Rising adoption of image cameras for automotive applications and rising demand for image sensor solutions for security and surveillance are driving the growth of the Asia Pacific image sensor market .
PORTLAND, Oregon., February 23, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Asia Pacific Image Sensor Market by technology (CMOS image sensor (FSI and BSI) and CCD image sensor) and application (consumer electronics, defense and aerospace, medical, industrial, automotive and security and surveillance): analysis of opportunities and forecasts of the industry, 2021-2030. » According to the report published by Allied Market Research, the Asia Pacific the image sensor industry has been estimated to $10.60 billion in 2020, and should reach $34.15 billion by 2030, registering a CAGR of 12.8% from 2021 to 2030.
Drivers, constraints and opportunities-
Increasing adoption of image cameras for automotive applications, increasing use of image sensors in enhanced medical imaging solutions, and increasing demand for sensor solutions from image for security and surveillance drive the growth of the Asia Pacific image sensor market. On the other hand, the increase in the adoption of CCD image sensors is limiting the growth to some extent. However, the increased adoption of image sensor cameras in autonomous vehicles is expected to create lucrative opportunities in the industry.
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The increase in the penetration of consumer electronics such as laptops, smartphones and PCs has been the main factor driving the Asia Pacific image sensor market during the pandemic.
On the contrary, the market was mainly hit by several hurdles that were created amid the Covid-19 pandemic, such as lack of availability of skilled labor and delay or cancellation of projects due to of a partial or full global lockdown.
These factors had a mixed impact on the Asia Pacific image sensor market.
The CMOS image sensor segment to retain the lion’s share
By technology, the CMOS image sensor segment held the major part in 2020, garnering more than four-fifths of Asia Pacific image sensor market. The same segment is also expected to quote the fastest CAGR of 13.3% throughout the forecast period. This is attributed to the fact that CMOS image sensors are increasingly used in machine vision solutions. The research also analyzes the CCD image sensor.
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Consumer electronics segment will dominate by 2030-
By application, the consumer electronics segment captured the lion’s share in 2020, holding nearly four-fifths of the Asia Pacific image sensor market. Increase in the use of image sensor technology in Internet of Things solutions such as TV, mobile and others is driving the growth of the segment. However, the defense and aerospace segment is expected to show the fastest CAGR of 15.5% from 2021 to 2030. segment growth.
Japan held the bulk in 2020-
By region, Japan dominated in 2020, collecting almost a third of the Asia Pacific image sensor market. The increasing deployment of applications based on next-generation image sensors propels the market into Japan. The market through India, on the other hand, is expected to quote the fastest CAGR of 15.3% throughout the forecast period. This is due to the fact that the major players in the market have developed and adopted various advanced strategies to increase the penetration of electronic equipment powered by image sensors.
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Key Industry Players-
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SOURCE Allied Market Research