Image Sensor Market Size, Share, Growth Analysis, By Technology(Front Side Illuminated (FSI) Image Sensor, Back Side Illuminated (BSI) Image Sensor, Contact Image Sensor (CIS), Charge-coupled device (CCD) Image Sensor), By Processing Type(2D Processing, 3D Processing), By Application(Aerospace, Entertainment, Industrial, Consumer Electronics), By Region - Industry Forecast 2024-2031

Global Image Sensor Market size was valued at USD 16.01 billion in 2022 and is poised to grow from USD 16.36 billion in 2023 to USD 39 billion by 2031, growing at a CAGR of 9.6% in the forecast period (2024-2031). 

When the pixel size is reduced, the quality degrades due to natural light and is overcome by the sensing devices. Over the course of the forecast period, the market is expected to rise as a result of the rising demand for smaller pixel devices that offer high resolution with an economical strategy. The market has undergone a significant transition in recent years. The global market for image sensors has changed as a result of technical developments and the extensive use of pictures across numerous applications. Sensing equipment has grown more affordable, compact, and energy-efficient thanks to rising R&D spending, providing opportunities to companies in the market. Over the forecast period, it is anticipated that the growing smartphone market, in particular, will drive segment expansion.

The need for higher resolution cameras for security and surveillance is being driven mostly by worries about monitoring and security in public spaces including parks, public squares, malls, and train stations as well as the rise in terrorist acts. But there are now more people using cell phones and digital still cameras than ever before, which has led to a shortage of lenses and image sensors. Additionally, the segment growth during the predicted period may be constrained by the semiconductor industry's dynamic nature.

Due to its compact design, low power requirement, and affordability, which make it perfect for usage in a variety of applications, CMOS technology earned the greatest revenue in 2019 and is anticipated to maintain its dominance over the projection period. It is utilized in analogue circuits like data converters and highly integrated transceivers as well as static RAM, microprocessors, and microcontrollers. CCD technology is expected to have considerable growth owing to high-cost and high power consumption. CCD technology can be used in various applications requiring an extra sensitivity of the electron-multiplying CCD.

US Image Sensor Market  is poised to grow at a sustainable CAGR for the next forecast year.