Northbrook, IL 60062 -- (SBWIRE) -- 05/04/2022 -- The Image Sensor Market size is projected to reach USD 28.0 billion by 2025 from an estimated USD 18.5 billion in 2020, at a CAGR of 8.6% from 2020 to 2025.
Rise in use of image sensors in improved medical imaging solutions and increase in incorporation of high-resolution cameras equipped with image sensors in mobile devices are among the factors driving the growth of the image sensor market.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=601
By processing technique, 3D image sensors projected to capture larger share of image sensor market by 2025
The 3D image sensors segment of image sensor market expected to capture larger than 2D image sensor in 2025. This growth can be attributed the increasing demand for 3D image sensors in automotive applications. These sensors have depth-sensing capabilities, which make them suitable for automotive applications for enhanced safety of drivers and onboard passengers.
Visible spectrum expected to hold the larger share of the image sensor market in 2019
In 2019, the visible segment held a larger share of the image sensor market than the non-visible segment. Rising incorporation of new and advanced cameras in smartphones is also fueling the growth of this segment of the market. Smartphone companies are now launching their products equipped with cameras having a resolution of 48 MP, 64 MP, and even 108 MP, thereby leading to a rise in demand for visible image sensors.
Automotive end user to grow with the highest CAGR during forecast period
The automotive segment of the image sensor market is projected to grow at the highest CAGR from 2020 to 2025. The key factor contributing to the growth of this segment is growing awareness to ensure the safety of passengers. Image sensors incorporated in highly advanced ADAS offer 360-degree surround-view to drivers, thereby reducing the chances of collisions significantly. Moreover, the development of autonomous vehicles is expected to drive the growth of the automotive segment of the image sensor market during the forecast period.
In 2025, APAC is projected to hold the largest share of the overall image sensor market
APAC region to hold the largest market share (~46%) of the global image sensor market. The growth of the image sensor market in APAC can be attributed to the growing population in countries of APAC. The region houses some of the world's highly populated countries, including Chain and India. These countries are witnessing large sales of smartphones and tablets. This, in turn, drives the growth of the image sensor market in APAC.
Key Market Players
Sony Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), OmniVision Technologies, Inc. (US), STMicroelectronics (Switzerland), ON Semiconductor Corporation (US), Panasonic Corporation (Japan), Canon Inc. (Japan), SK hynix Inc. (South Korea), PixArt Imaging Inc. (Taiwan), and Hamamatsu Photonics K.K. (Japan) are some of the key players in the image sensor market.