The global image sensors market is expected to reach $23.2 billion by 2023, registering a CAGR of 6.2% during the forecast period (2018–2023). Development of low-power and compact complementary metal–oxide–semiconductor (CMOS) image sensors, rising demand for dual-camera mobile phones, and increasing use of image-sensing devices in biometric applications are the key factors driving the growth of the market.
Insights into market segments
Based on array type, the image sensors market is bifurcated into linear and area image sensors. Of the two, the linear category is expected to witness faster growth in the market during the forecast period. This can be attributed to the increasing use of linear image sensors in applications that require both speed and high-quality images, such as multifunction printers, spectroscopy, scanners, edge detection, copiers, barcode readers, and cash machines. Moreover, healthcare and automotive are the two key sectors that are expected to generate a high demand for linear-array-type image sensors in the near future.
Asia-Pacific (APAC) to be the largest market for image sensors
Geographically, APAC is expected to be the largest image sensors market in the forecast period. China and Japan are the major revenue contributors in the APAC market, and India is expected to be the fastest-growing market in the region. This can be ascribed to the easy availability of low-cost laborers and increasing number of new production facilities in the country.
Rising demand for dual-camera mobile phones driving the market growth
The image sensors market is witnessing notable growth on account of the rising demand for dual-camera mobile phones across the world. The CMOS technology-based sensors are increasingly being used in dual-camera mobile phones, on account of the growing consumer interest in photography. Moreover, due to the changing trends in the mobile technology and advancements in the connectivity technology, there is a substantial demand for dual-camera mobile phones in the market.
Increasing application of image sensors in automobiles offering lucrative opportunities to market players
Image sensors are experiencing a high demand from automotive companies, particularly for advanced driver-assistance system (ADAS) applications. Image sensors are used in the ADAS to help increase the safety of the driver. ADAS includes various semiconductor units, such as light detection and ranging (LIDAR) radio detection and ranging (RADAR) integrated cameras and sensors, which assist drivers in getting images of their surroundings. One more application of ADAS is lane departure warning (LDW), which warns the driver when his/her vehicle moves out of the lane. Hence, the increasing application of image sensors in automobiles is creating growth opportunities for the players operating in the image sensors market.
Image sensors market competitiveness
The image sensors market is consolidated, with top three companies accounting for around 70% share in 2017. Key players in the market are focusing on product launches to increase their portfolios. For instance, in 2018, OmniVision Technologies Inc. launched an RGB-Ir image sensor, OV9738, which can be used in infrared (IR) and color imaging applications. The product has IR biometric capabilities for gesture interface and facial recognition. Besides, its integration helps lower the overall cost of the system.
Some of the key players operating in the global image sensors market 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.
IMAGE SENSORS MARKET SEGMENTATION
By Processing Type
By Operating Spectrum
By Array Type