Albany, NY -- (SBWIRE) -- 01/25/2018 -- The growing application of image detection sensors in consumer electronics, automotive and healthcare sector is having a very strong influence on the growth of the global image detection sensor market. The technological advancements and the expanding application range of CMOS and CCD sensors, such as in lighting solutions and displays for tablets, PC cameras, mobile front and back cameras, and point-and-shoot cameras, are also adding substantially to the market's progress.
Over the forthcoming years, the rising usage of image detection sensors in photography application for consumer electronics is expected to drive the growth of the market significantly.
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The global image detection sensor market progressing at a CAGR of 9.60% between 2016 and 2024, the opportunity in this market is likely to reach a value of US$22.01 bn by the end of 2024.
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CMOS Sensors to Continue Enjoying Strong Demand
In terms of the technology, the global market for image detection sensors has been classified into thermal, charge-coupled device (CCD), and complementary metal-oxide semiconductor (CMOS). Currently, the demand for CMOS-based image sensors is higher than others.
Apart from this, the high cost efficiency of CMOS sensors is also projected to add to their popularity significantly over the forthcoming years.
Asia Pacific to Remain on Top
The Middle East and Africa, Europe, North America, Latin America, and Asia Pacific are the prime regional markets for image detection sensors across the world. Asia Pacific held the leading position in this market in 2015 with a share of more than 35% and is anticipated to remain doing so over the next few years. China, India, and Japan have emerged as the key domestic markets for image detection sensors in Asia Pacific.
The increasing usage of image detection sensing technology in consumer electronics, automobiles, and defense application is likely to boost the Asia Pacific image detection sensors market over the next few years. The rising application of thermal sensors in the aerospace and defense industry is also projected to propel this regional market in the near future.
Hamamatsu Photonics, ON Semiconductor Corp., Canon Inc., Panasonic Corp., Sony Corp., Teledyne Technologies Inc., Toshiba Corp., Samsung Electronics CO. Ltd., Omron Corp., Omnivision Technologies Inc., FLIR Systems, and Hikvision are some of the prominent vendors of image detection sensors across the world.