Image sensor market maintains growth, demand surges in Asia

It is calculated that the global image sensor market in 2020 will be approximately US$17.6 billion. The market revenue is expected to reach approximately USD 48 billion by 2030, growing at a CAGR of 10.7% during the forecast period from 2021 to 2030.

The global image sensor market is expected to gain traction in the coming years due to the automotive industry's upgraded demand for image sensor technology. Image sensors are very useful in converting optical images into electronic images. Therefore, the demand for image sensors is expected to increase due to their application in digital cameras.

Furthermore, continued advancements in complementary metal oxide semiconductor (CMOS) imaging technology will have a positive impact on the growth of the global image sensor market. Recent advances in CMOS technology have improved the visual representation of machines. Furthermore, cost-effectiveness along with better performance of these technologies will drive the growth of the global image sensor market during the analysis period.

The growing popularity of smartphones and advancements in the industry are driving the growth of the global image sensor market. The trend of dual cameras in smartphones and tablets is expected to accelerate the growth of the global image sensor market. Furthermore, the excessive demand for advanced medical imaging systems will provide several promising opportunities to key market players over the forecast time frame.

Several companies are developing advanced image sensors with artificial intelligence capabilities. Sony Corporation (Japan) recently launched the IMX500, the world’s first smart vision sensor that can automatically perform machine learning and enhanced computer vision operations. Hence, these advancements are expected to drive growth of the global image sensor market in the coming years.

Furthermore, the growing trend of smartphone photography has surged the demand for image sensors to provide clear and high-quality output. The growing demand for 48 MP and 64 MP cameras will lead to the growth of the global image sensor market in the future.

Asia Pacific is expected to hold the largest share in the global image sensor market and generate the highest revenue. The region's growth is attributed to increasing R&D activities. In addition, the increasing number of accident cases in the region is promoting the use of ADAS (advanced driver assistance systems), as well as advanced image sensing capabilities. Hence, the demand for image sensors in the region will surge during the forecast period.

The use of image sensors in smartphones has been a key reason for the market growth. However, demand for smartphones has severely declined during the pandemic. Hence, it has rapidly slowed down the growth of the global image sensor market.

Click " Read Original " to refer to the original English text.

*Disclaimer: This article is original by the author. The content of the article is the personal opinion of the author. The reprinting by Semiconductor Industry Watch is only to convey a different point of view. It does not mean that Semiconductor Industry Watch agrees or supports the view. If you have any objections, please contact Semiconductor Industry Watch.

Today is the 3303rd issue of "Semiconductor Industry Observation" shared with you . Welcome to pay attention.