advancements in the connectivity technology have also generated a significant demand for dual-camera mobile phones in the market. The migration from second-generation to third- and fourth-generation technologies in developing markets, such as China and India, in addition to the market growth of low-end smartphones and featured smartphones, is expected to continue driving the image sensors market in the coming years.

There are many small and large players offering image sensing devices and related technology products, which is increasing the intensity of rivalry in the market. Also, it is not easy for established players to exit the market, as most of these players have partnerships and agreements for raw materials and initial manufacturing and development with outsourced semiconductor assembly and test (OSAT) providers and chip manufacturers.

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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