Latest “Image Sensor Market Study 2018” of 144 pages with 64 tables added by ReportsnReports explores in-depth analysis of Image Sensor market market drivers, restraints, opportunities, industry-specific challenges with forecast to 2023. Report also gives comprehensive information on Image Sensor Market size, share, growth, trends, and opportunity analysis from 2017 to 2023. The The overall image sensor market was valued at USD 14.19 billion in 2017 and is expected to reach USD 24.80 billion by 2023, growing at a CAGR of 9.75% between 2017 and 2023.
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Access complete report at: Image Sensor Market Analysis 2018 to 2023
Key Players analysed in report are Sony (Japan), Samsung (South Korea), OmniVision (US), On Semiconductor (US), Panasonic (Japan), Canon (Japan), SK Hynix (South Korea), STMicroelectronics (Switzerland), Pixart Imaging (Taiwan), PixelPlus (South Korea), Hamamatsu (Japan), ams (Austria), Himax (Taiwan), Teledyne (US), and Sharp (Japan).
“The overall image sensor market is expected to grow at a CAGR of9.75%”
The overall image sensor market was valued at USD 14.19 billion in 2017 and is expected to reach USD 24.80 billion by 2023, growing at a CAGR of 9.75% between 2017 and 2023. Major factors driving the growth of the image sensor market include the increasing penetration of image sensors in automobiles, the trend of miniaturization and dual camera in smart phones and tablets, demand for improved medical imaging solutions.
Innovation by OEMs will lead to the increase in the use of image sensors in applications such as machine vision, ADAS, and wearable’s and will offer great opportunities for the image sensor market.
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However, high manufacturing cost of image sensors is restraining the growth of this market. Images captured using low-megapixel cameras have numerous drawbacks.
The image quality of such images gets reduced while zooming in, cropping, or taking prints. Hence, the demand for high-megapixel cameras is growing.
To increase the number of pixels, manufacturers either have to increase the chip size or shrink the pixel pitch. However, a larger chip size would incur higher cost.
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“Area image sensors are expected to hold the largest market share by 2023”
The market for area image sensors is expected to grow at a higher rate compared to linear image sensors, mainly because of the rising demand for camera modules in smart phones and tablets. Another reason for the rise in the use of area image sensors is that it offers features such as high sensitivity, high quality of images, and high performance.
These features help in reducing noise through the use of technologies such as color noise reduction (CNR) and high dynamic range (HDR).
“APAC to be the fastest growing market for image sensors”
More than 80% of the demand for image sensors is from the consumer electronics application, which includes smart phones and tablets, cameras, computers, and wearable electronics. With the increasing penetration of dual camera in smart phones, the demand for image sensors is expected to increase.
Automotive is another application that will contribute to the growth of the image sensor market in APAC.
China is the largest producer of automobiles in the world. The development of advanced driver assistance system (ADAS) for automotive application is also expected to boost the demand for image sensors.
It has been observed that with the development of ADAS, the number of cameras installed in a vehicle will be more than ten. This will create a huge demand for image sensors in automotive application.
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This research report categorizes the overall image sensor market based on technology, processing type, spectrum, array type, vertical, and geography. The report describes major drivers, restraints, challenges, and opportunities’ pertaining to the market, as well as it provides the value chain analysis.