Current trends and future estimations are outlined to determine the overall market scenario.
Portland, OR -- (SBWIRE) -- 06/01/2018 -- Accelerometer & Gyroscope Market by Type and Industry Vertical Global Opportunity Analysis and Industry Forecast, 2014 - 2022. Global Accelerometer and Gyroscope Market was valued at $3 billion in 2015, and is projected to reach $5 billion by 2022, growing at a CAGR of 7.0% during the forecast period. An accelerometer is a sensor that processes physical acceleration felt by any object, owing to inertial forces or automated excitation. It is an electromechanical device that calibrates acceleration forces. A gyroscope is a device used to control the angular movement of a mechanical object
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Factors that assist the market growth include increase in demand for consumer electronics, rise in number of vehicles globally, and high military spending. However, low accuracy of these sensors restrains the market growth. Increase in automation for vehicles and low power consumption & small size are anticipated to provide numerous opportunities for market growth during the forecast period.
Accelerometer is a type of sensor that measures physical acceleration of the device in relation to the free fall in one direction. Usually, an accelerometer equipped in modern devices is tri-axial, which has three dedicated units aligned with each direction to measure acceleration along them. Gyroscopes sense angular movement along one rotational direction. Accelerometer and gyroscope only provide information about the movement of a device, either in linear or rotational direction; however, they do provide any information about the orientation of the device. In complex systems, such as, satellites, space vehicles, and missiles, inertial navigation system is used by the combination of accelerometers and gyroscopes.
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In 2015, Asia-Pacific accounted for over two-thirds of the Accelerometer and Gyroscope Market, and is expected to retain its dominant position, owing to the presence of emerging nations with high share in consumer electronics market, rise in defense budget, and increase in industrialization in the countries.
The major companies profiled in the report include Analog Devices, Inc., Honeywell International Inc., InvenSense, Inc., KIONIX, Inc., Murata Manufacturing Co., Ltd., Northrop Grumman LITEF GmbH, NXP Semiconductors, Robert Bosch GmbH, Sensonor AS, and STMicroelectronics.