The research group MarketsandMarkets segmented the low-light image sensor market into two technology groups: complementary metal-oxide semiconductor (CMOS) and charge-coupled device (CCD). Both CMOS and CCD sensors power digital cameras, converting light into electrons. But CMOS sensors are much less expensive to manufacture.
According to MarketsandMarkets, CCDs have traditionally accounted for the largest market share due to their higher resolution and light sensitivity. “However, at present, CMOS image sensors are quite popular because of their cost effectiveness, fast processing speed, and low power consumption,” according to MarketsandMarkets’ latest research report “Low-Light Imaging Market.”
The report says the low-light imaging market is expected to grow from $10.04 billion in 2019 to $18.36 billion by 2024, growing at a CAGR of 12.84% during that time frame. Main drivers for this growth include the increasing penetration of low-light image sensors in smartphones and also a rising demand for advanced driver-assistance systems.
The CMOS technology-based market is expected to dominate during the forecast period. The commanding position of the CMOS technology segment can be attributed to its advantages including small size, low power consumption, easy integration, faster frame rate and lower manufacturing cost.
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However, the generally high manufacturing cost of low-light imaging sensors is hindering the growth of market to a certain degree.
In addition to smartphones and advanced driver-assistance systems, low-light imaging products find applications in medical and life sciences; industrial, commercial, and residential infrastructure; and military and defense verticals to perform several functions such as security, surveillance, monitoring, inspection, and photography.
Key players in the low-light imaging market include Sony (Japan), Samsung Electronics (South Korea), ON Semiconductor (US), STMicroelectronics (Switzerland), OmniVision Technologies (US), Teledyne Technologies (US) and Panasonic (Japan).
The low-light imaging value chain consists of 5 stages—research and product development; manufacturing and assembly; distribution; marketing and sales; and post-sales services. The maximum value is added during the manufacturing and assembly phase.