Market Size of APAC Image Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.60 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Image Sensors Market Analysis
The Asia Pacific Image Sensor Market is expected to grow at a CAGR of 8.6% during the forecast period of 2020-2025. Sensors have become the primary segment contributing to the booming semiconductor industry. Constant evolution in technology and innovative field of applications are refining the prominence of snesors day by day.
- Among the Asia-Pacific countries, China is showing significant growth rate, owing to its growing economy and global electronics market share. China is one of the prominent electronics producers and consumers. According to National Bureau of Statistics China, the country's computer, communication equipment, and other electronic equipment manufacturing increased by 13.1% during fiscal 2019, and entire industrial sector was valued at CNY 30,516 billion.
- China has implemented the Social Credit System, which uses extensive facial recognition of its citizen. The facial recognition systems are being implemented across the country, and the requirement for cameras for the project is expected to drive the market.
- In India, The Ministry of Electronics & Information Technology under Internet of Things (IoT) Management Framework for Smart Cities has tasked ERNET India along with IISc to develop the LoRa gateway (pole gateway), which is a low-cost compute box that could connect to cameras, temperature, humidity, air quality, and other sensors. This pole gateway could perform the local analytics and push data to the server.
- The cameras are finding their applications in non-invasive testing equipment in the healthcare industry and are also used for scanning purposes. The healthcare industry in India is expected to grow at a significant rate. According to the Civil Service India, the healthcare industry is expected to reach USD 132.84 billion by 2023.
- Further, due the outbreak of the pandemic COVID-19 virus, Japan has announced a USD 2.2 billion stimulus package to help its manufacturers to shift their production facilities out of China as the COVID-19 disrupted the supply chain. The package specifies, USD 2 billion for companies shifting production back to Japan and remaining for those seeking to move production to other countries.
