Image Sensors Market to Grow at a Stable Rate During the Forecast Period

With the rising demand for dual-camera mobile phones for better image quality and growing image sensor usage in biometric applications, the image sensor market is witnessing significant growth. In 2017, the market generated a revenue of $15,934.8 million, and it is predicted to progress at a CAGR of 6.2% during the forecast period (2018–2023).

On the basis of technology, the image sensor market is bifurcated into charge-coupled device (CCD) and complementary metal-oxide-semiconductor (CMOS). Of these, during the historical period (2013–2017), CMOS technology dominated the market in terms of value, and it is also predicted to generate the highest revenue during the forecast period.

Image sensor is an electronic piece that senses light waves and transforms them into digital signals to deliver information. It works on the conversion principal of variable attenuation of light waves into digital or analog signals.

The reason behind its dominance is the rising deployment of the technology in biometrics, digital cameras, mobiles phones, and automobiles, owing to its various benefits such as lower power consumption, easier on-chip integration, and faster frame rate.

Based on processing type, the image sensor market is classified into three-dimensional (3D) and two-dimensional (2D) image sensors. Of the two, in 2017, the 2D image-sensing devices registered a dominating revenue share of 70.0% in the market, and it is also anticipated to maintain its lead during the 2018–2023 period.

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This is mainly ascribed to the fact that such devices have a wider availability in the market and offer greater compatibility with different systems. These devices are widely deployed for industrial temperature monitoring and measurement, and heat and body temperature detection purposes.

Thus, growing concerns towards vehicle and driver safety and surging demand for improved image quality in mobile phones are accelerating the image sensor market.