ResearchAndMarkets.com recently added the “Global CMOS Image Sensor Market - Forecasts from 2019 to 2024” to its market report offerings. According to the report, the CMOS image sensor market is projected to reach USD 17.919 Billion by 2024, rising from USD 11.764 Billion in 2018, at a CAGR of 8.59%.
The prime drivers for this market are the increasing usage of CMOS sensors in consumer electronics products and rising demand for automobile driver assistance. In addition, the introduction of new 8K resolution technology and lower light picture caption are helping to get a clearer picture of an object which in term is fueling demand of CMOS image sensors in security and surveillance system. The shutter technology and low-temperature variation are also helping in driving the demand for this market. Although, the presence of a substitute in the form of CCD (Charge Coupled Device) image sensors coupled with the shortage of an appropriate number of CMOS image sensors in the market will restrain the growth of the CMOS image sensor market.
The CMOS image sensor market is segmented into technology (Front Side Illumination, Back Side Illumination), image processing (2D, 3D), and end-user (Consumer Electronics, Security and Surveillance, Automotive, Healthcare, Aerospace and Defense, Others). The consumer electronics market will see substantial growth in the CMOS image sensor market during the forecast period owing to rising applications of this sensor in devices like mobile phones, and tablets. The wide usage of CMOS image sensors in digital cameras will be one of the main drivers behind the boom in the consumer electronics CMOS image sensor market. The security and surveillance industry hold a noticeable market share due to more usage of CMOS image sensors in biometrics, CCTV, IP networking and smart home automation.
In terms of region, the CMOS image sensor market has been classified into North America, South America, Middle East and Africa, Europe and Asia-Pacific. North America is enjoying a remarkable market share in the CMOS image sensor market because of higher applications of CMOS image sensors in the driver assistance program and the development of robotics. Moreover, this region gives more importance on the safety of the people which is creating more demand of CMOS image sensors in video mirror, driver monitoring, camera-enabled automatic emergency braking and autonomous driving applications of automotive industry. Asia-Pacific region is expecting to witness significant growth due to higher growth of the automotive industry and rising numbers of smartphone user. China and India are investing more in the automotive industry which will aggregate more demand in this region.
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