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DUBLIN--(BUSINESS WIRE)--Oct 31, 2022--
The "Image Sensor Market by Technology (CMOS Image Sensors), Processing Technique (2D Image Sensors, 3D Image Sensors), Spectrum, Array Type, Resolution, End-User (Consumer Electronics, Automotive) and Geography - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global image sensor market size is estimated to be USD 26.1 billion in 2022 and is projected to reach USD 38.6 billion by 2027, at a CAGR of 8.1% during the forecast period.
The market has a promising growth potential due to several factors, increasing use of image sensors in advanced medical imaging solutions and growing adoption of ADAS in automobiles.
3D image sensors: The fastest-growing segment of the image sensor market, by processing technique
The 3D image sensors segment of the market is projected to grow at a higher CAGR during the forecast period. This growth can be attributed to the rising adoption of 3D image sensors in AR/VR, automotive, 3D sensing, and simultaneous localization and mapping (SLAM) applications owing to their depth-sensing ability. Further, 3D image sensors are a superior choice than 2D sensors as they can compensate for the shortcomings of 2D by recording correct depth information, resulting in a point cloud, which is a considerably superior object in terms of precision.
5 MP to 10 MP resolution: The second largest resolution segment of the image sensor market.
In 2021, the 5 MP to 10 MP resolution segment accounted for the second largest size of the image sensor market. The growth of this segment can be attributed to its benefits such as have low power consumption and a small footprint. They are widely used in low-end devices such as facial authentication systems, advanced driver assistance systems (ADAS), in-cabin ADAS, tablets, etc The growth of ADAS in automobiles drives the growth of this segment.
Further, companies have also been actively launching new products within this range. For instance, in 2021, Sony Group, launched a 2/3-type CMOS image sensor for industrial equipment that is ultraviolet light (UV)-compliant and has the industry's highest effective pixel count of roughly 8.13 megapixels, and OMNIVISION launched OH08A and OH08B CMOS image sensors?the first 8-megapixel resolution sensors for single-use and reusable endoscopes
Area Image Sensors: The fastest-growing segment of the image sensor market, by array type
The area image sensors segment is projected to lead the image sensor market during the forecast period as they perform admirably on discrete components, they are used in a disproportionately high number of simple machine vision applications. Further, they are simpler to use and easier to install than their line image sensors counterparts, more cost-efficient and have a broader range of applications than line image sensors. Thus, the segment is expected to grow at a higher CAGR during the forecast period.
Visible spectrum: The largest segment of the image sensor market, by spectrum
In 2021, the visible spectrum segment held a larger share of the image sensor market than the non-visible spectrum segment. The growth of this segment can be attributed to the increased use of image sensors in consumer electronics due to the advantages of reduced power consumption, simplicity of integration, speed, and cost factor. The increased demand for cameras with varied resolutions for use in smartphone photography, wearables, commercial drone, and service robots has bolstered the market growth.
Automotive: The fastest-growing segment in the image sensor market, end-user.
The automotive segment of the market is projected to grow at the highest CAGR from 2022 to 2027. The key factor contributing to the growth of this segment is the increasing safety concerns among automobile manufacturers. The adoption of image sensors in advanced driver assistance systems (ADAS) and the trend of autonomous vehicles provide opportunities for market growth.
Market Dynamics
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Companies Mentioned
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PUB: 10/31/2022 08:50 AM/DISC: 10/31/2022 08:51 AM
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