PRNewswire: Grand View Research estimates global image sensor market at USD 8.81 billion in 2013. The market is expected to reach USD 12.03 billion by 2020, growing at a CAGR of 4.6% from 2014 to 2020.
Medical applications accounted for over 6.0% of overall image sensors market volume in 2013, and are expected to grow at a CAGR of 9.2% from 2014 to 2020. This growth is attributed to demand from minimally invasive procedures such as endoscopy.
CCD devices are particularly used in medical and scientific applications. The segment had a revenue share of over 12% in 2013, and is expected to grow at a CAGR of 1.3% from 2014 t0 2020.
North America image sensors market accounted for over 32% of the overall revenue in 2013. However, Asia Pacific is expected to outpace North America over the next six years. Countries such as India and China are expected to play a key role in regional growth.
North America image sensor market was the largest regional industry in terms of revenue and is expected to grow at a CAGR of 3.7% from 2014 to 2020. This growth is attributed to stringent government regulations regarding driver and vehicle security.
North America was closely followed by Asia Pacific, which accounted for over 32% of the revenue share in 2013. Developing economies such as India, China, and Latin America countries are expected to majorly contribute to market growth
Europe image sensor market is also has a considerable revenue share of USD 2,006.8 million in 2013 is expected to be 2,503.1 million by 2020 growing at a CAGR of 3.2% from 2014 to 2020.
Medical applications accounted for over 6.0% of overall image sensors market volume in 2013, and are expected to grow at a CAGR of 9.2% from 2014 to 2020. This growth is attributed to demand from minimally invasive procedures such as endoscopy.
CCD devices are particularly used in medical and scientific applications. The segment had a revenue share of over 12% in 2013, and is expected to grow at a CAGR of 1.3% from 2014 t0 2020.
North America image sensors market accounted for over 32% of the overall revenue in 2013. However, Asia Pacific is expected to outpace North America over the next six years. Countries such as India and China are expected to play a key role in regional growth.
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| North America image sensor market revenue by application, 2012-2020, (USD Million) |
North America image sensor market was the largest regional industry in terms of revenue and is expected to grow at a CAGR of 3.7% from 2014 to 2020. This growth is attributed to stringent government regulations regarding driver and vehicle security.
North America was closely followed by Asia Pacific, which accounted for over 32% of the revenue share in 2013. Developing economies such as India, China, and Latin America countries are expected to majorly contribute to market growth
Europe image sensor market is also has a considerable revenue share of USD 2,006.8 million in 2013 is expected to be 2,503.1 million by 2020 growing at a CAGR of 3.2% from 2014 to 2020.
