An image sensor is a device used to convert an optical image presented by a lens into an electrical signal, which is mostly used in digital cameras, camera modules, and other imaging devices. Today, most imaging devices make use of either a CCD or CMOS sensor.
Image Sensors Market has constantly experienced significant demand in the past 5 years. This growing popularity has made the manufacturers highly competitive to stay updated and devise new and advanced solution to enhance pixel size, pixel count, resolution, and performance. These high-end properties help them to maintain the demand for image sensors in the global market.
According to IndustryARC Market Research, the Image Sensors Market is projected to reach $17.8 Billion by 2020 and will grow at 12.84% CAGR during the forecast period 2014-2020.
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MARKET TRENDS AND MARKET GROWTH:
Geographical Gist of the Image Sensors Market:
North America has been the leading region in Image Sensors Market in the last few years followed by APAC, confirms market research study. Whereas, APAC would lead the Image Sensors Market by the end of 2020, according to projections; and would contribute to a huge share of the overall revenue, owing to the significant increase in demand for consumer electronics and use of robotics, machine vision based systems in the Asian market.
Segment Wise Analysis:
The automotive sector is expected to grow at a high CAGR during the forecast period 2014-2020. Consumer electronics was noted to have held the major share of the Image Sensors Market earlier. The growing trend of dual camera mobile phones is expected to double the shipments of image sensors, thus driving the consumer electronics sector of the Image Sensors Market. CMOS is winning the battle against the CCD segment of the total market.
Market Applications Brief: