CMB International: The global CMOS image sensor market has emerged from a cyclical low, focusing on the rise of emerging application areas.

Zhaojin International released a research report stating that the global CMOS image sensor market has emerged from a cyclical low and is expected to rebound in 2024, with a year-on-year growth of 6.4% to reach $23 billion (Yole). This recovery marks the industry's entry into a new stage of structural differentiation and sustained growth. Although the mobile terminal sector still contributes over 60% of revenue, the future industry expansion will increasingly benefit from the accelerating penetration of automotive ADAS, as well as the vigorous development of emerging applications such as smart glasses and machine vision. Zhaojin International's main points are as follows: Competitive landscape shows integrated trends under strategic differentiation Technology leaders like Sony are breaking performance boundaries with large pixels and advanced stacking processes, while scale manufacturers like Samsung and agile competitors in China are driving the high-resolution revolution with high performance-to-price solutions to capture market share. The decisive factor for future leaders will be whether they can continue to achieve technological innovation, focus on high-growth niche areas, and adhere to cost optimization while coping with rising storage costs and supply chain pressures. They maintain a "buy" rating for OmniVision Integrated Circuits Group, Inc. (603501.SH), as it holds a favorable position in the mobile terminal, automotive, and emerging market segments, and is expected to further increase market share through the introduction of new products by 2025. Market dynamics in niche segments: stabilization in the mobile terminal market, accelerated growth in the automotive market, and the rise of emerging applications The CMOS image sensor market in the mobile terminal sector, which accounts for more than 60% of industry revenue, has stabilized, and future growth will primarily come from an increase in average selling prices. This is due to consumers shifting towards high-end models and generative AI smartphones, despite expectations for moderate growth in device shipments and a relatively stable number of cameras per device. In contrast, demand for CMOS image sensors in the automotive sector is expected to maintain double-digit growth from 2025 to 2027, driven not by vehicle production volume, but by the penetration rate increase in single-camera number under the push of ADAS, in-cabin monitoring, and continuous resolution upgrades. In addition to mature markets, emerging applications such as smart glasses and machine vision are opening up new growth channels, requiring dedicated sensors with features such as ultra-low power consumption, miniaturization, and global shutter technology, providing high-value growth opportunities for leading technology companies. Market competition landscape: accelerated integration and strategic differentiation The CMOS image sensor market is consolidating around a few leading companies, with each company establishing advantages through technological differentiation and strategic focus. Sony continues to lead the development of three-tier stacked architecture in the high-end market through technological superiority and large-scale research and development investments. Samsung, using the IDM model to focus on high-resolution and small pixel technology, consolidates its position as the industry's second-largest player, but its strategic focus on HBM may limit its market share growth in the CMOS image sensor market. Chinese manufacturers have become major industry disruptors: OmniVision Integrated Circuits Group, Inc. has shown excellent execution and surpassed ON Semiconductor to become the leader in the automotive CMOS image sensor market by 2024; companies like SSW (688213.SH) are actively expanding through high-performance-to-price solutions, rapidly increasing market share in the mobile terminal and security markets. The intense competition in the CMOS image sensor market is expected to continue, with winners needing a combination of sustained innovation, market strategy focus, and strict cost control capabilities.