Low Light Imaging Market To Generate $51,466 Million Revenue by 2030

The low light imaging market size is expected to advance at a CAGR of 10.15% during 2022–2030, to reach USD 51,466 Million by 2030. This can be ascribed to the advancements in sensor technologies and processing power. Moreover, the availability of various imaging technologies with AI-powered vision computing algorithms into camera modules to address both computer and human vision functional requirements and their applications in several sectors, such as automotive, electronics, construction, robotics, augmented reality, and automated surveillance, are driving the industry.

The surveillance at borders and sea & air ports day and night mandates systems to work even under the worst weather and visibility conditions. Moreover, charge-coupled devices (CCDs) and cooled thermal imagers are extensively used together to detect if there are any issues. This is boosting the demand for low-light imaging.

In various fields, such as healthcare, security, and defense, the requirement for clear visuals is increasing year-on-year. New imaging technologies have been improved to enhance the performance of image sensors because traditional cameras are unable to capture vivid images in low-light imaging applications such as organic photodetectors, SWIR image sensors, hyperspectral imaging, and flexible detectors. These novel technologies have various advantages such as cost reduction, higher temporal resolution, high-resolution shutters, flexibility, spatially variable sensitivity, and expanded dynamic range.

Increasing Demand for Low-Light Imaging in the Automotive Sector Drives the Market

The most fundamental necessity of ADAS is that images created ought to be extremely simple to understand, as the driver has an exceptionally brief time period to respond. A thermal imager can produce detailed images with high quality of the road at night time but alone is not enough because this makes it problematic for drivers to comprehend the scene and respond quickly.

With the help of a low-light sensor, images can be produced that are easy to understand, but their performance varies reliant upon the amount of visible light, though most low-light sensors are good enough to operate under star-lit situations. This drives the demand, as it can offer the feature of adjusting automatically according to the illumination conditions and can provide advantages to the driver.

In recent years, the need for automotive cameras has increased and are becoming the standard equipment for autonomous vehicles, as the demand is growing for in-cabin, autonomous cars with rear view, ADAS and surround-view, thermal camera, blind-spot, 3D cameras, and even fusing with radar and LiDAR becoming ubiquitous. Thus, these factors create a huge requirement for low-light imaging in the automotive industry.

North America Holds Second-Largest Market Share

North America accounted for the second-largest market share in 2022. This is attributed to the rapid technological advancements and the existence of key players in the region. For instance, advancements in CMOS image sensors that minimize vibrations and noise are accelerating the usage of low-light imaging products.

The European low light imaging market is also growing at a significant rate. This is due to the surging automotive, industrial, residential infrastructure, and commercial verticals in the region. Moreover, Germany is one of the key contributors to the regional market, mainly because of the high need for low-light imaging systems from the automotive sector in the nation.

The most-significant low light imaging market players are Sony Corporation, Samsung Electronics Co. Ltd., Omnivision Technologies Inc., ON Semiconductor Corporation, STMicroelectronics Inc., Panasonic Holding, Canon Inc., PixArt Imaging Inc., Hamamatsu Photonics K.K., and Teledyne Technologies Incorporated.