Market Size of North America Image Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Image Sensors Market Analysis
The North American Image Sensors Market is expected to witness growth at a CAGR of 6.9% over the forecast period. The COVID-19 pandemic had a significant impact on the market during the initial period. The supply chain has experienced a massive disruption due to restrictions in the movement of goods and personnel.
- Due to the growing demand for smartphones, security cameras, high-definition cameras, and camcorders, the image sensors market is expected to record a high growth rate during the forecast period. Manufacturers in the region have been striving to improve major parameters, such as resolution, performance, and pixel size.
- IC technology advancements have allowed the incorporation of previously independent functions by integrating sensors in the same chip. For example, a standard mobile phone has independent features, such as a camera, wireless connectivity, and music-playback capabilities. Now, all these functionalities are made available in a single device and have resulted in popularity, thus increasing the production volumes for image sensors, such as CMOS and CCD.
- In terms of consumer electronics, the smartphone has become the primary camera device, dominating still-cameras and DSLRs. Heavy competition in the smartphone segment has driven manufacturers to provide better cameras to have the edge over the competition, which has resulted in high investments in camera technology innovations in this field.
- Further, manufacturing firms in the region realize the benefits of machine vision systems, particularly in areas where redundant tasks, such as inspection, should be performed precisely. Industry 4.0 fueled the development of technologies, like robots playing a crucial role in industrial automation, with many core operations in industries managed by robots. Machine vision supports new applications, like vision-guided robotics, etc.
- Moreover, drones are widely used in North America to conduct surveys, and manufacturers are constantly looking for cameras that can capture images from altitudes. Cameras with higher megapixel resolution and small sensor sizes can be subject to image diffraction effects. Therefore, such disadvantages provide opportunities for the image sensor vendors in the market to introduce larger sensors that showcase better light-gathering ability at the same resolutions.
