According to the study, the global image detection sensor market was worth US$9.67 bn in 2015. Rising at a CAGR of 9.60% during the period from 2016 to 2024, the opportunity in this market is likely to reach a value of US$22.01 bn by the end of the forecast period. In terms of technology, the CMOS segment has been leading this market and is expected to remain doing so in the near future, thanks to the increasing awareness among consumers regarding the benefits of CMOS, such as single chip IC integration and low power dissipation.
Led by a large pool of players, the global market for image detection sensors is displaying a consolidated and a competitive landscape, finds a report by Transparency Market Research, (TMR). The top four players in this market, namely, FLIR Systems, Cognex, Emerson Electric Co., and Texas Instruments Inc., accounted for more than 70% of this market in 2015. With a lower scope of new companies entering the market, the competition within it is likely to remain so over the next few years.
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