The growing application of image detection sensors in consumer electronics, automotive and healthcare sector is having a very strong influence on the growth of the global image detection sensor market. The technological advancements and the expanding application range of CMOS and CCD sensors, such as in lighting solutions and displays for tablets, PC cameras, mobile front and back cameras, and point-and-shoot cameras, are also adding substantially to the market’s progress.
Over the forthcoming years, the rising usage of image detection sensors in photography application for consumer electronics is expected to drive the growth of the market significantly. The widespread application of CMOS sensors have in smartphone cameras, thanks to the single chip integration and the relatively low price of these sensors, is also projected to benefit this market in the near future.
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In 2015, the global image detection sensor market was valued at US$9.67 bn. Progressing at a CAGR of 9.60% between 2016 and 2024, the opportunity in this market is likely to reach a value of US$22.01 bn by the end of 2024. Although, the market looks flourishing at present, the declining demand of still camera may limit the demand for image detection sensors, hindering the market’s growth over the years to come.