What is the present valuation and projected CAGR of the image sensors market?
The image sensors market size has grown strongly in recent years. It will grow from $26.18 billion in 2024 to $28.64 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increased medical imaging, increased mobile cameras, and increased demand from automotive industry.
The image sensors market size is expected to see strong growth in the next few years. It will grow to $40.63 billion in 2029 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing demand for high-quality imaging in autonomous vehicles, increasing consumer electronics, and growing population. Major trends in the forecast period include partnerships, product innovations, and technological advancements.
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What are the top drivers to the rising demand in the image sensors market?
The increasing number of autonomous vehicles is expected to propel the growth of the image sensors market going forward. Autonomous vehicles are self-driving cars that employ advanced sensor technologies, computer systems, and artificial intelligence to operate and navigate without constant human intervention or monitoring. Autonomous vehicles have the potential to significantly reduce accidents caused by human error, which accounts for a large percentage of traffic collisions, and improve overall transportation efficiency by communicating with each other and coordinating their movements. Image sensors, combined with computer vision algorithms, enable autonomous vehicles to detect and recognize objects such as pedestrians, other vehicles, traffic signs, and obstacles on the road. For instance, in December 2022, according to the National Association of Insurance Commissioners, a US-based non-profit organization, there are expected to be 3.5 million autonomous vehicles on American roads by 2025 and 4.5 million by 2030. Therefore, the increasing number of autonomous vehicles drives the image sensors market.
How is the image sensors market segmented?
The image sensors market covered in this report is segmented –
1) By Type: Area Image Sensors, Linear Image Sensors
2) By Technology: Complementary Metal-Oxide-Semiconductor (CMOS), Charge-Coupled Device (CCD), Other Technologies
3) By Processing Type: 2D Image Sensors, 3D Image Sensors
4) By Spectrum: Visible Spectrum, Non-Visible Spectrum
5) By End-User Industry: Consumer Electronics, Healthcare, Industrial, Security And Surveillance, Automotive And Transportation, Aerospace And Defense, Other End-User Industries
Subsegments:
1) By Area Image Sensors: CCD (Charge-Coupled Device) Image Sensors, CMOS (Complementary Metal-Oxide-Semiconductor) Image Sensors
2) By Linear Image Sensors: CCD Linear Image Sensors, CMOS Linear Image Sensors
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Who are the top competitors in the image sensors market?
Major companies operating in the image sensors market are Samsung Electronics Co., General Electric Company, Sony Corporation, Panasonic Corporation, SK Hynix Inc., Toshiba Corporation, Canon Inc., STMicroelectronics NV, Micron Technology Inc., Infineon Technologies AG, ON Semiconductor Corporation, Ams AG, Hamamatsu Corp., Omnivision Technologies Inc., Tower Semiconductor, Sharp Electronics Corporation, Himax Technologies Inc., FLIR Systems Inc., Teledyne Dalsa Inc., PixArt Imaging Inc., PMD Technologies GmbH, GalaxyCore Inc., Raytek Corporation, Pixel Plus AG, New Imaging Technologies (NIT)
What significant trends should we anticipate in the image sensors market over the forecast period?
Major companies operating in the image sensors market are developing complementary metal oxide semiconductor (CMOS) image sensors to cater to the growing demand for high-performance imaging solutions across various industries. A CMOS image sensor is widely used in digital cameras, smartphones, and different imaging devices, including those employed in autonomous vehicles. For instance, in November 2023, Sony Semiconductor Solutions, a Japan-based company, launched a new CMOS image sensor. It is specifically designed for automotive cameras. The sensor boasts an industry-leading 17.42 effective megapixels, enabling high-definition capture of distant objects and supporting the development of advanced automotive camera systems capable of sophisticated sensing and recognition performance. The IMX735 features a wide dynamic range of 106 dB, even when simultaneously employing high dynamic range (HDR) imaging and LED flicker mitigation, ensuring high-quality images in various lighting conditions.
Which regional trends are influencing the image sensors market, and which area dominates the industry?
North America was the largest region in the image sensors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the image sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Image Sensors Market Report 2025 Offer?
The image sensors market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Image sensors are electronic devices that convert light into an electrical signal to create digital images. The primary purpose of image sensors is to capture visual information from the environment and convert it into electronic data. Image sensors are vital for capturing and processing visual information in numerous applications, ranging from everyday consumer devices to advanced industrial and scientific equipment.
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