Image Sensor Market to reach US$ 41.672 Billion, Expanding Smartphone Industry Propels by 2032 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
Europe accounts for a 21.3% share of the total global image sensor market. North America accounts for a total 25.3% share of the global image sensor market. North America was the fastest growing market for the image sensor market and the trend is expected to continue into the forecast period owing to the increased technological advancement in the region.
DUBAI, United Arab Emirates: , Sept. 28, 2022 (GLOBE NEWSWIRE) -- The global image sensor market is expected to reach a valuation of US$ 41672.3 Mn by 2032, with the market growing at a healthy CAGR of 6.7% from the forecast period of 2022 to 2032. In 2022, the image sensor market is expected to reach an estimated US$ 21725.8 Mn. The escalation in the usage of devices equipped with a camera propels the image sensor market to expand at a positive growth rate over the forecast period.
Image sensors are primarily of two types- CCD and CMOS image sensors. CMOS image sensors are preferred to CCD ones as they have high integration on the chips to ensure better performance, miniaturized integrated circuits.
The general market for image sensors is expanding at a positive rate due to improved image processing, optics, and interfaces. The high-quality image sensors aid in lessening the time and effort spent on sensor-related corrections.
The greater market penetration of smartphones and wide-scale usage of mobile devices with a dual camera feature has boosted the demand for image sensors. In addition to this, the growing demand and preference for selfie phones has also increased the demand for image sensors with better front cameras. Owing to the availability of low-cost CMOS image sensors are attracting mass incorporation into mobile devices. All of these factors bode well for the image sensors market.
The growing desire to take better quality photos, the high integration of cameras into smartphones, along with the advancing smartphone penetration rate, fuel the market growth of image sensors during the projected period. Moreover, the CMOS technology is registering a high adoption rate because of its faster shutter speed while delivering high-quality images. This, in turn, drives the growth of the image sensor market.
“Heightened demand for smart devices with high-resolution cameras is expected to stimulate the global growth of the image sensor market over the forecast period,” says an FMI analyst.
Application of image sensors in the automotive industry will create new opportunities.
High cost of manufacturing may hinder the market growth.
North America holds about 25.3% of the global market share.
Europe accounts for about 21.3% of the image sensor market.
Asia Pacific is expected to offer many lucrative opportunities to the image sensor market.
Start-ups in this market are focusing on product innovation, specialization and application of advanced technology.
Competitive Landscape
Toshiba Corporation, Sharp Corporation, Sony Corporation, Panasonic Corporation, Samsung Electronic among others are some of the major players in the image sensor market profiled in the full version of the report.
In a highly competitive market, leading market players are focusing on product development and releasing new products. These businesses are keen on adopting advanced technology to gain a competitive edge.
In its latest report, FMI offers an unbiased analysis of the global image sensor market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of types (CMOS image sensor, CCD image sensor), application (image sensor for smartphones, image sensor for cameras, image sensor for wearable electronics, image sensor for surveillance, image sensor for others), and region.
According to the latest FMI reports, based on region, the image sensor market in North America is predicted to undergo impressive growth during this period of observation. The market in this region accounts for 25.3% of the overall market share. This growth can be attributed to the rapid technological growth in this region.
The ever-expanding electronics industry and the increasing use of smart electronic devices further supplements the market growth. Aside from the U.S., Europe and the Asia Pacific are also anticipated to display notable market growth with Europe holding 21.3% of the market share and the Asia Pacific region offering newer and attractive market opportunities during the forecast period.
The image sensor market in Europe is primarily driven by the rising technological advancement in image sensor technology, growing demand for image sensors, and the elevated use of programmable and fully integrated sensors. In the Asia Pacific region, China, as prominent electronics producer and consumer, is driving the target market growth.
Explore FMI’s Extensive Coverage on Technology Domain
Wireless Antenna Market Size: The global wireless antenna market is projected to reach US$ 4,700.0 million in 2022. Based on the report, sales of wireless antenna will soar at a CAGR of 5.30 % to reach an evaluation of US$ 7,871.0 million by 2032.
Artificial Intelligence in Telecommunication Market Demand: The global artificial intelligence in the telecommunication market size is projected to be valued at US$ 918.6 Mn in 2022 and is anticipated to reach US$ 10,399.9 Mn by 2032, with a rapid CAGR of 27.5% from 2022 to 2032.
Retail Colocation Market Analysis: The global retail colocation market is projected to amass a revenue of around US$ 27,554.0 million by 2032, up from US$ 8,645.0 million in 2022 moving forward with a CAGR of 12.3% during the forecast period.
Private LTE Market Trend: The global private LTE market is forecasted to be appraised at US$ 17,550.0 million by 2032, up from US$ 5,155.0 million in 2022, advancing at a CAGR of 13.0% during the forecast period.
Remote Asset Management Market Growth: The remote asset management market is anticipated likely to record a CAGR of 10.9% during the forecast period, up from US$ 25,219.8 Mn in 2022 to reach a valuation of US$ 75,553 Mn by 2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us: Future Market Insights Inc. 1602-6 Jumeirah Bay X2 Tower, Plot No: JLT-PH2-X2A, Jumeirah Lakes Towers, Dubai, United Arab Emirates For Sales Enquiries: sales@futuremarketinsights.com
