Market Trends of Asia-Pacific Sensors Industry
Consumer Electronics Industry is Expected to Hold a Significant Share
- The region's numerous consumer electronics manufacturing facilities account for the huge market growth. Global corporations that produce consumer electronics, including smartphones, have factories in China. Additionally, several smartphone manufacturing facilities in nations like India, Vietnam, Taiwan, and the Philippines also export their finished goods worldwide.
- Smartphones are one of the key products that employ several types of sensors. From the camera, display, and touch-up to distance and proximity measures, sensors have a wide range of usage for smartphones. As such, the growing adoption of smartphones is significantly propelling market growth.
- The use of image sensors for smartphones has been on the rise, and companies such as Sony and Samsung are the front runners in these markets. In July 2022, Sony announced the development of a new 100 MP CMOS sensor that will be seen on upcoming mid-range smartphones.
- In 2022, Samsung announced it was also working on a 200 MP sensor, confirmed to work with the Motorola Frontier. Samsung is also actively involved in developing smartphone camera sensors with a higher pixel range. Such innovations and developments in the image sensor markets have contributed to the growth of the sensor market globally.
- According to the GSMA, in 2021, the smartphone adoption rate reached 74 percent and is expected to rise to 84% by 2025. Concurrently, the mobile subscriber penetration rate is expected to reach 62% in the same year. As a result, the region is anticipated to have a significant market share over the projection period.
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China is expected to hold a significant share
- The sensor market in China is growing extremely quickly, and a rapidly rising community of producers is providing the country with a high volume of sensors for physical and chemical variables. One of the largest consumers of sensors, the automobile industry supports China's micro-electromechanical system industry.
- Additionally, according to CAAM, in April 2022, around 210,000 commercial vehicles and 996,000 passenger cars were produced in China. This will drive the market growth for sensors in the forecast period.
- China has emerged as the market leader for image sensors among the Asia-Pacific nations because of its expanding economy and growing proportion of the global electronics industry. In addition to having a sizable domestic market, China is exporting an increasing number of smartphones with cameras to other countries.
- Panasonic, Sharp, Canon, Himax Technologies, Hamamatsu Photonics K.K., Samsung, and Semiconductor Components Industries are some of the top companies competing in China's CMOS image sensor market.
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