Northbrook, IL 60062 -- (SBWIRE) -- 11/29/2022 -- The global low light imaging market is projected at USD 12.1 billion in 2022 and is projected to reach USD 19.9 billion by 2027, registering a CAGR of 10.4% during the forecast period. integration of low light imaging sensors into cameras of smartphones and tablets, increasing deployment of advanced driver-assistance systems (ADASs) in automobiles, and growing use of low light image sensors in advanced medical imaging applications are other factors having a positive impact on the growth of the market.
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The low light imaging market was dominated by the CMOS technology market during forecasted period. The commanding position of CMOS technology can be attributed to its advantages over CCD technology-based image sensors. Small size, low power consumption, easy integration, faster frame rate, and lower manufacturing cost are among a few advantages of CMOS low light image sensors over CCD low light image sensors. Lower selling prices and enhanced performance are the factors contributing to the rapid growth of the market for CMOS technology-based image sensors.
The photography application is likely to continue to dominate the low light imaging market during the forecast period. The high demand for low light image sensors from the consumer electronics vertical, especially for smartphones, has resulted in the leading position of the photography application in the low-light imaging market.
The consumer electronics vertical is likely to continue to capture the largest market share during the forecast period. The high adoption of low light imaging technology-based products, especially from the smartphone industry, has led to the dominance of this vertical in the low light imaging market. Apart from smartphones, tablets, notebooks, laptops, digital cameras, night vision cameras, gaming consoles, drones, wearables, and smart TVs are among a few of the other devices in the consumer electronics industry in which low light imaging technology is used.
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Asia Pacific dominated the low light imaging market, in terms of market size, and a similar trend is likely to continue in the near future during the forecast period. The consumer electronics industry is the major demand generator for low-light imaging sensors and related solutions in this region. This is due to the presence of manufacturing units of several leading mobile phone, PC tablet, and digital camera manufactures, such as Apple (US), Lenovo Group (Hong Kong), Huawei (China), Samsung Electronics (South Korea), OPPO (China), LG Electronics (South Korea), Micromax Informatics (India), and Xiaomi (China), in the region.