以利基為突圍之道：原相科技的經營發展策略

Abstract

本研究以台灣中型感測器設計公司——原相科技（PixArt Imaging Inc.）為研究個案，探討其在 CMOS 影像感測器（CMOS Image Sensor, CIS）產業中所採行的經營發展策略。在全球影像感測器市場由大型企業如 Sony、Samsung、OmniVision 等主導的競爭格局下，原相科技如何運用自身資源與技術能力，在滑鼠與遊戲等利基應用市場中成功突圍，為本研究關注的核心議題。 研究方法上，本文採取個案研究法結合產業分析與策略評估工具，包含五力分析、BCG 矩陣與 VRIO 分析，透過多角度拆解 PixArt 的外部市場環境與內部資源配置，並進一步評估其在滑鼠與遊戲應用市場中所展現的競爭策略與關鍵成功因素。 研究結果發現，PixArt 選擇避開高度競爭的主流手機影像感測市場，轉而聚焦於技術穩定性與反應速度為首要考量的滑鼠與遊戲裝置領域。透過模組化整合、客製化設計與長期品牌合作，PixArt 建立起技術門檻與供應鏈黏著力，使其即使面對規模不對稱的國際競爭對手，仍能穩定擴張市佔與維持高毛利率表現。尤其在與國際品牌如 Logitech、Nintendo 的合作案例中，更展現其感測器產品與系統整合能力的優勢。 本研究也針對 PixArt 在滑鼠與遊戲市場的五力因素進行細緻拆解，說明其如何透過技術差異化、供應鏈彈性與客戶黏著度，應對產業競爭壓力與外部威脅。最終，本文提出三項策略建議：一、強化感測模組中高端應用的技術領導性；二、深化客戶共創研發與客製整合；三、佈局新興感測應用場景（如智慧家庭、健康追蹤、AI 體感交互）以持續拓展成長動能。本研究期望能為利基型中小企業在高度集中技術產業中的生存與發展提供策略參考，並為感測器產業的競爭策略研究帶來具體個案啟示。

This study investigates the business development strategies of PixArt Imaging Inc., a medium-sized Taiwanese company specializing in CMOS image sensors (CIS), with a focus on how it successfully competes in niche markets despite being surrounded by global industry giants such as Sony, Samsung, and OmniVision. In an industry characterized by high capital intensity, rapid technological advancement, and economies of scale, PixArt has adopted a focused differentiation strategy that emphasizes customization, system integration, and long-term customer collaboration. Adopting a case study methodology, this research integrates strategic frameworks including Porter’s Five Forces, the BCG Matrix, and VRIO analysis to systematically evaluate PixArt’s positioning in the mouse and gaming applications—two major revenue-generating segments. Drawing from industry reports, financial disclosures, and comparative analysis, the study explores how PixArt leverages its design capabilities and modular integration know-how to maintain competitiveness in high-margin segments while avoiding direct confrontation with large-scale competitors in the smartphone CIS market. Findings reveal that in the mouse application market, PixArt capitalizes on its economies of scope and flexible product design to dominate both standard and high-end gaming segments. Meanwhile, in the gaming application market, its long-term partnerships with major global brands such as Nintendo allow it to provide highly customized motion-sensing modules that meet strict technical requirements in latency, accuracy, and device compatibility. This research further deconstructs the competitive forces across both applications and highlights the key success factors underpinning PixArt’s strategy: technological differentiation, resilient supply chain management, and embedded customer value creation. Despite limited capital resources, PixArt has demonstrated how strategic focus and technical specialization can enable sustained growth and profitability in an otherwise scale-dominated industry. The study concludes with strategic recommendations, including strengthening high-end application R&D, deepening co-development initiatives with customers, and expanding into emerging application domains such as smart home, health monitoring, and AI-powered human-machine interaction. This case offers actionable insights for niche players seeking to thrive under the pressure of large incumbents in the global semiconductor industry.