In 2017, the global image sensor market reached $15,934.8 million and is predicted to advance at a 6.2% CAGR during the forecast period (2018–2023). This is due to the development of low-power and compact complementary metal-oxide-semiconductor (CMOS) image sensors, rising usage of image sensors in biometric applications, and increasing demand for dual-camera mobile phones.
Image sensor is an electronic component which detects light waves and converts them into digital signals for conveying information. These sensors work on the principle of the conversion of variable attenuation of light waves into digital or analog signals.
Based on processing type, the image sensors 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.
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.
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Image sensors are being rapidly used in the automotive industry, specifically in advanced driver-assistance system (ADASs). They increase the driver safety by collecting information on nearby vehicles. ADAS includes different types of semiconductor devices, such as radio detection and ranging, and light detection and ranging-integrated sensors and cameras, which give drivers a complete view of their surroundings.
Thus, growing concerns towards vehicle and driver safety and surging demand for improved image quality in mobile phones are accelerating the image sensors market.
