The global image sensor market size is estimated to be USD 26.1 billion in 2022 and is projected to reach 38.6 billion by 2027, at a CAGR of 8.1% during the forecast period. The market has a promising growth potential due to several factors, increasing use of image sensors in advanced medical imaging solutions and growing adoption of ADAS in automobiles.

An image sensor is a semiconductor device that can convert optical images into digital signals. They are widely used in digital cameras and other electronic optical devices. An image sensor uses the photoelectric conversion function of the photoelectric device to convert the light image on the photosensitive surface into an electrical signal in a proportional relationship with the light image.

“3D image sensors: The fastest-growing segment of the image sensor market, by processing technique“
The 3D image sensors segment of the market is projected to grow at a higher CAGR during the forecast period. This growth can be attributed to the rising adoption of 3D image sensors in AR/VR, automotive, 3D sensing, and simultaneous localization and mapping (SLAM) applications owing to their depth-sensing ability. Further, 3D image sensors are a superior choice than 2D sensors as they can compensate for the shortcomings of 2D by recording correct depth information, resulting in a point cloud, which is a considerably superior object in terms of precision.

“5 MP to 10 MP resolution: The second largest resolution segment of the image sensor market.”
In 2021, the 5 MP to 10 MP resolution segment accounted for the second largest size of the image sensor market. The growth of this segment can be attributed to its benefits such as have low power consumption and a small footprint.They are widely used in low-end devices such as facial authentication systems, advanced driver assistance systems (ADAS), in-cabin ADAS, tablets, etc The growth of ADAS in automobiles drives the growth of this segment. Further, companies have also been actively launching new products within this range. For instance, in 2021, Sony Group, launched a 2/3-type CMOS image sensor for industrial equipment that is ultraviolet light (UV)-compliant and has the industry’s highest effective pixel count of roughly 8.13 megapixels, and OMNIVISION launched OH08A and OH08B CMOS image sensors?the first 8-megapixel resolution sensors for single-use and reusable endoscopes

“Area Image Sensors: The fastest-growing segment of the image sensor market, by array type“
The area image sensors segment is projected to lead the image sensor market during the forecast period as they perform admirably on discrete components, they are used in a disproportionately high number of simple machine vision applications. Further, they are simpler to use and easier to install than their line image sensors counterparts, more cost-efficient and have a broader range of applications than line image sensors. Thus, the segment is expected to grow at a higher CAGR during the forecast period.

“Visible spectrum: The largest segment of the image sensor market, by spectrum“
In 2021, the visible spectrum segment held a larger share of the image sensor market than the non-visible spectrum segment. The growth of this segment can be attributed to the increased use of image sensors in consumer electronics due to the advantages of reduced power consumption, simplicity of integration, speed, and cost factor. The increased demand for cameras with varied resolutions for use in smartphone photography, wearables, commercial drone, and service robots has bolstered the market growth.

“Automotive: The fastest-growing segment in the image sensor market, end-user.”
The automotive segment of the market is projected to grow at the highest CAGR from 2022 to 2027. The key factor contributing to the growth of this segment is the increasing safety concerns among automobile manufacturers. The adoption of image sensors in advanced driver assistance systems (ADAS) and the trend of autonomous vehicles provide opportunities for market growth.

Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

  • By Company Type– Tier 1- 45%, Tier 2- 35% Tier 3 - 20%
  • By Designation- C level - 32%, Managers - 40%, Other Level - 28%
  • By Region- North America - 30%, Europe - 24%, Asia Pacific - 33%, Rest of the World- 13%,

The image sensor market is dominated by a few globally established players such as Sony Group (Japan), Samsung Electronics Co., Ltd. (Japan), OMNIVISION (US), STMicroelectronics N.V. (Switzerland), and GalaxyCore Shanghai Limited Corporation (China).

The study includes an in-depth competitive analysis of these key players in the image sensor market, with their company profiles, recent developments, and key market strategies.

Research Coverage:
The report segments the image sensor market and forecasts its size, by volume and value, based on region (Asia Pacific, Europe, North America, and Rest of the World), technology(CMOS image sensors, CCD image sensors, and others), processing technique (2D image sensors, and 3D image sensors), spectrum (visible spectrum, and non-visible spectrum), array type (area image sensors, and linear image sensors) resolution (VGA, 1.3 MP to 3 MP, 5 MP to 10 MP, 12 MP to 16 MP, and More than 16 MP) and end-users (aerospace, defense, and homeland security, automotive, consumer electronics, medical and life sciences, industrial, and commercial)

The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the image sensor market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the image sensor market and provides them information on key market drivers, restraints, challenges, and opportunities.