Low-Light Imaging Market estimated to be worth $18.4 billion by 2024

(IT-NEWSWIRE.COM, November 02, 2021 ) According to the new market research report "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", the low-light imaging market is expected to be worth USD 10.0 billion in 2019 and reach USD 18.4 billion by 2024, at a CAGR of 12.8% from 2019 to 2024. The growth of this market can be attributed to the high adoption of low-light imaging technology in consumer electronics, especially in smartphones.

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CMOS segment to hold the largest share of low-light imaging market in 2019

By technology, the CMOS segment will lead the low-light imaging market in 2019. The dominant position of CMOS technology can be credited to its growing popularity owing to its various advantages over CCD technology. The CMOS technology-based low-light image sensors are rapidly replacing CCD technology-based low-light image sensors in the majority of applications such as photography, and security and surveillance; as a result of which, the demand for CCD technology-based image sensors has been decreasing.

The market for automotive vertical to grow at highest CAGR during the forecast period

The low-light imaging market for automotive vertical is expected to witness the highest 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. Dash cameras, front-view machine vision cameras, rear-view mirrors with cameras, camera monitor systems, and 360-degree surround-view cameras are among a few of the systems used in cars wherein low-light image sensors find applications.

APAC expected to hold the largest share of low-light imaging market in 2019

APAC is expected to hold the largest share of the low-light imaging market in 2019. China and India are the key countries contributing to the growth of the low-light imaging market in APAC. North America is expected to account for the second-largest share of the low-light imaging market throughout the forecast period. Industrial, commercial, & residential infrastructure and automotive are the key verticals which are generating high demand for low-light imaging devices in this region.

A few key players operating in the low-light imaging market are Sony (Japan), Samsung Electronics (South Korea), ON Semiconductor (US), STMicroelectronics (Switzerland), OmniVision Technologies (US), Teledyne Technologies (US), and Panasonic (Japan).

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Low-Light Imaging Market estimated to be worth $18.4 billion by 2024