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The global image sensor market size is estimated to reach USD 29.99 billion by 2026. This is attributable to the increasing popularity of electronic gadgets such as digital cameras, smartphones with high picture quality, and other imaging devices in consumer electronics. Fortune Business Insights™ provides a detailed analysis of the market and its competitive landscape in their recently published report titled, “Image Sensor Market Size, Share & Industry Analysis, By Technology (CCD Sensor, CMOS Sensor), By Processing Type (2D, 3D), By Application (Consumer Electronics, Automotive, Healthcare, Surveillance & Security, Others), and Regional Forecast, 2019-2026.” According to the report, the market value was USD 15.93 billion in 2018 and is anticipated to witness a CAGR of 8.4% in the forecast duration, 2019 to 2026.
Launch of Machine Vision with 3D Imaging Sensor by OmniVision Technologies to Attract High Revenue
Upcoming technologies such as computer vision and machine vision are likely to indicate the high revenues attracted to the overall market, especially with the advent of the 3D sensor. The advent of Time-of-flight technology (TOF) will help deal with 3D image sensors for various applications such as 3D biometric identification, 3D scanning, hand gesture, and body tracking. For Instance, a 3D imaging machine vision launched by Omni Vision Technologies will be applicable in the automotive sector for supporting the emerging technologies implemented in the vehicle. Apart from this, factors such as 3D computational photography and the use of 3D imaging sensors for smartphone augmented reality applications are anticipated to create lucrative image sensor market growth opportunities in the near future.
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Increasing Security and Surveillance Concerns and Rise in Demand for Drones to Augment Market
With the advent of technology, players are adopting various advanced technologies such as artificial intelligence, asset management, machine vision, and other innovations. The increasing popularity of CMOS technology will also help the market gain traction. Besides this, the increasing sale of high resolution smartphones and other imaging products in consumer electronics will help promote the imaging sensor market growth in the forecast period. Analysts at Fortune Business Insights™ states, “the rise in the adoption of drones for aerial photography is likely to increase the overall image sensor market size in the forecast duration.” Furthermore, government-promoted policies of 360-degree surveillance for all residential, industrial, and commercial applications will attract high image sensors market revenue in the years to come.
Companies Aiming for Top Position are Entering into Strategic Partnerships
Major imaging sensors market manufacturers are focusing on the development of 3D depth sensors, which play a crucial role in smartphones and for other purposes such as improved photo functions, reliable face image data, application in augmented reality, and others. To gain a competitive edge in the market competition, players are adopting strategies such as merger and acquisitions, company collaborations, and strategic partnerships.
Major industry developments of the Image Sensors Market include:
Significant players of the Imaging Sensor Market include:
Further Report Findings
The global Imaging Sensor Market is categorized into:
Value (USD billion)
By Processing Type