Electronic Shutter Technology Market

The rising demand for multiple cameras in mobile devices is driving the market growth.

Market CAGR for electronic shutter technology is driven by the rising number of obese people. A person who is obese has an abnormally high level of fat in their body, which could be harmful to their health. With a significant impact on worldwide mortality and morbidity, obesity has recently emerged as a public health concern on a global scale. Since weight loss supplements are largely seen as healthy ways to lose weight, it is projected that the rising number of obese people would increase demand for them.

Additionally, the rising popularity of the ADAS system is boosting the electronic shutter technology market demand from the automotive sector. The trendy automotive sector is booming rapidly by adopting cutting-edge technologies such as machine vision, asset management, artificial intelligence, and related innovative technologies. Advanced driver assistant system has a 360-degree surround camera and is gaining popularity owing to its beneficial features, including 360-degree vision, lane departure warning, electronic stability control, anti-lock brakes, traction control, and adaptive cruise control. ADAS infrastructure greatly utilizes image sensors for its machine vision technology.

ADAS technology has pushed the concept of driverless cars or automated vehicles. These emerging concepts are expected to contribute significantly to increasing the adoption of electronic shutter technology and driving the demand for electronic shutter technology market revenue.

Enhanced quality of image processing techniques and imaging technologies are expected to result in the continuous development of electronic shutter technology. The electronic shutter technology functions as an electronic device qualified to recycle photons into an equivalent amount of electronic signal, thus, creating a digital image. The electronic shutter technology was initially limited to camera modules and connected imaging devices. With continued development, technological trends, including industrial automation, machine vision in robotics fields, the deployment of image sensors, and the adoption of advanced driver assistant systems (ADAS) in the automotive sector in various areas, have gained popularity.

Moreover, the recent advancements in technology and the growing number of digital photography platforms and social media platforms have created new opportunities for the vendors in the market studied. The numerous product launches with feature upgrades in recent years, along with newer payment methods and camera services, are expected to aid the market's growth. Major players, such as Nikon, Sony, Canon, and Fujifilm, are introducing innovations in mirrorless cameras and are highly optimistic about their adoption.

The Global Electronic Shutter Technology Market Industry experiences a surge in demand for high-resolution imaging solutions across various sectors, including consumer electronics, automotive, and security. As consumers increasingly seek superior image quality in devices such as smartphones and cameras, manufacturers are compelled to adopt electronic shutter technology to meet these expectations. This trend is reflected in the projected market value of 34.1 USD Billion in 2024, indicating a robust growth trajectory. The integration of electronic shutters enhances image clarity and reduces motion blur, making it a preferred choice for high-performance imaging applications.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American electronic shutter technology market will dominate due to the strong presence of the consumer electronics market, which is fueling the utilization of mobile camera modules and other movable devices at high speed, driving market growth in this region. Further, the US electronic shutter technology market held the largest market share, and the Canadian electronic shutter technology market was the fastest-growing market in the North American region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Electronic Shutter Technology Market SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's electronic shutter technology market accounts for the second-largest market share due to growing technological advancement and surging levels of investment in research and development activities in this region. Further, the German electronic shutter technology market held the largest market share, and the UK electronic shutter technology market was the fastest-growing market in the European region.

The Asia-Pacific electronic shutter technology market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the region's increased disposable income, enthusiasm for photography and the rising number of destination and big wedding events. Moreover, China’s electronic shutter technology market held the largest market share, and the Indian electronic shutter technology market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the electronic shutter technology market grow even more. Market participants are also undertaking several strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, higher investments, mergers and acquisitions, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the electronic shutter technology industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global electronic shutter technology industry to benefit clients and increase the market sector. Major players in the electronic shutter technology market, including General Mills Inc., Amway, Conagra Brands Inc., Cargill Incorporated, Abbott Laboratories, Kraft Foods Group Inc., and others, are attempting to expand market demand by investing in research and development operations.

STMicroelectronics NV is a manufacturer and provider of semiconductors. The firm develops and markets a wide range of products, such as custom devices and semi-custom devices ], discrete and standard commodity components, and application-specific standard and integrated circuits. It also produces and sells power modules, switches, clocks, data converters, automotive ADAS devices, imaging and photonics solutions, silicon chips and smartcards. STM uses various chip fabrication technologies, such as advanced FD-SOI, CMOS, embedded non-volatile memories, RF-SOI, optical sensing, analog and MEMS, mixed-signal, and smart power processes.

It serves customers in several markets, such as industrial, automotive, computers, personal electronics, communications equipment, and peripherals. In May 2022, STMicroelectronics introduced its unique global-shutter CMOS image sensors for driver monitoring systems. The unique global-shutter sensor, VB56G4A, leverages the firm's in-house investment in manufacturing enhanced 3D-stacked back-side illuminated image sensors. These are smaller, more reliable, and more sensitive than front-side illuminated conventional sensors typically utilized in first-generation DMSs.

Sony Group Corp manufactures electronic equipment, semiconductors, medical-related equipment, instruments, and devices. The company's products include televisions, mobile phones, cameras, music systems, game consoles and software, batteries, and other electronic components. Sony produces, acquires, and distributes recorded music, motion pictures, and television programming; and operates television and digital networks. The company markets products through sales subsidiaries, distributors, and direct sales through the Internet. In October 2019, Sony Corporation launched six types of stacked CMOS image sensors. The sensors are developed by centering on industrial equipment applications. The back-illuminated pixel structure is adopted to attain a global shutter function.