Market Trends of MEA Image Sensors Industry
This section covers the major market trends shaping the MEA Image Sensors market according to our research experts:
Consumer Electronics Segment to Hold Significant Market Share
- The consumer electronics market in the Middle East and African region is quite promising as the consumer behavior in the region has been continuously evolving. The sales of consumer electronics are in the gradual move towards more compact and multifunctional devices, with consumers' lifestyles becoming increasingly highly mobile and fast-paced.
- The key applications for image sensors in a consumer electronics device included mobile phone cameras, digital still cameras, tablets, toys, and camcorders, PC/laptops, webcams, and smart televisions.
- For applications in a consumer electronics device, usually, CMOS image sensors are preferred over CCD sensors because of their lower power consumption, ease of integration, speed, and cost factor.
- Furthermore, the Consumer electronics market in the Middle East is on the verge of digital disruption with companies vying for online presence, which has significant untapped market potential. For instance, in 2020, the Sony Middle East & Africa launched the latest range of Alpha mirrorless interchangeable lens cameras in Nigeria. These mirrorless cameras offer the fastest shooting speed with Auto Focus (AF) and Auto Exposure (AE).
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United Arab Emirates to be the Region with Significant Market Share
- The United Arab Emirates is among the countries with the highest smartphone penetration. With the availability of 5G services increasing significantly in the region, the number is further expected to increase.
- Additionally, the digital transformation is accelerating across the country as governments, public institutions, private sector players, and development organizations are increasingly using digital platforms to improve lives and power economic growth in the region.
- Furthermore, automotive is one of the key sectors where the demand for imaging sensors is growing steadily. In modern-day automobiles, cameras are being deployed throughout the vehicle to increase driver safety and comfort, including surround-view systems, ADAS applications, and mirror replacement.
- As UAE is among the leading automotive market in the Gulf Cooperation Council (GCC) region due to factors such as low fuel costs, low import tariffs, high per capita disposable income, and a favorable tax regime. The sector encourages economic diversification and influences national strategy for a competitive business environment.
- Moreover, the UAE government's recent shift towards local manufacturing encourages global automobile manufacturers to increase investments in this region. The companies such as Ashok Leyland, Hafilat Industries, W Motors, and Zarooq Motors have started manufacturing in the UAE, and more are likely to follow.
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