Connect with us

Technology

Image Sensors Market worth $29.62 billion by 2029 – Exclusive Report by MarketsandMarkets™

Published

on

DELRAY BEACH, Fla., Nov. 8, 2024 /PRNewswire/ — The global image sensor market is expected to be valued at USD 20.66 billion in 2024 and is projected to reach USD 29.62 billion by 2029, growing at a CAGR of 7.5% from 2024–2029 according to a new report by MarketsandMarkets™. Additions to existing applications in various industries and technological advancements in image sensor product offerings are key factors driving the expansion of the image sensor market. Restraints such as High Manufacturing costs hinder market growth. However, factors such as Integration with other technologies provide lucrative opportunities for market players in the coming years.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=601

Browse in-depth TOC on “Image Sensors Market” 

120 – Tables
40 – Figures
260 – Pages

Image Sensors Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 20.66 billion

Estimated Value by 2029

$ 29.62 billion

Growth Rate

Poised to grow at a CAGR of 7.5%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By type, processing technique, spectrum, imaging type, array type, resolution, and end user and region.

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Optical and performance constraints of pixel miniaturization

Key Market Opportunities

Integration with other technologies

Key Market Drivers

Adoption of ADAS in Automotive

Area Scan image sensors by array type to hold the highest CAGR during the forecast period.

Area scan image sensors will have the highest CAGR in the image sensor market for years due to versatile applications in numerous industries. Since it captures images in a two-dimensional format, area scan image sensors find broad application in machine vision in manufacturing, quality assurance, and automated inspection systems. Growing demand for automation of processes in industries is an imperative factor driving this growth. Area scan sensors make high-speed image acquisition possible with good measurement accuracy, which are essential factors for maintaining product quality as well as operational efficiency. Improvements in the form of better resolution and sensitivity along with AI integration are also improving the performance of area scan image sensors. Their high-speed, real-time image processing capacity supports applications in the automotive, healthcare, and logistics sectors, where swift decision-making is important. The rise of smart factories and Industry 4.0 projects has increased the demand for area scan sensors, which are essential for automation and data analytics functions. With more and more industries embracing high-performance imaging solutions, the best position of area scan image sensors will be leading in growth rates and innovation in the market.

More than 16 MP by resolution to exhibit highest market share during the forecast period

Over the next few years, image sensors with more than 16 MP resolution will likely rule the market because they can fulfill the fast-growing demands of high-quality imaging in various applications. Manufacturers are increasingly incorporating higher-resolution sensors into smartphones, digital cameras, and professional equipment due to increasing consumer demands for superior image quality. These further fuels the demand for visually beautiful images and videos because of the proliferation of social media and digital content creation. Other areas include the automotive, healthcare, and security fields. For example, advanced driver-assistance systems (ADAS) in automobiles would require detailed imaging of the lane and pedestrians; these pixels need to be greater, hence the requirement of such sensors. Medical imaging devices need high-resolution imaging for the accurate diagnostics that are provided. Thus, the increased low-light sensitivity and higher readout speed will make the high-resolution sensor more attractive. As such, the image sensors market greater than 16 MP will significantly increase as it goes well with the industry trend.

Industrial sector to hold the highest CAGR during the forecast period

Industrial, the largest application segment for image sensors, is anticipated to have the highest CAGR in the image sensor market during the next couple of years due to the growing application of automation, robotics, and machine vision systems. Rising efficiency and precision needs among industries in the manufacturing process also create an enormous demand for advanced imaging technologies. Therefore, image sensors play a very important role in quality control; real-time inspection and monitoring products are possible to ensure compliance with stringent quality standards. The establishment of Industry 4.0, which involves a convergence of IoT devices and smart technologies in the manufacturing process, is another reason behind the demand for high-performance image sensors. The sensors are more capable of collecting more data, which are analyzed for predictive purposes to minimize downtime.

Furthermore, developing more applications in the autonomous vehicles, logistics, and warehousing area significantly contributes to the increase in the requirement for advanced imaging solutions. Industrial applications will transform with the use oftransform using sensor technologies like 3D imaging and AI-enhanced vision systems. The system could offer clearer operational efficiency. 

