Image Sensors Market – Overview
The use smart devices like smart phones, computers and tablets has increased at a dramatic rate. Over the years technological developments have led to many meaningful changes that the people have wholeheartedly accepted. And the emergence of technology in day-to-day life has also paved a way for the smaller industries to develop themselves in an efficient manner. The global market for image sensors is one of the shining examples of this fact. This market is anticipated to come across countless growth opportunities in the forthcoming years.
At present the technological sector is at its prime and any industry even scarcely associated to it is benefitting from this fact. Due to this it can be confidently assumed that in the forthcoming years the global market for image censors will witness growth at a rapid pace. The market is estimated to generate a revenue of around 19,216 million by the end of the forecast period at the CAGR of around 14%.
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The main factors that happen to stimulate the growth of the market are increased demand for camera phones, compactness of the CMOS image sensor and reduced power consumption. However the market may have to tackle certain restraints like diminishing digital camera market and higher power consumption in CCD image sensors.
April 16, 2018 – One of the latest developments for this market is the impending launch of a brand new product by Omnivision in partnership with Nyxel. This product will have the combined features of both these companies and will be highly advanced in nature. The launch of this product in the market is expected to garner a lot of profit for the image sensors market.
The prominent players in the Image Sensor Market are- Sony Corporation (Japan), Samsung Semiconductor Inc. (South Korea), OmniVision Technologies Inc. (U.S.), ON Semiconductor (U.S.), PixArt Imaging Inc. (Taiwan), GalaxyCore Inc. (China), SK Hynix Inc. (Korea), and Teledyne Technologies (U.S.) among others.
The worldwide market for image sensors has been segmented into five equal divisions. Each of these divisions has a sub-segment respectively and all of them have been listed as below:
- By optical format – 1/5.9 to 1/4 inch image sensors, 1/1.9 to 1 image sensors, above 1 inch image sensor and 1/3.9 to 1/2 inch image sensor.
- Application – Medical, electronics, automobile and surveillance. The electronics sub-division is anticipated to take the lead in the upcoming forecast period. The immense developments in the CMOS technology can be classified as the major reason behind this phenomenon.
- By technology – sCMOS, CMOS and CCD.
- By linearity – Non-linear and linear.
- By spectrum – Invisible spectrum and visible spectrum.
Comprehensive Regional Analysis
The market for image sensors has effectively established its dominance across the world map. The major areas where its presence is observed are North America, Europe, Asia Pacific and Rest of the World.
Asia Pacific takes the lead when it comes to regions. It holds the maximum percentage of shares. It has surfaced as the fastest growing market and registered growth at the CAGR 15.39%. This region has observed an incessant increase in the number of smart phone, camera and computer uses. And it is this fact that is responsible for the development of this market. China brings in the maximum business for Asia Pacific as it is a hub for technological developments and new product launches.
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