DUBLIN--(BUSINESS WIRE)--The "Low-Light Imaging Market by Technology (CCD, and CMOS), Application (Photography, Monitoring, Inspection & Detection, and Security & Surveillance), Vertical (Consumer Electronics, Automotive), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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 sensing technology in smartphones and the growing popularity of CMOS technology drives market growth
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.
- Increasing Penetration Rate of Low-Light Image Sensing Technology in Smartphones
- Rising Deployment of Advanced Driver Assistance Systems
- Growing Popularity of CMOS Low-Light Image Sensors
- Complex and Expensive Process to Produce Low-Light Imaging Technology-Based Cameras Offering High-Quality Images
- Growing Penetration of CMOS Image Sensors for Endoscopy Applications
- Migrating From CCD to New-Generation CMOS Technology
- Maintaining Leading Position in Intensely Competitive Market
- Bae Systems Imaging Solutions
- Fairchild Imaging
- Gigajot Technology
- Hamamatsu Photonics KK
- Himax Technologies
- OmniVision Technologies
- ON Semiconductor
- Pixart Imaging
- Samsung Electronics
- Teledyne Technologies
For more information about this report visit https://www.researchandmarkets.com/r/o00yzz