Global Image Sensors Market to Witness 10.3% CAGR During (2018-2024), Attaining the Market Size of USD 13.6 billion by 2024

Industry Insights by Technology (Charge-Coupled Device [CCD], Complementary Metal-Oxide-Semiconductor, Others), by Processing Type (2D Image Sensors, 3D Image Sensors), by Spectrum (Visible Spectrum, Non-Visible Spectrum [X-Ray Light, Infrared Non-Visible Spectrum]), by Array Type (Area Image Sensor, Linear Image Sensor), by Vertical (Automotive, Commercial, Healthcare & Life Sciences, Consumer Electronics, Aerospace, Defense, Homeland Security, Industrial)

The 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. The increasing acceptance for image sensing devices in the automobile domain along with excessive demand for enriched medical imaging systems are the major factors pertaining to the growth of image sensors market across the globe. Image sensors are rapidly being utilized in imaging devices and digital cameras for converting light received on the camera into digital imagery.

Increasing demand for high-definition cameras, smartphones, and security cameras have upgraded the application of imaging sensors in various industry domains such as medical, industrial, consumer applications and media, which is supporting the growth of the image sensors market worldwide.

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Furthermore, extensive demand pertaining to improved medical imaging solutions widened accessibility and availability of image sensors technique along with reduced threshold due to improvement in technology. This is expected to bolster the growth of the image sensors market in healthcare domain across the globe.

On the basis of technology, the image sensors market is segmented into the charge-coupled device, complementary metal-oxide-semiconductor, and others.

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.

On the basis of the spectrum, the image sensors market is categorized into the visible and non-visible spectrum. The non-visible segment is further sub-segmented into x-ray light and infrared non-visible spectrum. The non-visible spectrum is expected to witness higher CAGR of 12.0% during the forecast period since the cameras that are capable of functioning in the invisible spectrum find increased applicability in security and surveillance.

On the basis of vertical, the image sensors market is categorized into automotive, commercial, healthcare and life sciences, consumer electronics, aerospace, defense and homeland security, and industrial. The automotive segment is further subcategorized into forward-looking ADAS, camera mirror system, rear- and side-view and in-cabin ADAS.

Industrial segment is further classified into industrial surveillance and monitoring, machine vision and robotic vision. Among all these segments, consumer electronics account for the largest revenue in the global market due to increasing upgradation in the CMOS technique that has significantly impacted the dissemination of image sensors into smart devices.

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Asia-Pacific holds the largest share in the image sensor market, globally. The growth of the image sensors market in this region is due to increasing industrialization and research and development activities. Additionally, an increasing requirement of safety-related directives in the automotive domain is increasing due to a 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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