The image sensor market size is expected to advance at a CAGR of 8% during 2022–2030, to reach USD 49,275 million by 2030.
The demand for imager is experiencing significant growth due to the rise in the demand and sales of dual-camera mobile phones. Moreover, CMOS image sensors are widely used in dual camera mobile phones owing to surging consumer interest in next-generation photography.
The increasing popularity of social media platforms has enabled users to share high-quality photos. This has led many companies to manufacture smartphones featuring a smart and dual-camera system. The dual-camera technology enables improved image quality and sensitivity through advanced image sensors. In addition, the increasing demand for dual cameras in smart devices has led to the entry of many OEMs in the image sensor industry with innovative, low-power products.
Moreover, changing trends in mobile technology and advancement in connectivity technology has also generated a significant demand for dual-camera mobile phones in the market. The migration from second-generation to third- and fourth-generation technologies in developing markets, such as China and India, along with the increasing market for low-end smartphones and featured smartphones, will drive the market in the coming years.
CMOS image sensors are mostly integrated with the chip of a digital camera, which makes it a single-chip digital camera with a compact size and low power consumption. These advantages of CMOS image sensors have expanded their application beyond traditional digital cameras, into biometrics, PC cameras, mobile phones, personal digital assistants (PDAs), and automobiles.
The growth of the market is strongly backed by the production of low-power and compact image sensors by the major players.
For instance, in October 2019, Sony Corporation introduced six types of stacked CMOS image sensors. To provide a global shutter function, the back-illuminated pixel structure is used. Similarly, in February 2019, world's smallest 3-D image sensor chip for smartphones, known as REAL3, is being created by Infineon Technologies AG in collaboration with PMD Technologies AG. Deep sensing and gesture control capabilities of the image sensor enable context-based human-machine interaction.
During the forecast period, the automotive category is expected to grow at the faster rate of more than 12%. This is because of the increasing investments and strategic developments by key players to encourage the growth of image sensors in the automotive sector. The increase in R&D initiatives on driverless vehicles and the ADAS is further encouraging the usage of image sensors in automotive applications.
Moreover, the consumer electronics category is expected to continue being the largest revenue generator in the global market. This is owing to the shifting consumer preference for dual-camera smartphones and increasing sales of consumer electronic devices featuring a camera.
Among all consumer electronics applications, image sensors are widely used in smartphones and tablets. During the forecast period, the demand for image sensors used in commercial drones is expected to grow at the highest rate. Furthermore, image sensors are used in the healthcare and life sciences sector, in areas such as cardiology, fluoroscopy, radiography, mammography, X-ray imaging, dental surgery, and endoscopy. Surgical operations requiring thin cameras and demanding minute observations involve the use of image sensors. Moreover, such sensors are also used in security and surveillance applications for monitoring data remotely.
The most-significant image sensor market players are Sony Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., OmniVision Technologies Inc., Canon Inc., STMicroelectronics N.V., Toshiba Corporation, SK hynix Inc., ON Semiconductor Corporation, and Hamamatsu Photonics K.K.