Technology

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

Published

2 weeks ago

November 8, 2024

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.

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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.

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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).

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Technology

Bernard Looney Appointed Chairman of the Board of Directors at Prometheus Hyperscale

Published

5 hours ago

November 24, 2024

Global energy executive joins Prometheus Hyperscale to accelerate sustainable data center growth and provide strategic counsel on $10B flagship project in Evanston, Wyoming

HOUSTON, Nov. 24, 2024 /PRNewswire/ — Prometheus Hyperscale, a leading developer of sustainable hyperscale data centres, is delighted to announce the appointment of Bernard Looney as Chairman of the Board of Directors.

Mr. Looney, former CEO of BP, brings to the role more than three decades of energy sector expertise – from the frontline to the boardroom. He will provide strategic guidance on the development of the company’s growth plans, including its $10B flagship data center in Evanston, Wyoming, which will be among the largest facilities of its kind in the world when completed.

The announcement of Mr. Looney’s appointment comes as societies and large technology companies grapple with how to power the explosive growth in artificial intelligence (AI). The International Energy Agency (IEA) estimates that by 2026 data centers globally will use over 1,000 terawatt-hours (TWh) annually, around the same as Japan uses today. Against this backdrop of soaring demand and squeezed supply, Prometheus is pioneering new standards in hyperscale data center operations.

These approaches include harnessing a variety of energy sources to power its data centers, including renewables, natural gas and possibly nuclear at a later date through our strategic partnership with Oklo. Prometheus aims for its data centers to not impact grid customers.

Another key challenge is the enormous amount of power and water used to cool data centers to prevent the servers from overheating. Prometheus Hyperscale uses a unique liquid cooling system that dramatically outperforms traditional air-cooling methods, reducing energy consumption by up to 50%. This system also utilises deep underground water reservoirs and captures the waste heat to reuse or sequester it. It’s believed that Prometheus Hyperscale’s flagship project will be the first hyperscale data center in the United States to combine liquid heat transfer and heat reuse technologies.

Founded by Trenton Thornock, an experienced leader in energy, finance and infrastructure, Prometheus Hyperscale’s flagship project in Evanston, Wyoming, promises to be the most advanced sustainable data center in the United States, and one of the largest in the world, when it becomes operational in 2025/26. The 1GW-capacity developed site will cover an area of 640-acres (one square mile), making it approximately three quarters the size of New York’s Central Park. Four further sites are currently earmarked across Arizona and Colorado.

As Chairman, Mr. Looney will ensure the successful execution of Evanston as well as Prometheus’s broader business goals. His appointment comes following the recent announcement that Trevor Neilson, a renowned climate technology entrepreneur and philanthropist, will serve as the company’s President.

It’s estimated that $1 trillion will be invested in the U.S. in data centers in the next five years – with an additional $1 trillion internationally.

Trenton Thornock, Founder and CEO of Prometheus Hyperscale commented: “Having Bernard Looney join as Chairman is a tremendous step forward for Prometheus. Bernard’s track record and transformative leadership in the energy sector aligns perfectly with our vision for the future of data centers. His insights, as well as his extensive operational and project delivery experience, will be invaluable as we bring our flagship project in Evanston, Wyoming to life and set new benchmarks for sustainable digital infrastructure.”

Trevor Neilson, President of Prometheus Hyperscale, commented: “Bernard is the perfect person to guide Prometheus as we form partnerships across the energy sector to access low-carbon electrons that will power the future of AI. His extensive industry experience and leadership will be instrumental as Prometheus establishes itself at the forefront of sustainable data center operations.”

Bernard Looney commented: “I am delighted to join Prometheus Hyperscale at this pivotal moment as the world grapples with the intersection of AI, Energy and Sustainability. Innovative power solutions are desperately needed to ensure that AI is unleashed to tackle some of the biggest global challenges including healthcare, economic growth, and the energy transition. We must work to find solutions that lead to Net Positive AI – where the benefits to our world outweigh any costs. The flagship Evanston project is one such solution and I look forward to lending a helping hand, working alongside Trenton, Trevor, and the entire Prometheus team to help bring this vision to life. I can’t imagine a more exciting challenge.”

Factsheet: Prometheus Hyperscale’s Flagship Project in Evanston, Wyoming

Prometheus’s site in Evanston, Wyoming, aims to redefine sustainable infrastructure in the data center industry, setting a new benchmark for operational excellence and environmental responsibility.

Key aspects of the project include:

Extensive Land and Power Capacity: The project encompasses a 12,000-acre ranch, including a dedicated 640-acre plot (about 1 square mile) for data center facilities. Prometheus has secured an initial 120 MW of grid power through Rocky Mountain Power, with plans for an additional 120 MW, ensuring robust power availability without curtailment risks.

On-Site Renewable and Low-Carbon Power Generation: With an on-site generation goal of over 1 GW, which will make it one of the largest data centers in the world, Prometheus is incorporating a mix of wind, solar and gas power sources. Additionally, the company has a strategic partnership with Oklo focused on next-generation fission-based nuclear power, delivering reliable, sustainable baseload energy to the campus.

High-Performance Fiber Connectivity: The Evanston site will connect directly to the Northern transcontinental fiber trunk, offering high-speed, low-latency connections between the East and West Coasts. With agreements for up to 400G of service and plans to scale up to 800G when commercially available, the project is poised to meet the rigorous connectivity needs of AI, cloud, and high-performance computing clients and to be one of the biggest data centers in the world.

Cutting-Edge Liquid Cooling Technology: Prometheus’s unique liquid cooling systems will be deployed to achieve unparalleled energy efficiency by capturing and reusing waste heat. This innovative solution is specifically engineered for high-performance computing environments and will play a critical role in reducing the carbon footprint of the facility.

