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.
Key Market Trends
Consumer Electronics to Show Significant Growth
- The image sensors market in the Asia-Pacific region witnessed growth due to the widespread presence of electronics companies, as well as an increase in consumers' purchasing power. The region has witnessed a growth in smartphone adoption and smart surveillance systems, fueling deployment of image sensors to cater to a booming consumer electronics manufacturing sector.
- Growing demand for smartphones and other consumer electronics products from countries such as China, the Republic of Korea, India, and Singapore are encouraging many companies to set up production establishments in the Asia-Pacific region. The abundant availability of raw materials and the low establishment and labor costs also helped the companies launch their production centers in the region.
- In 2019, the company also launched its first smartphone with Infinity-O Display, called as Samsung Galaxy A9 Pro. This device comprises a punch-hole display, triple rear camera, 6GB RAM and 128GB onboard storage. Another company, LG Innotek, in 2019, started the production of camera modules for iPhone. The company supplied triple-camera to Apple in 2019.
- Consumer electronics consumption is also on the rise in the country. According to the National Bureau of Statistics of China, the retail trade revenue of household appliances and consumer electronics in China stood at CNY 96.31 billion in June 2019 alone. Various camera-equipped electronic goods are expected to drive the market for image sensors.
China to Hold the Highest Market Share
- China is investing heavily on its facial recognition capabilities; according to Tsinghua University, China's market size of biometric recognition technologies is expected to reach CNY 34 billion.
- The Chinese facial recognition database includes nearly every one of its 1.4 billion citizens, to cover the country the government has installed cameras in both public and private areas. According to Tencent, the number of surveillance cameras installed in China during fiscal 2017 stood at 176 million units and is expected to reach 626 million units by 2021.
- Chinese firms are utilizing the opportunity and equipping government bodies, such as police departments with the surveillance equipment. One such organization is YITU Technology, which supplies Dragonfly Eye System, a facial scanning platform that can identify a person quickly from the database of billions.
- China is expected to be a world leader in AI technologies by 2022, and a major part of the growing industry is expected to use the AI-based cameras, which are also being used in its surveillance systems across the countries. The country is home to firms, which are observing significant growth.
The Asia Pacific Image Sensor Market compeitition is fregmented and the market share is distributed among many players. Product launches, high investments in R&D, partnerships and acquisitions, etc., are the prime growth strategies adopted by these companies to sustain in the market. Some of the key developments in the market are:
- May 2019- Chinese AI company Megvii, which developed facial recognition software Face++, announced the completion of USD 750 million funding round. Megvii's technology is used by the Ministry of Public Security, China.
- November 2020- Macnica ATD Europe announced its parent company, Macnica, is now offering Macnica SLVS-EC IP versions for both Intel and Xilinx devices. The device is a high-speed interface defined by Sony for high-resolution/high-frame-rate CMOS image sensors.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1.2 Scope of the Study
4.2 Assessment on the Impact of COVID-19 on the market
4.3 Market Drivers
4.3.1 Rising popularity of ADAS system is Boosting Image Sensor market demandfrom Automotive Sector.
4.3.2 Ongoing shift to CMOS technology and improvement in image quality favouring image sensor market development.
4.4 Market Restraints
4.4.1 Easy availability of light detection and ranging (LiDAR) solutions.
4.5 Value Chain Analysis
4.6 Porters Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5.2 End-user Industry
5.2.1 Consumer Electronics
5.2.4 Security and Surveillance
5.2.5 Automotive and Transportation
5.2.6 Aerospace and Defense
5.2.7 Other End-user Industries
5.3.4 Rest of Asia Pacific
6.1.1 Canon Inc
6.1.2 Ams AG
6.1.3 Omnivision Technologies Inc.
6.1.4 ON Semiconductor Corporation
6.1.5 Samsung Electronics Co. Ltd
6.1.6 Sony Corporation
6.1.7 STMicroelectronics NV
6.1.8 Teledyne DALSA Inc.
6.1.9 Hynix Inc.
6.1.10 GalaxyCore Inc
6.1.11 Panasonic Corporation
6.1.12 Gpixel Inc
6.1.13 SmartSens Technology Co., Ltd.