Image sensors are primarily used in a significant number of imaging devices and digital cameras to improve image quality. The imaging applications are highly utilized in various sectors, including media, automotive, industrial, consumer, and medical applications. Manufacturers around the globe are striving to enhance parameters such as performance, resolution, and pixel size for better image quality in varied circumstances. There are two types of image sensors, namely, Charged Couple Device (CCD) and Complementary Metal-Oxide-Semiconductor (CMOS). The manufacturing of CMOS sensors is estimated to be less expensive than CCD sensors manufacturing. CCD creates high-quality images with less noise; on the other hand, CMOS sensors are more susceptible to noise.
Significant research and development activities and the high adoption rate of these devices by many sectors puts the image sensor market in the growth phase.
Increased usage of dual camera and image sensors in mobile devices and the improvements of image sensors to further reduce the size of the camera in smartphones are boosting the growth of the image sensor market. The majority of the smartphone and tablet manufacturers offer dual camera-enabled phones. These products offer high-quality resolution in cameras with the use of image sensors. The majority of the smartphones embedded with cameras employs CMOS image sensors as they require less power compared to CCD cameras. Majority of the smartphone manufacturers focus on developing high-quality cameras to attain a competitive edge. For instance, in 2017, Samsung launched two ISOCELL image sensors for smartphone applications in order to satisfy the requirements for sleeker smartphones with high-resolution image sensors in small chips.
Owing to strict government regulations, most companies implement driver-assistance and safety cameras as the standard. Moreover, innovation in autonomous vehicle technology and advanced driver assistance systems are creating lucrative opportunities for the market. However, the high manufacturing costs of these devices is anticipated to inhibit the market growth.
CMOS devices provide slow shutter speed while delivering high-quality images, which leads to an increase in demand for high-definition imaging devices in industries, thus dominating the market. The increasing attraction of customers toward high-resolution camera embedded phones forced smartphone manufacturers into employing high-quality image sensors in the devices. Furthermore, smartphone companies are increasingly investing in innovations in the smartphone’s camera to enhance the resolution and thereby attract customer attention. For example, Samsung launched the Galaxy S10 with four cameras, including three rear cameras, and one front camera.
Moreover, the rising demand for CCTV cameras also contributes to market growth. The construction industry is flourishing, and buildings are incorporated with CCTV cameras for security and surveillance, which largely supports the image sensor market.
The wide implementation of these devices in smartphones and cameras results in the consumer electronics segment holding the lion’s share of the market. Image sensors are also employed in information technology, entertainment devices, home appliances, and communication products. Image sensor technology offers a significant amount of benefits that electronics manufacturers can utilize in order to enhance the device designs, meet specific customer requirements, and differentiate between products in the marketplace.
The increased surge in smartphone usage, increased investments by the automotive sector, and rising demand for security and surveillance of public spaces fuel the market growth in this region. Significant investments in the automotive sector by companies drive market growth in Asia-Pacific. Prominent automotive companies invest significantly in order to increase the safety and comfort levels of the drivers and passengers by implementing advanced technologies with the help of technology companies. Japan-based car manufacturers, including Nissan Motor Company Ltd. and Toyota Motor Corporation, are implementing Advanced Driver Assistance Systems (ADAS) that offer parking assistance, automatic headlight dimming, collision avoidance systems, and lane departure warning. Advanced Driver Assistance Systems utilize image sensors to capture images to assist the drivers in an effort to reduce accidents while driving. Hence, the increased usage of image sensors in the automotive sector is propelling market growth in Asia-Pacific.
India: Country shows a high growth rate for the image sensor market attributed to the increased proliferation of smartphone users. Supportive Foreign Direct Investment (FDI) policy has encouraged overseas players to invest in the country. Most of the overseas manufacturers have set up manufacturing units in India to keep up with the rising demand from South Asian and MEA (the Middle East and Africa) regions for sensor-enabled products. For instance, in 2018, Samsung opened a mobile phone manufacturing facility in Noida, Uttar Pradesh, to export mobile handsets produced in India to overseas markets.
Some of the prominent players in the global image sensor market include Canon Inc., Sony Corporation, Samsung Electronics Co. Ltd., STMicroelectronics N.V., ON Semiconductor Corporation, Panasonic Corporation, SK hynix Inc., OmniVision Technologies Inc., Toshiba Corporation, Hamamatsu Photonics K.K., and ON Semiconductor Corporation.
|Market Size||USD in Billion By 2030|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
|Segments Covered||by Type (Charged Couple Devices), End-User (Consumer Electronics, Healthcare, Industrial, Security and Surveillance)|
|Geographies Covered||North America, Europe, Asia-Pacific, LAME and Rest of the World|
|Key Companies Profiled/Vendors||Canon Inc., Sony Corporation, Samsung Electronics CoLtd., STMicroelectronics N.V., ON Semiconductor Corporation, Panasonic Corporation, SK hynix Inc., OmniVision Technologies Inc., Toshiba Corporation, Hamamatsu Photonics K.K., and ON Semiconductor Corporation.|
|Key Market Opportunities||Growing Prevalence Of Semiconductor & Electronics Industry Helps To Grow Image Sensor Market Share|