Video as a Sensor Market to Reach $101.89 Billion by 2029
Exclusive Report by MarketsandMarkets™
March 8, 2023 – Chicago, IL – The video as a sensor market is projected to reach $101.89 billion by 2029, growing at a CAGR of 19.4% from 2023 to 2029. The growth of this market is attributed to the increasing adoption of video sensors in various applications, such as surveillance, security, and autonomous driving.
Key Findings:
- The surveillance segment is expected to hold the largest market share during the forecast period, owing to the rising demand for video surveillance systems in both commercial and residential applications.
- The automotive segment is expected to grow at the highest CAGR during the forecast period, due to the increasing adoption of video sensors in autonomous vehicles.
- The Asia Pacific region is expected to hold the largest market share during the forecast period, owing to the increasing adoption of video sensors in China and India.
Market Dynamics:
The growth of the video as a sensor market is driven by several factors, such as the increasing adoption of video sensors in various applications, the declining cost of video sensors, and the advancements in video sensor technology.
The declining cost of video sensors has made them more affordable for a wider range of applications. The advancements in video sensor technology have led to the development of more powerful and efficient video sensors.
Key Players:
- Sony Corporation
- Samsung Electronics Co., Ltd.
- Panasonic Corporation
- Hikvision Digital Technology Co., Ltd.
- Dahua Technology Co., Ltd.
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