CMOS Image Sensors Market Is Expected to Grow at a CAGR of 7.5% from 2014 to 2020: Grand View Research, Inc
Online, May 3, 2014 (Newswire.com) - The global CMOS image sensors market is expected to reach USD 10,172 million by 2020, according to a new study by Grand View Research, Inc. Increasing proliferation of smartphones, which are equipped with primary as well as secondary cameras, is expected to favorably impact industry growth. Growing demand in consumer electronics such as digital cameras is also expected to drive the market over the forecast period.
Growth in application markets, especially medical and automotive industries is expected to have a positive impact on CMOS images sensor demand over the next six years. Furthermore, decreasing prices and the development of Backside Illumination (BSI) technology is expected to enhance market penetration. Large number of benefits offered by CMOS image sensors over CCD counterparts is also expected to be a key factor for increased adoption.
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Further Key findings from the study suggest:
1. Global CMOS image sensors market volume was estimated at 1,601.8 million units in 2013, and is expected to reach 2,643.4 million units by 2020, growing at a CAGR of 7.5% from 2014 to 2020.
2. Consumer electronics is expected to remain the largest application area over the forecast period, both in terms of volume as well as revenue. It accounted for majority of the overall volume share and over half of the revenue generated in 2013. This can be attributed to increasing demand for digital cameras such as DSLRs and applications including video calling. Medical applications is expected to be the fastest growing market for CMOS sensors, at an estimated CAGR of 9.9% from 2014 to 2020. Advancements in healthcare and need for minimally invasive procedures including endoscopy are expected to contribute significantly to overall shipments over the forecast period.
3. North America accounted for 35.2% of the market revenue in 2013, with replacement demand acting as the key growth factor. Asia Pacific is expected to be the largest and fastest growing application during the forecast period, at an estimated CAGR of 6.6% in terms of revenue from 2014 to 2020, mainly due to presence of first-time buyers and high demand for digital cameras.
4. Companies operating in the market include Aptina Imaging, Sony Corporation, OmniVision, STMicroelectronics, Samsung Electronics and Canon Inc. among others. The industry is moderately concentrated, and industry participants employ product innovation and development order to gain market share.
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For the purpose of this study, Grand View Research has segmented the global CMOS image sensors market on the basis of application and region:
i. CMOS Image Sensors Application Outlook (Volume, Million Units and Revenue, USD Million; 2012 - 2020)
- Automotive
- Consumer Electronics
- Defense & Aerospace
- Industrial
- Medical
- Surveillance
- Others
ii. CMOS Image Sensors Regional Outlook (Volume, Million Units and Revenue, USD Million; 2012 - 2020)
- North America
- Europe
- Asia Pacific
- RoW
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