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=601

Asia Pacific in the image sensor industry to exhibit the highest CAGR during the forecast period

This will be where the highest CAGR in image sensors over the next years will emerge, spurred by various strong drivers in the region. The area is also where leading electronic manufacturing bases reside, among other factors that include some strong economies globally, like China, Japan, South Korea, and Taiwan. Some investment in this area for their development in researching and making discoveries is accelerating image sensor innovation in these markets. This growth is driven by the increasing demand for consumer electronics, including good-quality camera smartphones and tablets, as consumers want better imaging. Asia Pacific also grows due to fast industrialization and urbanization; image sensors are adopted in many industries, including automotive, healthcare, and surveillance. The automotive segment is especially booming for ADAS, which uses highly quality image sensors that include safety features. Furthermore, government projects like smart city projects help encourage surveillance and monitoring solutions; consequently, the demand also rises in the image sensor market. Collectively, these factors position the Asia Pacific region for robust growth, making it a key player in the global image sensor landscape. 

Key Players

The image sensor companies includes major Tier I and II players like Sony Corporation (Japan), Samsung. (South Korea), Omnivision (US), Semiconductor Components Industries, LLC (US) and STMicroelectronics (Switzerland), Panasonic Holdings Corporation (Japan), Canon Inc. (Japan), HAMAMATSU PHOTONICS KK. (Japan), Teledyne Technologies Incorporated. (US), SK HYNIX INC. (South Korea), Himax Technologies Inc. (Taiwan) and others. These players have a strong market presence in advanced packaging across various countries in North America, Europe, Asia Pacific, and the Rest of the World (RoW).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=601

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

3D Sensor Market Size, Share & Industry Trends Growth Analysis Report by Type (Image Sensor, Position Sensor, Acoustic Sensor, Magnetometer, Accelerometer, Gyroscope), Technology (Time-of-flight, Structured Light, Stereo Vision, Ultrasound), Method (Time-Delay, Triangulation) – Global Forecast to 2029

Automotive Sensors Market by Sales Channel (OEM, Aftermarket), Type (Temperature, Pressure, Oxygen, Position, Speed, Inertial, Image, Level, Chemical Sensors), Vehicle Type (Passenger Car, LCV, HCV), Application, Region – Global Forecast to 2028

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/Image-Sensor-Semiconductor-Market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/image-sensor.asp

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/image-sensors-market-worth-29-62-billion-by-2029—exclusive-report-by-marketsandmarkets-302299721.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

TÜV Rheinland Joins SEIA and Reinforces Commitment to the U.S. Solar and Renewable Energy Market

Published

on

By

BOXBOROUGH, Mass., Nov. 12, 2024 /PRNewswire/ — TÜV Rheinland of North America is pleased to announce that it has joined the Solar Energy Industries Association (SEIA), underscoring its commitment to advancing the solar and renewable energy industry in the United States. This step reflects TÜV Rheinland’s dedication to supporting the growth of clean energy and providing world-class services that enhance the bankability and reliability of solar projects across the nation.

“We are excited to join SEIA and contribute to the ongoing transformation of the U.S. energy landscape,” said May Wang, US Segment Manager for Solar & Sustainability at TÜV Rheinland of North America. “Our extensive experience in solar and renewable energy, combined with our global network of state-of-the-art laboratories, dedicated expert teams, and comprehensive solutions, enables us to provide cutting-edge services that drive sustainable growth and ensure long-term success in the U.S. market.”

To further support the growth of U.S. Solar manufacturing and renewable energy stations, TÜV Rheinland offers an extended bankability service, meticulously designed by top experts in the solar industry. This service is specifically tailored to help EPCs, investors, and power plant owners accurately assess the return on investment for their solar projects.

“SEIA is glad to have TÜV Rheinland join our organization as the solar and storage industry continues to scale to meet growing demand for electricity,” said Roderick Lewis, senior vice president of sales and business development at SEIA. “We look forward to collaborating with them to further advance the adoption of solar energy across the United States.”

