The image signal processor market size is predicted to touch USD 4.12 billion at a 6.49% CAGR in the forecast period (2020- 2027), states the latest Market Research Future (MRFR) report.
Deployment of Smart Grid Solutions to Boost Market Growth
The growing deployment of smart grid solutions for defending critical infrastructures from cyberattacks will boost market growth over the forecast period.
Growing Need for Video Analytics to offer Robust Opportunities
The growing demand for video analytics for transforming the raw data into visible images coupled with the need for high-power computing for advanced driver assistance systems and infotainment systems will offer robust opportunities in the market in the forecast period.
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Restraints and Challenges
Technical Complexities to act as Market Challenge
The technical complexities to generate clearer images may act as a market challenge over the forecast period.
The image signal processor market has been segmented based on application, technology, image type, and component.
By component, the global image signal processor market is segmented into services, software, and hardware.
By image processing method, the global image signal processor market is segmented into digital image processing and analog image processing.
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By image type, the global image signal processor market is segmented into 3D, 2D, and 1D.
By technology, the global image signal processor market is segmented into multiple instructions multiple data (MIMD), and single instruction multiple data (SIMD).
By application, the global image signal processor market is segmented into personal robots, drones, smart homes, smartphones, gaming, automotive, internet protocol cameras, smart cities security, and others.
The impact of the COVID-19 outbreak had a meaningful impact on the technology industry, disturbing the electronics value chain, impacting the supply of raw materials, and creating an inflationary risk on products. The disruption more positively has made an expedition of remote working along with an accelerated focus to assess and de-risk the end-to-end value chain. These factors collectively may affect the image signal processor (ISP) market.
APAC to Precede Image Signal Processor Market
The Asia Pacific region will precede the market over the forecast period. Advances in image sensing and processing technologies have motivated companies in introducing technology-compliant camera modules in Japan, demand for display signal processor, the growing need for highly detailed images for use in gaming as well as portable imaging devices by consumers in South Korea, Japan, and China are adding to the global image signal processor and vision processor market in the region.
North America to Have Favorable Growth in Image Signal Processor Market
North America will have favorable growth in the market over the forecast period for constant adoption of new imaging technologies with ISP manufacturers making heavy investments in R&D that has encouraged the camera module manufacturers in miniaturizing SoCs of their products and developing technically advanced cameras modules.
Eminent players profiled in the global image signal processor market report include STMicroelectronics (Switzerland), THine Electronics, Inc. (Japan), ON Semiconductor (US), Arm Limited (UK), Intel Corporation (US), Texas Instruments Incorporated (US), Leica Geosystems (Germany), Sigma Corporation (Japan), Fujitsu (Japan), Panasonic Corporation (Japan), Xperi Corporation (US), Nikon Corporation (Japan), Sony Corporation (Japan), Canon Inc. (Japan), and OmniVision Technologies, Inc. (US). Other players in the market include Xilinx (US), Seiko Epson Corporation (Japan), NXP Semiconductors (Netherlands), OMNITEK (UK), Konica Minolta, Inc. (Japan), and Socionext Inc. (Japan).
Key players have incorporated several strategies to stay at the forefront such as new product launches, mergers and acquisitions, partnerships, and more.
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