New York, March 23, 2023 (GLOBE NEWSWIRE) -- By 2032, the market for CMOS image sensors is anticipated to reach a value of US$ 40.6 billion. It saw a 7.4% CAGR from 2023 to 2032. By 2022, the CMOS Image Sensor Market is anticipated to be worth US$ 19.8 billion.
With the enormous popularity of facial recognition technologies, the CMOS image sensor market is anticipated to expand. Within the next ten years, growth is predicted to be fueled by federal programs for smart cities.
The primary driver of market expansion worldwide is increasing demand for smartphones among millennials. Usage of cameras and image sensors in smartphones has risen globally, which has been advantageous for the consumer electronics industry.
When considering whether to employ natural image sensors in smartphones, widespread use of mobile photography is now a crucial consideration. These businesses make cell phones with up to five lenses in a single unit. CMOS image sensors are found in single-lens reflex (SLR) cameras, computers, telephones, and other technology.
As smartphones nowadays come with cameras, image capture has drastically expanded along with the rate of smartphone adoption. These factors are anticipated to drive the sensor technology market. CMOS technology has seen considerable adoption rates due to increased demand for high-definition image-capturing equipment across a range of industries.
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Size of image sensors affects the security camera's range of vision and light sensitivity. It also has an impact on the necessity of security cameras.
Most of the security camera systems include CMOS image sensors. It allows for quick speed while using less energy.
The efficiency of CMOS image sensors is increasing constantly. It is advancing toward high performance levels with enhanced integration potential and financial benefits.
For instance, smartphones offer wireless connectivity, a camera, and music playback capabilities. Demand for CMOS image sensors is increasing as a result of the surging popularity of these features in all-in-one devices.
Key Takeaways from CMOS Image Sensor Market:
- The global CMOS image sensor market showcased a CAGR of about 8.3% from 2017 to 2021.
- North America is likely to showcase a CAGR of about 40.2% in the assessment period.
- The USA CMOS image sensor market is expected to reach a valuation of US$ 12.7 billion by 2032.
- Japan CMOS image sensor market would create an absolute dollar opportunity of US$ 1.4 billion in the forecast period.
- By application, the consumer electronics category is predicted to expand by 7.2% CAGR from 2023 to 2032.
“Increasing investments in security and surveillance in public spaces across the globe are predicted to fuel the CMOS image sensor market. Increasing use of technology to improve anti-terrorist tools would also promote growth.” – Says a lead analyst.
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Competitive Landscape: CMOS Image Sensor Market
The global CMOS image sensors market is tremendously competitive as a result of fierce competition and the creation of novel technologies by leading brands. In the market that is being studied, brand identity importance is quite important. Experienced players have a benefit over the fierce competition owing to their high brand equity.
For instance,
- In September 2021, Toshiba Corporation launched CoaXpress 2.0 Camera EX Series named EX370BMG-X. EX370BMG-X Series is an integrated camera with a CoaXPress 2.0 interface. The EX Series' 37.7MP CMOS sensor gives it a large field of view. CXP-12 Quad technology enables fast picture transmission. The chassis, which is only 60 mm square, is simple to install. The lens-mountless design enables the use of various lenses depending on the needs of applications.
Get More Exclusive Insights into CMOS Image Sensor Market Study
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the CMOS image sensor market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2023 to 2032.
The study reveals extensive growth in the CMOS image sensor market in terms of
- Technology (front side illuminator, back side illuminator),
- Application (consumer electronics, automobiles, industrial, aerospace, defense, surveillance, healthcare), and
- Regions (North America, Latin America, Europe, Asia Pacific, Middle East and Africa)
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