Global Image Sensors Market: Overview
Between 2019 and 2027, the global image sensors market is set to chart and impressive growth rate, owing to rising demand for high-definition cameras – in smartphones, laptops, as security cameras and also camcorders.
It does not really come as a surprise that better images are what the clamor is about, thanks to a generation of very visual people, forever in search of the next great Instagram picture. Besides, good cameras are needed in media, automotive and medical industry. Some of the industrial and consumer applications also need high quality of imaging to create better outcomes.
In fact, in automotive, there are strict government regulation regarding safety cameras and driver assistance. Besides, a high level of innovation in the market is all set to help the market stay on a high growth trajectory over the forecast period.
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Global Image Sensors Market: Notable Development
The global image sensors market is witnessing numerous developments that are not just significant for players to take note of but also to understand how the market would operate over the coming years. An in-depth dive in can be had in our upcoming report.
2018: Sony launched IMX586, the highest resolution image sensor camera in the smartphone world. It was a great move forward for camera enthusiasts as it ramped up resolution to 48 megapixels. The move is set to propel other smartphones players into action for a larger share in the market.
The global image sensors market is fragmented with intense competition marking the landscape and prominent players in the market include Canon Inc., Samsung Electronics Co. Ltd., Sony Corporation, ams AG, STMicroelectronics N.V., and ON Semiconductor Corporation, among others. Players in the market are entrenched in research and development, in their efforts to innovate and revolutionize the market landscape. Other strategies deployed by market players to stay ahead of the competition include product diversification, mergers and acquisitions, and strategic collaborations and partnerships.
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Global Image Sensors Market: Key Trends and Drivers
Certain factors are shaping the growth curve for global image sensors market. They are paving the way for how market would operate over the coming years. A glimpse is shared below.
- Integration of camera in smartphones has been a key driver in the growth of the global image sensors market. This is a result of adapting to the consumer need of having the convenience of taking a snapshot at the tips of one’s fingertips. Candids are appreciated and no memory is worth missing. And, this leads to demand for image sensors, helping the market take on an upward curve over the forecast period. And, thus, it also does not surprise anyone that most of the smartphone companies play on the cameras as their USP to attract more consumers.
- Advanced Driver Assistance System (ADAS) is critical in ensuring safety while driving. Coupled with self-driving cars, this will lead to growth in the global image sensors market significantly. Rising rate of accidents on the roads is also supporting this growth in the market.
Global Image Sensors Market: Geographical Analysis
Owing to stringent safety related mandates, particularly in the automotive industry, the North American region will be one of the most significant one in the global image sensors market. Besides, the region is characterized by high research and development, and thus by a high technological advancement and innovation. The level of industrialization is very high and the rising rate of accidents is contributing positively to the growth of this market. Additionally, federal traffic regulations are pushing growth in the market.
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