Both Panasonic G2 and Canon S120 have 12.0 MP resolution sensors but Panasonic G2's sensor is Four Thirds (17.3 x 13 mm ) and Canon S120's sensor is 1/1.7-inch (7.44 x 5.58 mm ).
Since Panasonic G2's has a larger sensor area with the same resolution, this means that it also has a larger pixel area hence better light collecting capacity for a given aperture compared to Canon S120.
Below you can see the G2 and S120 sensor size comparison.
Sensor Size and Resolution Comparison image of Panasonic G2 and Canon S120 Cameras
As seen above, Panasonic G2 has a 5.4x Larger sensor area than Canon S120. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.
DxOMark Sensor Scores
DxOMark is a benchmark that scientifically assesses image quality of camera sensors. It scores camera sensors for color depth (DXO Portrait), dynamic range (DXO Landscape) and low-light sensitivity (DXO Sports), and also gives them an overall score. Panasonic G2 and Canon S120 sensors have been tested by DxO and the results show that S120 has a better overall score of 56, 3 points higher compared to G2's score of 53.
Model
Overall
Color Depth
Dynamic Range
Low-light ISO
Panasonic G2
53
21.2 bits
10.3 Evs
493 ISO
Canon S120
56
21.3 bits
11.9 Evs
246 ISO
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Panasonic G2
or the
Canon S120 ,
including hyperfocal distance.
One thing to watch when comparing these two: they have different sensor sizes
(Four Thirds versus 1/1.7-inch),
so compare them at the same framing rather than the same focal length.
Put the same focal length on the smaller sensor and it will show less depth of
field, not more, because it also crops tighter. The calculator shows the
full frame equivalent focal length for each body so you can match the framing.