With the emergence and long-term Impact of COVID-19, Global Image Sensor Market to reach USD XXX Billion by 2028
Bizwit Research & Consulting LLP’s Recent Analysis on Global Image Sensor Market is poised to raise up to USD XXX Billion by 2030. An image sensor is a sensor that is used to detect and carries information that helps in creating an image. The automatic image sensor is a developed and upgraded photosensitive electronic sensor that easily converts light signals into digital signals in the stipulated time. Sensors such as complementary metal-oxide-semiconductor (CMOS) and charged coupled device (CCD) sensors are the two most commonly applied image sensors. The growing integration of high-resolution cameras equipped with image sensors in mobile devices, the rise in demand for image cameras for automotive applications, coupled with the increasing usage of image sensors in advanced medical imaging solutions are the significant factors attributing to the global market demand. For instance, as per Statista, in 2021, total number of smartphone subscriptions was estimated to account for 6,269 million worldwide and the amount is continuously growing and likely to reach 7,690 million by 2027. Consequentially, the surging demand for smartphones among the population is positively influencing the market growth across the globe. However, the high manufacturing costs of large chip image sensors and easy availability of LiDAR solutions for autonomous vehicles impede the growth of the market over the forecast period of 2022-2028. Also, the growing adoption of image sensor cameras in autonomous vehicles and rising innovations and advancements in image sensors are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Image Sensor Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing penetration of emerging technologies and the growing investment in R&D activities. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing demand for smartphones and tablets, as well as, rising concern for the safety of onboard passengers in automobiles, would create lucrative growth prospects for the Image Sensor Market across the Asia-Pacific region.
The global Image Sensor market is highly competitive owing to the presence of several key manufacturers such as Sony Corporation, Samsung Electronics Co., Ltd, OmniVision Technologies, Inc, STMicroelectronics, ON Semiconductor Corporation, Panasonic Corporation, Canon Inc, SK hynix Inc, PixArt Imaging Inc, Hamamatsu Photonics K.K.
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Key findings of the study suggest:
- Global Image Sensor Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028.
- In the Technology segment, CMOS Image Sensor emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising continuous innovation in Image Sensor products, growing penetration of emerging technologies and the growing investment in R&D activities
- Asia-Pacific is expected to grow at higher rate followed by North America during 2022-2028.
Bizwit Research & Consulting has considered following segments for the study:
Technology:
- CMOS Image Sensor
- CCD Image Sensor
- Others
Spectrum:
- Visible Spectrum
- Non-visible Spectrum
End-User:
- Aerospace, Defense, and Homeland Security
- Automotive
- Consumer Electronics
- Medical And Life Sciences
- Industrial
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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