Report Forecasts Growth of Global Image Sensor Market for the Next 9 Years

Posted  by GoPhotonics

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Global Market Insights recently published a report on, “Image Sensor Market Size, By Technology, CMOS, By Processing, By End-Use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 - 2032”. According to the report, the Global Image Sensor Market was estimated at USD 20 billion in 2022 and is expected to surpass a valuation of $50 billion by 2032, progressing at a CAGR of 5% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.

Integration of advanced automotive features like lane change detection, motion tracking, and advanced driver-assistance system (ADAS) is expected to fuel the demand for image sensors in the automobile sector. Automakers are using high-resolution image sensors in their latest vehicle makes to offer multiple features like autonomous driving, rear view, front view, and surround view monitoring. Increasing use of NIR image sensors in automobiles to give improved vision in low-light circumstances will contribute to image sensor market growth.

Supportive government measures to accelerate developments in automation and robotics is estimated to drive lucrative demand for CMOS image sensors. Countries such as the U.S. and South Korea have taken multiple initiatives such as the Intelligent Robots Development and Distribution Promotion Act, and National Robotics Initiative for supporting R&D activities in the field of robotics. These robots are integrated with image sensors offering enhanced vision pixels and high-resolution color sensing capabilities.

Growing demand for ADAS and DMS in the automotive segment

Image sensor market from the CMOS image sensor technology segment accounted for over 85% share in 2022. Several automotive technologies, including surround cameras, e-mirrors, in-cabin monitoring systems, etc. utilize image sensors. These sensors deliver simultaneous high-quality HDR capturing which enables precise recognition regardless of the lighting conditions. Developments in image sensing technology by leading CMOS image sensor manufacturers like Sony, Samsung, and OmniVision should complement market expansion. Furthermore, the steady use of self-driving vehicles are projected to shape the image sensor industry trend.

Key reasons for image sensor market growth:

  1. Rising adoption of image sensors in automotive sector.
  2. Increasing smartphone production in Asia pacific region.
  3. Rising demand for the visual surveillance system.
  4. Government investments and initiatives for the robot industry.
  5. Growing demand for the remote monitoring in healthcare and medical sector.

Application of 3D image sensors in the industrial sector

Image sensor market share from the 3D image processing segment is forecasted to witness over 15% CAGR from 2023 to 2032. The use of 3D laser triangulation processes and 3D detection systems in the industrial sector is expected to offer lucrative opportunities for market expansion. These sensors are utilized in a variety of applications, including electronics and PCB inspection, measuring shapes and profiles, and measuring the height, length, width, tilt, or volume of surfaces.

Moreover, these sensors are used in factory safety and automation, construction sites, surveillance, and robot navigation. In January 2023, U.S. industrial conglomerate Teledyne Technologies’ Teledyne e2v announced the launch of its Hydra3D+, a new ToF (Time-of-Flight) CMOS image sensor that is tailored for versatile 3D detection and measurement.

Rising integration of robots in the manufacturing sector

Image sensors industry share from the industrial end-use segment is predicted to cross 6 billion units by 2032. The rise in the use of robots in the manufacturing sector as well as the demand for machine monitoring and inspection has fueled market expansion in recent years. It is estimated that the adoption of robots is increasing across companies.

Rising EV sales in Europe to spike image sensors demand

Europe image sensor market is expected to hold a share of over 20% by 2032 driven by increased sales of camera modules and ADAS systems in the automotive sector across the region. European countries like Germany are at the forefront of development vehicles with cutting-edge technologies. The demand for image sensors in the region is estimated to grow with the rise in demand for electric vehicles.

Introduction of new image sensors by leading market players

are a few of the leading solution providers in the global image sensor market. To remain competitive in the industry, these businesses are funding R&D for new technological advancements and product improvements.

Click here to read the research report titled, “Image Sensor Market Size, By Technology, CMOS, By Processing, By End-Use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 - 2032”.