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Image Sensor Market Competitive Landscape and Industry Analysis Research Report by 2027
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Image sensors are integrated into devices for capturing images of all possible resolutions. They are classified as per sensor format, frame rate, pixel size, and resolution. Development of new sensors as per the miniaturization of processors and upgrades of software in novel devices can provide scope to the image sensor industry. The global image sensor market report by Market Research Future (MRFR) looks at various market dynamics and the impact of the COVID-19 pandemic for the period of 2015 to 2021 (forecast period).
The global image sensor market is expected to grow above 10% CAGR over the forecast period. The major growth driver of image sensors are rising demand for camera enabled mobile phones, low power consumption and compactness of CMOS image sensor, and increased use of image sensors in biometric applications. Incorporation of high-resolution cameras with sensors in portable devices can bode well for the market. The influence of social media and allure of celebrity culture can drive its demand in new devices which are compatible with its subsequent upgrades. The sales of smartphones, wearables, and smart devices can influence the market demand greatly over the forecast period.
The global image sensor market is segmented by application, technology, operating spectrum, and array type.
By application, it is segmented into digital still cameras (DSC), mobile phones, security & surveillance, tablets, PC camera, automotive, and medical imaging.
By technology, it is segmented into CCD, CMOS, and others. The CMOS segment is expected to perform exceptionally owing to its integration in tablets, mobile phones, and PC cameras. On the other hand, CCD image sensors can face a decline in growth rate pegged at 2.5% CAGR over the forecast period. The low demand can be attributed to low costs of CMOS image sensors.
SK Hynix Inc., Aptina Imaging Corporation, OmniVision Technologies Inc., Samsung Semiconductor Inc., GalaxyCore Inc., Himax Imaging, STMicroelectronics NV, Sony Corporation, and others are key players of the global image sensor market. Investments by venture capital firms and seeding rounds by investors are evident of the large potential of the market. For instance, Newsight Imaging Ltd. gained USD 7 million in financing for accelerating its product development process and augmenting its sales.
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