The low-light imaging market is expected to grow at a CAGR of 12.8% from 2019 to 2024, to reach USD 18.4 billion by 2024 from USD 10.0 billion in 2019
NEW YORK, Nov. 12, 2019 /PRNewswire/ -- Increasing penetration of low-light image sensing technology in smartphones and the growing popularity of CMOS technology drives market growth
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The low-light imaging market is expected to grow at a CAGR of 12.8% from 2019 to 2024, to reach USD 18.4 billion by 2024 from USD 10.0 billion in 2019. Increasing penetration of low-light image sensors in smartphones and the growing popularity of CMOS technology are among the key driving factors for the low-light imaging market. However, the high manufacturing cost of low light imaging sensors is hindering the growth of the low-light imaging market.
Photography application to dominate in the low-light imaging market during the forecast period
The low-light imaging market, by application, is segmented into security & surveillance; monitoring, inspection & detection; and photography.The low-light imaging market for photography application is expected to hold a dominant position throughout the forecast period.
The high demand for low-light image sensors from the consumer electronics vertical, especially for smartphones, has resulted in the leading position of the photography application in the low-light imaging market.
Automotive vertical to witness the highest growth in the market during the forecast period
The low-light imaging market for automotive vertical is expected to witness significant growth during the forecast period.Rising demand for automotive ADAS is one of the main factors boosting the growth of the low-light imaging market for the automotive vertical.
Europe and APAC are the major regions generating demand in the low-light imaging market for automotive vertical.
APAC to hold the largest share of low-light imaging market from 2019 to 2024
In terms of market size, APAC is expected to dominate the low-light imaging market during the forecast period and is likely to witness significant growth in the said market during the forecast period.The consumer electronics industry is the major demand generator for low-light imaging sensors and related solutions in this region.
This is due to the presence of manufacturing units of several leading mobile phone, PC tablet, and digital camera manufacturers in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the low-light imaging market. Following is the breakup of the profiles of primary participants for the report.
• By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
• By Region: North America – 45%, Europe – 20%, APAC – 30%, and RoW – 5%
The report profiles key players in the low-light imaging market and analyzes their market rankings. Players profiled in this report are Sony (Japan), Samsung Electronics (South Korea), ON Semiconductor (US), Panasonic (Japan), STMicroelectronics (Switzerland), Teledyne Technologies (US), PixArt Imaging (Taiwan), Hamamatsu Photonics K.K. (Japan), Fairchild Imaging (BAE Systems Imaging Solutions) (US), Sharp (Japan), PHOTONIS (France), ams (Austria), GalaxyCore (China), Canon (Japan), Himax Technologies (Taiwan), Gigajot Technology (US), PIXELPLUS (South Korea), Light (US), and Corephotonics (Israel).
Research Coverage
This report segments the low-light imaging market by technology, application, vertical, and geography. The report also describes major drivers, restraints, challenges, and opportunities pertaining to this market, as well as includes the value chain and market ranking analysis.
Reasons to Buy This Report
The report will help leaders/new entrants in the low-light imaging market in the following ways:
1. The report segments the low-light imaging market comprehensively and provides the closest market size estimation for all subsegments across regions.
2. The report will help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities pertaining to the low-light imaging market.
3. The report will help stakeholders understand their competitors better and gain insights to improve their position in the low-light imaging market. The competitive landscape section describes the competitor ecosystem.
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