Led by a large pool of players, the global market for image detection
sensors have been displaying a consolidated and a competitive
landscape, finds a new research report by Transparency Market
Research, (TMR). The top four players in this market, namely, FLIR
Systems, Cognex, Emerson Electric Co., and Texas Instruments Inc.,
accounted for more than 70% of this market in 2015.
With a lower scope of new companies entering the market, the
competition within it is likely to remain so over the next few years,
states the research report.
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According to the study, the global image detection sensor market was
worth US$9.67 bn in 2015. Rising at a CAGR of 9.60% during the period
from 2016 to 2024, the opportunity in this market is likely to reach
a value of US$22.01 bn by the end of the forecast period. In terms of
technology, the CMOS segment has been leading this market and is
expected to remain doing so in the near future, thanks to the
increasing awareness among consumers regarding the benefits of CMOS,
such as single chip IC integration and low power dissipation.
Asia Pacific to
Continue as Market Leader
The report also presents a geographical analysis of the worldwide
market for image detection sensors. According to it, the Middle East
and Africa, Europe, North America, Latin America, and Asia Pacific
are the key regional markets for image detection sensors across the
world. In 2015, Asia Pacific led the global market with a share of
more than 35%.
Analysts anticipate it to remain on the top over the forecast period,
thanks to the increasing application of image detection sensing
technology in automobiles, consumer electronics, and defense
application in this region. The upswing in the application of thermal
sensors in the aerospace and defense industry is also expected to
drive the Asia Pacific market for image detection sensors in the near
future.
On the basis of application, the market segments the global image
detection sensors market into photography and imaging. The imaging
segment has occupied the leading position in this market. However,
photography has the necessary potential to rise further in the next
few years.
Widespread Usage
of CMOS and CCD Sensors in Various Cameras to Boost Market
“The global image detection sensor market is being heavily
influenced by the rising application of image detection sensors in
the automotive, consumer electronics, and the healthcare sectors,
says an analyst at TMR. Nowadays, CMOS and CCD sensors are finding a
widespread application in PC cameras, point-and-shoot cameras, mobile
front and back cameras, tablet displays, and lighting solutions,
which, coupled with technological advancements, is likely to boost
this market substantially during the forecast period.
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Going forward, the increasing application of image detection sensors
in applications for photography in consumer electronics and the
wide-ranging usage of CMOS sensors in smartphone cameras, owing to
their cost efficiency will benefit this market remarkably over the
next few years. However, the declining demand for still cameras and
the increasing price sensitivity in the consumer products market may
hamper the progress of the global image detection sensor market in
the years to come, states the research report.
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