Organic CMOS Image Sensor Market Expected to Reach $2.87 Billion by 2028

According to a new report published by Allied Market Research, titled, “Organic CMOS Image Sensor Market by Image Processing, Array Type, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2028”, the global organic CMOS image sensor industry size was valued at $1.19 billion in 2020, and is projected to reach $2.87 billion by 2028, registering a CAGR of 12.4%. North America is expected to be the leading contributor to the global market during the forecast period, followed by Europe and Asia-Pacific.

The organic CMOS image sensors market holds high potential and experiences new technology innovations & upgrades. Companies in the image sensor market work toward technology improvement for creating high-resolution images. This leads to create organic CMOS image sensors, which can support 8K resolution without image distortion.

The global organic CMOS image sensor market share is anticipated to witness significant growth during the forecast period. Factors, such as high image quality and better color contrast, provided by organic CMOS image sensor drive the global market. In addition, introduction of technologies, such as global shutter technology, is expected to fuel the adoption of organic CMOS image sensors. However, organic sensor drains battery quickly as compared to the available image sensors, which may hinder the organic CMOS image sensor market growth. Conversely, high reliability for broader applications and faster & cheaper processing methods are anticipated to drive the growth of the market in future.

Moreover, developing nations tend to witness high penetration of organic CMOS image sensor products specially in consumer electronics segments. Surge in introduction of technologies, including 8K resolution and global shutter technology across the globe boosts the organic CMOS image sensor market growth.

The global organic CMOS image sensor market share is segmented on the basis of image processing, array type, application, industry vertical, and region. By image processing, the market is bifurcated into 2D sensor and 3D sensor. By array type, the market is classified into linear image sensors and area image sensors.  Based on application, the market is divided into 3D imaging, video, machine vision, biometrics, and others. Depending on industry vertical, the market is segregated into consumer electronics, automotive, medical & life sciences, security & surveillance, robotics, and others. 

Region-wise, the organic CMOS image sensor market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed maximum revenue in 2020. However, between 2020 and 2028, the organic CMOS image sensor industry in Asia-Pacific is expected to grow at a faster rate as compared to other regions. This is attributed to increase in demand from emerging economies such as India, China, Japan, and South Korea.

Covid-19 Impact Analysis

The arrival of COVID-19 has significantly affected the electronic and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are estimated to remain close in 2021 as well. Furthermore, partial or complete lockdown has disrupted global supply chain, posing challenges for manufacturers to reach customers. The overall production process has been adversely affected. However, the growth of consumer electronics and medical & life sciences sectors is expected to boost the global organic CMOS image sensor market.

Key Findings Of The Study

• The consumer electronics segment is projected to be the major industry vertical over the forecast period, followed by Automotive. The rising demand for technologies, such as 8K resolution and global shutter technology, is anticipated to surge the product demand in future. 
• Asia-Pacific and North America collectively accounted for more than 60% of the organic CMOS image sensor market share in 2020.
• India is anticipated to witness the highest growth rate during the forecast period.
• The U.S. was the major shareholder in the North America market, accounting for approximately 57% share in 2020.

The key players profiled in the report include ams AG, Canon Inc, Fujifilm Holdings Corporation, NikkoIA SAS, OmniVision Technologies, Inc., Panasonic Corporation, Samsung Electronics Co. Ltd., Siemens AG, Sony Corporation, and Xenics nv. These players have adopted various strategies, such as product launch, and acquisition, to expand their foothold in the industry.