The booming aerospace sector, in particular, is a key contributor to the accelerometer and gyroscope market, as gyroscopes are a vital component of aircraft navigation systems and are used in almost every modern aircraft.
San Francisco, CA -- (SBWIRE) -- 07/19/2017 -- Accelerometer and Gyroscope Market: Snapshot
Accelerometers and gyroscopes are sensing devices used to obtain the lateral as well as longitudinal position of an object. The utility of accelerometers and gyroscopes has been enhanced by the rising use of electronic location tracking systems and the development of a technological web based on the ability of commonly used consumer devices to provide constant location tracking info about the user. Consumer electronic devices such as smartphones have become the key application segment for the global accelerometer and gyroscope market in recent years and is likely to continue as the key contributor to the market in the near future.
Rising defense expenditure is also a major driver for the global accelerometer and gyroscope market, as the utility of location tracking in defense operations has become widely recognized of late and has led to widespread installation of accelerometers and gyroscopes on military equipment. The booming aerospace sector, in particular, is a key contributor to the accelerometer and gyroscope market, as gyroscopes are a vital component of aircraft navigation systems and are used in almost every modern aircraft.
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Due to the concentration of end uses of accelerometers and gyroscopes n urban avenues such as consumer electronics and automobiles, the rapid urbanization across the developing world is likely to remain a key driver for the global accelerometer and gyroscope market in the coming years. The consistent technological advancement in urban infrastructure in developed regions is also likely to remain crucial for the market over the coming years. The development of the self-driving vehicles sector is likely to make the automotive industry a key consumer in the accelerometer and gyroscope market.
Global Accelerometer and Gyroscope Market: Overview
Various types of sensing devices are used to determine the position, rotation, and trajectory of an object, with gyroscope and accelerometer as the most common sensory devices. Although both gyroscope and accelerometer are similar in purpose, the former helps in determining orientation of an object while the other measures gravitational acceleration. Collectively, accelerometer and gyroscope profile variety of essential information when combined into a single device. Accelerometers are now commonly used in a variety of consumer electronic items such as smartphones while a gyroscope helps an aircraft in determining the rate of rotation around the aircraft roll axis. Increasing usages of these devices in several sectors including defense and consumer electronics is ensuring that global market for accelerometer and gyroscope will expand at a healthy CAGR during the forecast period of 2017 to 2025.
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This report on global accelerometer and gyroscope market analyzes the dynamics such as drivers, restraints, trends, and opportunities, and aims to serve as an asset for the existing and new players. It also contains a dedicated section on company profiles wherein several key players of the market have been studied for their market share, product range, and recent strategic developments. The global market for accelerometer and gyroscope can be segmented on the basis of type, dimensions, application, and geography. By type, accelerometers can be segmented into MEMS, piezoelectric, piezoresistive, and others including mechanical accelerometers. On the other hand, type segments of gyroscope can be MEMS, ring laser, fiber-optic, hemispherical, dynamically tuned, and others including gyrostat. By dimension, the market can be categorized into 1 axis, 2 axis, and 3 axis. By application, the segment of low-end application is bifurcated into transportation and electronics while high-end applications can be defense, aerospace, remotely operated vehicle, industrial, and medical. Geographically, the report studies the opportunities available in regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Global Accelerometer and Gyroscope Market: Trends and Opportunities
Increasing defense expenditure across the world is the primary driver of this market. Besides that, factors such as growing usage of accelerometer and gyroscope in end-user industries, emergence of advanced and compact MEMS technology, strict regulations for automotive industry pertaining to safety and security, and growing adoption of automated processes in industries and homes will further augment the demand. Previously, a relatively smaller part of the developed world utilized these devices but now, several emerging economies are extending the demand, owing to rapid urbanization. This factor is also expected to positively reflect on the global market.
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The demand for high-end applications of gyroscope and MEMS accelerometer are anticipated to expand at the most prominent growth rate during the forecast period, while 3-axis accelerometers and gyroscopes serve maximum demand in terms of dimension segment. This can be attributed to growing level of integration in the manufacturing sector in order to reduce number of components per device and weight of overall product, for which 3-axis devices are almost ideal.
Global Accelerometer and Gyroscope Market: Region-wise Outlook
The region of Asia Pacific currently serves the maximum demand for accelerometer and gyroscope, which is attributed to newly made manufacturing units for low-end applications such as consumer electronics and automotive in the region. North America and Europe are expected to remain moderate regional markets during the forecast period.
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