In addition to these specialized services, TÜV Rheinland provides a comprehensive one-stop solution for renewable energy projects, encompassing supply chain and sustainability services. These offerings ensure that every aspect of a project, from inception to operation, meets the highest standards of quality, efficiency, and environmental responsibility.

As the United States aims to revitalize its solar manufacturing industry and increase the share of renewable energy, TÜV Rheinland stands ready to assist in this transformation. With over 150 years of experience in the independent testing, inspection, and certification (TIC) industry, and 42 years specifically in the solar and renewable energy sector, TÜV Rheinland has established itself as a global leader, providing services that ensure quality, safety, and performance across various industries.

TÜV Rheinland’s dedicated team of experts spans Europe, India, the Middle East, Asia, Mexico, and Americas, as well as company’s solar laboratories in Cologne, Shanghai, and Bangalore are at the forefront of innovation, serving top-tier solar panel and PV cell manufacturers worldwide offering unparalleled support to Solar & Energy Storage System power plants.

For more information regarding the solar business, please visit www.tuv.com/solar or contact solar@us.tuv.com.

About TÜV Rheinland
Safety and quality in almost all areas of business and life: That’s what TÜV Rheinland stands for. The company has been active for more than 150 years and is one of the world’s leading testing service providers. TÜV Rheinland has more than 22,000 employees in over 50 countries and generates annual sales of more than 2.4 billion euros. TÜV Rheinland’s highly qualified experts test technical systems and products around the globe, accompany innovations in technology and business, train people in numerous professions and certify management systems according to international standards. In this way, the independent experts ensure trust along global flows of goods and value chains. Since 2006, TÜV Rheinland has been a member of the United Nations Global Compact for more sustainability and against corruption.
Website: www.tuv.com

About SEIA
The Solar Energy Industries Association® (SEIA) is leading the transformation to a clean energy economy, creating the framework for solar to achieve 30% of U.S. electricity generation by 2030. SEIA works with its 1,000 member companies and other strategic partners to fight for policies that create jobs in every community and shape fair market rules that promote competition and the growth of reliable, low-cost solar power. Founded in 1974, SEIA is the national trade association for the solar and solar + storage industries, building a comprehensive vision for the Solar+ Decade through research, education and advocacy. Website: www.seia.org

CONTACT:
Michael García Carbajal
Phone: +52 55 3488 2108
Email: Michael.Garcia@mex.tuv.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/tuv-rheinland-joins-seia-and-reinforces-commitment-to-the-us-solar-and-renewable-energy-market-302303151.html

SOURCE TUV Rheinland

Continue Reading

Technology

Equity 1031 Exchange Introduces Cash Incentive Program for 1031 Exchange Referrals

Published

on

By

New program rewards real estate professionals with $225 for qualified referrals

FORT MYERS, Fla., Nov. 12, 2024 /PRNewswire/ — Equity 1031 Exchange is thrilled to announce the launch of a new referral program that offers cash incentives to real estate professionals. The program, which provides a $225 reward for each successful referral, creates new opportunities for real estate agents and brokers to grow their business while connecting their clients with experienced 1031 exchange services.

As investors increasingly seek tax-efficient investment strategies through 1031 exchanges, which require a Qualified Intermediary (QI), this program helps connect real estate professionals with an experienced QI.

“We’re introducing this program to recognize and reward the real estate professionals who trust us with their clients’ 1031 exchange needs,” said Theresa Knower, President of Equity 1031 Exchange. “This program demonstrates our commitment to working with real estate professionals while providing tangible value for their referrals.”

Program highlights:

$225 reward upon completion of first property sale in exchangeStreamlined digital onboarding processAdvanced dashboard for tracking referrals and earningsAccess to expert 1031 exchange advisorsNo cap on earning potential

The program’s launch builds upon Equity 1031 Exchange’s 25-year legacy of excellence, formerly as Midland 1031, and introduces a modern approach to professional referrals. Real estate professionals can now benefit from their network while ensuring their clients receive personalized service through complex 1031 exchange transactions.

