LONDON--(BUSINESS WIRE)--Scope of the report
This report provides a detailed analysis of the low light level imaging sensors market by end-user (defense, industrial, and security and surveillance), application (night vision devices, cameras, optic lights, and others), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ams AG, BAE Systems Plc, Hamamatsu Photonics KK, OmniVision Technologies Inc., ON Semiconductor Corp., Photonis Technologies SA, Samsung Electronics Co. Ltd., Sony Corp., STMicroelectronics NV, and Teledyne Technologies Inc. Increased government investments in military devices is a key trend in the global low light level imaging sensors market which will lead to significant market growth. Countries across the world are making significant investments to provide sophisticated equipment to the military sectors. This has increased the demand for night vision devices equipped with low light level imaging sensors. All these factors are leading to a positive outlook for the low light level imaging sensors market.
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Low Light Level Imaging Sensors Market: Segmentation by Geography
The market is segmented into five regions encompassing APAC, Europe, MEA, North America, and South America. APAC was the largest market for low light level imaging sensors in 2019, and the region is expected to offer several growth opportunities to market vendors during the forecast period. About 41% of the market’s growth will originate from APAC during the forecast period. The rising adoption of smartphones and portable PCs in the region has increased the demand for image sensors. In addition, increased defense budget by countries such as China, South Korea, India, and Japan is fueling market growth in APAC. China, South Korea (Republic of Korea), and Japan are the key markets for low light level imaging sensors in APAC.
Low Light Level Imaging Sensors Market: Segmentation by End-user
The low light level imaging sensors market is segmented into three segments based on end-users comprising of defense, industrial, and security and surveillance. A majority of the demand for low light imaging sensors came from the defense segment in 2019. Low light imaging sensors find numerous applications in the defense sector such as night vision devices, driver vision enhancement systems, helmet-mounted digital vision systems, and others. The growing demand for these devices in the military sector is increasing the scope for low light imaging sensors in the segment. These factors are creating significant growth potential in the segment.
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Low Light Level Imaging Sensors Market: Growth Drivers
The rising demand for night vision devices will drive market growth. Night vision devices such as thermal cameras are increasingly becoming popular among police departments and security professionals. These cameras enable them to track and capture criminals in adverse weather conditions. Night vision cameras are also used to detect animals at night and identify speeding vehicles. Similarly, in automotive applications, night vision devices are used to improve driver visibility in low light and extreme weather conditions. Thus, the increasing demand for night vision devices is expected to fuel the growth of the global low light level imaging sensors during the forecast period.
Low Light Level Imaging Sensors Market: Market Overview
The low light level imaging sensors market is fragmented with the presence of several domestic and international players. Hence, companies need to adopt advanced technologies and marketing strategies to remain competitive in the market. ams AG, BAE Systems Plc, and Hamamatsu Photonics KK are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the requirement of high capital investments will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Market Sizing Methodology
Technavio uses a robust market sizing approach to estimate the total opportunity size for any market. Some of the examples of methodologies are shown for reference data is collected through both primary research (through industry interview with market participants and industry experts) as well as secondary research (through annual reports, press releases, company and industry presentations, industry associations, journals and in-house data repositories built over past 15 years)
Low Light Level Imaging Sensors Market: Parent Market Overview
Technavio categorizes the global low light level imaging sensors market as a part of the global electrical components and equipment market within the global electrical equipment market. The parent market, global electrical components and equipment market covers companies engaged in the manufacturing of electric cables and wires, electrical components, and electrical equipment.
Growth in the global electrical components and equipment market will be driven by the rising adoption of automation in the manufacturing process.
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