Strategic Location and Access to Skilled Labor: Located 80 miles from Salt Lake City, Utah, the Evanston site benefits from proximity to a large, skilled workforce, bolstered by a regional Journeyman Lineman program focused on data center operations. This strategic location supports the project’s operational and expansion goals while reinforcing Prometheus’s commitment to regional economic growth.

For more information about Prometheus Hyperscale and its sustainability initiatives, please visit www.prometheushyperscale.com.

About Prometheus Hyperscale

Prometheus Hyperscale, founded by Trenton Thornock, is revolutionizing data center infrastructure by developing sustainable, energy-efficient hyperscale data centers. Leveraging unique, cutting-edge technology and working alongside strategic partners, Prometheus is building next-generation, liquid-cooled hyperscale data centers powered by cleaner energy. With a focus on innovation, scalability, and environmental stewardship, Prometheus Hyperscale is redefining the data center industry for a sustainable future.

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Technology

Sixth Avenue Custom Millwork Launches Revamped Website to Enhance Client Experience

Published

5 hours ago

November 24, 2024

Sixth Avenue Custom, a premier provider of custom millwork services for both home and business owners, has launched a revamped website designed to offer a more streamlined user experience, showcasing their custom woodworking and millwork services.

FREDERICK, Md., Nov. 24, 2024 /PRNewswire-PRWeb/ — Sixth Avenue Custom, a leading provider of custom millwork services, has unveiled its newly revamped website aimed at enhancing user experience and better showcasing its wide array of woodworking services. The updated website highlights the company’s dedication to creating high-quality custom cabinetry, millwork, and architectural details for residential and commercial clients while offering a modern, easy-to-navigate platform for users. As an industry leader in bespoke craftsmanship, Sixth Avenue Custom’s redesigned site now makes it even easier for potential clients to engage with their work.

Sixth Avenue Custom, a leading provider of custom millwork services, has unveiled its newly revamped website aimed at enhancing user experience and better showcasing its wide array of woodworking services.

Six generations ago, Ezra Beachley began crafting high-quality furniture with unmatched precision and care. Now, his great, great, great grandson Ryan Beachley carries that same ethos forward with Sixth Avenue Custom, a company set on maintaining tradition while embracing the future. “Our model and process is not the ordinary way of doing things. It’s unique, it’s custom, it’s the Sixth Avenue Custom way,” said Ryan. This philosophy of blending old-world craftsmanship with modern tools and technologies is front and center on the newly launched website. The updated site offers an engaging, user-friendly experience and showcases the company’s vast portfolio of exquisite residential and commercial projects—from bespoke cabinetry to intricate architectural millwork.

The updated website also introduces responsive design features, ensuring visitors can easily access the company’s portfolio and services across any device, from desktops to smartphones. In addition to a more polished look and feel, the website now offers smoother navigation, allowing users to browse through service offerings, explore more content about the company’s process, and quickly request consultations. By including a dedicated blog and expanded resource sections, Sixth Avenue Custom aims to educate clients about the nuances of custom millwork, giving them the knowledge they need to make informed decisions for their spaces.

If you’re looking for outstanding custom millwork solutions, visit Sixth Avenue Custom to view the newly enhanced website or schedule a consultation for your next project. The company’s dedicated team continues to push the boundaries of design and woodworking, ensuring each project exceeds client expectations. To learn more, explore the site at https://sixthavenuecustom.com or call Sixth Avenue Custom at 301-327-1504. Sixth Avenue Custom is located at 5907 Enterprise Court, Frederick, Maryland, 21703.

Media Contact

Mai-Lan Spiegel, 321 Web Marketing, 1 7038107557, mailan@321webmarketing.com, https://sixthavenuecustom.com/

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SOURCE Sixth Avenue Custom

Technology

Don’t Miss These Incredible AiRROBO Black Friday Deals – Unbeatable Prices Await!

Published

7 hours ago

November 24, 2024

HONG KONG, Nov. 24, 2024 /PRNewswire/ — Black Friday is here, and it’s your chance to grab the best deals of the year! Whether you’re looking to upgrade your home, simplify daily chores, or spoil your furry friends, we’ve got you covered with massive discounts on top-rated products. Check out these must-have items at unbeatable prices, available for a limited time only.

AiRROBO T20+ Robot Vacuum: Revolutionize Your Cleaning

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The AiRROBO P20 is perfect for budget-conscious shoppers who want smart cleaning. It delivers powerful suction to remove dirt, pet hair, and debris from hard floors and carpets. Compact yet efficient, the P20 is ideal for apartments or smaller homes. Don’t miss the chance to grab this deal and simplify your life for a fraction of the price!

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Original Price: $99.99
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Discount Code: 4YUDMHIJ

Say goodbye to the mess of grooming your pets at home. The AiRROBO PG50 combines grooming and vacuuming in one handy device, capturing pet hair and dander as you groom. This is the perfect gift for pet lovers who want to keep their homes fur-free while pampering their furry friends.

Why Shop This Black Friday?

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Massive Savings: Up to 60% off premium products.Convenience: Shop online and enjoy fast delivery to your doorstep.Perfect Gifts: Find practical and thoughtful gifts for loved ones—or yourself!

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For more information

For any giveaway campaigns or new feeds, please join AiRROBO on Facebook, Instagram, Twitter, YouTube and Gleam.io.

About AiRROBO

AiRROBO is a smart home appliance brand with a focus on AI-enabled technologies. Supported by world-leading AI and humanoid robotic company, UBTECH Robotics, AIRROBO is aiming to bring the most cutting-edge technology to more and more households around the globe, making smart home a new norm of life. Find out more at us.air-robo.com.

CONTACT: Kristy Luo, sihui.luo@ubtrobot.com

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