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Global Image Sensors Market to Reach USD 32.5 Billion by 2027, Aided by the Increasing Automotive Applications

According to a new report by EMR titled, ‘Global Image Sensors Market Report and Forecast 2022-2027’, the global image sensors market reached a value of more than USD 19 billion in 2021. The industry is expected to grow at a CAGR of 9.30% in the forecast period of 2022-2027 to reach USD 32.5 billion by 2027.

In the field of image sensors, medical diagnostics is becoming increasingly popular. The market for medical image sensors, which is driven by applications of image sensors in x-ray imaging and endoscopy, is expected to rise in response to the growing scope for diagnostics in the medical industry. Increasing the use of high-resolution cameras with image sensors in mobile devices will provide this market with significant growth potential throughout the forecast period. Quadruple, triple, and dual camera configurations are becoming more popular, which is driving market expansion. Additionally, the increasing usage of advanced driver assistance systems (ADAS) in vehicles may be contributing to market expansion. Due to increased spending on security and surveillance in public spaces across regions and rising disposable income in emerging and developing nations, the market is positioned for exceptional growth during the forecast period.

The presence of significant firms and their extensive customer base will contribute to significant revenue growth in the image sensors market. The IMX415 type 1/2.8 4K-resolution stacked CMOS image sensor and the IMX485 type 1/1.2 4K-resolution back-illuminated CMOS image sensor was unveiled by Sony Corporation (NYSE: SONY) in June 2019. Sony created these two new security camera sensors to address the rapidly growing need for security cameras in a variety of monitoring applications, such as disaster alert, anti-theft, and traffic monitoring systems or commercial complexes.

Market Analysis by Type, End User, and Regions:

  • Based on type, the market is divided into CMOS and CCD.
  • The major end-users of the industry are automotive and transportation, consumer electronics, security and surveillance, industrial, healthcare, aerospace and defence.
  • The regional markets for image sensors include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Rapid industrialisation is expected to boost the market for image sensors.
  • Growing research and development activities by prominent companies is augmenting the growth of the market.
  • Major contribution made by the automotive sector and an increase in safety-related mandates owing to an increase in accidents are adding to the image sensor market growth.
  • The image sensor industry is also predicted to benefit from government legislation for customer demand for active safety features.

Key Offerings of the Report:

  • The EMR report gives an overview of the global image sensors market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for type, end user, and major regions of image sensors.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global image sensors industry are Sony Semiconductor Solutions Corporation, Samsung Electronics Co., Ltd., OmniVision Technologies, Inc., STMicroelectronics International N.V., Panasonic Corporation, and CMOS (Complementary Metal Oxide Semiconductor) Sensors Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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