Simple three-step process:

Complete and submit referral agreementAccess personalized tracking dashboardEarn rewards upon qualifying transactions

“Our goal is to build strong professional relationships,” added Knower. “We’re offering this incentive because we’re confident that once real estate professionals experience our service quality, they’ll see the value in recommending us to their clients.”

Interested real estate professionals can get more details on the program and sign up here.

About Equity 1031 Exchange

Equity 1031 Exchange is a Qualified Intermediary (QI) under IRS Section 1031, specializing in facilitating seamless, tax-deferred real estate exchanges. With decades of industry experience, Equity 1031 Exchange is dedicated to helping investors preserve and grow their wealth by navigating the complexities of 1031 exchanges. Our team of experienced professionals ensures that each transaction is handled with precision to help you ensure compliance with IRS regulations. Learn more at https://getequity1031.com/.

For more information contact:
Lori Hartigan
Senior Marketing Manager
Equity 1031 Exchange
Email: l.hartigan@trustetc.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/equity-1031-exchange-introduces-cash-incentive-program-for-1031-exchange-referrals-302303145.html

SOURCE Equity Trust Company

Continue Reading

Technology

Pye-Barker Fire & Safety Acquires Sonitrol New England, Enters New Markets and Marks First Rhode Island Location

Published

on

By

ATLANTA, Nov. 12, 2024 /PRNewswire/ — Pye-Barker Fire & Safety – the largest fully integrated and full-service fire protection, life safety and security services provider in the United States – has acquired Sonitrol New England, a regional leader in security and fire alarm services, from the Sonitrol Security Systems network. From this acquisition, Pye-Barker gains two new branches in Rocky Hill, Connecticut, and Riverside, Rhode Island. This marks Pye-Barker’s first location in the state of Rhode Island, helping Pye-Barker expand its full fire code compliance services in the Northeast.

This marks Pye-Barker’s first location in Rhode Island, helping Pye-Barker expand its services in the Northeast.

Sonitrol New England works with thousands of New England customers to protect their businesses, schools, government buildings, healthcare facilities and other commercial entities. The team designs and services fire detection, intrusion detection, video surveillance, panic buttons, access control, and emergency communication systems.

Since its founding in 1972 by Doug Curtiss, Sonitrol New England has remained at the forefront of the latest security technology and team training, efficiently transmitting alarm information to emergency dispatch and first responders.

“For over 50 years, Sonitrol New England has been committed to protecting our neighbors and building highly skilled local teams,” said Doug Curtiss, Sonitrol New England Founder and President. “Joining Pye-Barker is a unique opportunity to add more fire protection services to our offerings and expand career development for our team, while maintaining the localized service that our customers trust.”

“At the heart of Pye-Barker are the local teams who are out protecting their communities every day,” said Bart Proctor, Pye-Barker CEO. “As we continue expanding our geographic footprint, we are proud to bring aboard hardworking teams like those at Sonitrol New England and support their continued service in the neighborhoods where they live and work.”

Sonitrol New England was represented by Mark Sandler, Managing Director at SPP Advisors, in this transaction. Nelson Mullins Riley & Scarborough LLP represented Pye-Barker.

About Pye-Barker Fire & Safety

The U.S. leader in fully integrated life safety systems, Pye-Barker Fire & Safety provides complete fire protection and security systems nationwide. With over 230 locations and 7,000 team members nationwide, Pye-Barker ranks No. 849 on the Inc. 5000 and No. 8 on the SDM 100.

Pye-Barker continues to explore strategic acquisition opportunities. Visit pyebarkerfs.com/acquisitions to see why we’re the industry’s acquirer of choice.

Contact:

Eric Garner
Chief Business Development Officer
801.395.8738
eric.garner@pyebarkerfs.com

Media:

Alycia Volpe
media@pyebarkerfs.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/pye-barker-fire–safety-acquires-sonitrol-new-england-enters-new-markets-and-marks-first-rhode-island-location-302303152.html

SOURCE Pye-Barker Fire & Safety

Continue Reading

Trending