San Francisco, Oct. 11, 2016 (GLOBE NEWSWIRE) — The global image sensor market is anticipated to reach USD 26.41 billion by 2024, according to a new report by Grand View Research, Inc. The industry is poised for an unprecedented growth over the forecast period owing to the rising expenditure on security & surveillance in public places across regions and increasing disposable income across the emerging and developing economies. The impact of information technology in the automotive, defense, medical, and industrial application has driven the demand for image sensors over the projected period.
Increasing adoption of technologies for improving anti-terror equipments mitigating the security lapses has demanded for better camera resolution, which has further enhanced the market growth. The IP cameras are expected to have a significant growth over the forecast period as compared to analog cameras, which is due to higher resolution, secure transmission, ability to cover more distance, high-speed recording, and lower cable cost. Consumer electronics is expected to be the key application segment having the significant penetration and is also anticipated to grow at a considerable rate over the forecast period. The leading companies in the market are seeking new revenue sources as the smartphone market is attaining maturity. This has resulted in increased demand for the image sensors in the wearable industry and other applications.
The increasing R&D expenditure on the deployment to have a raw material access is expected to compel the backward integration at the buyer’s end. For instance, Beijing-based Hua Capital Management Co., Ltd. planned to acquire U.S-based OmniVision Technologies, Inc. in 2016 to overcome the supply shortage in the market.
Browse full research report with TOC on “Image Sensor Market Analysis By Technology (CMOS And CCD), By Application (Automotive, Consumer Electronics, Industrial/ Defense, Security & Surveillance, And Medical), And Segment Forecasts Till 2024” at:http://www.grandviewresearch.com/industry-analysis/image-sensors-market
Further key findings from the report suggest:
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Grand View Research has segmented the image sensor market on the basis of technology, application, and region:
Image Sensor Technology Outlook (Revenue, USD Million, 2014 – 2024)
Image Sensor Application Outlook (Revenue, USD Million, 2014 – 2024)
Image Sensor Regional Outlook (Revenue, USD Million, 2014 – 2024)
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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