According to a new report published by Allied Market Research, titled, "Accelerometer & Gyroscope Market - Global Opportunity Analysis and Industry Forecast, 2014 - 2022", the Accelerometer & 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% from 2016 to 2022. The MEMS accelerometer segment held major share among all the accelerometers in 2015.
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.
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.
In 2015, accelerometer contributed a major share in the market, and is expected to maintain its dominant position throughout the analysis period, due to its extensive usage across defense applications such as missile launch and control; in air bags of cars to activate them in case of sudden impact; and in several consumer electronic equipment. However, gyroscope is expected to grow with the highest CAGR of 7.3% during the forecast period.
Based on dimension, 3-axis accelerometer & gyroscope contributed the largest revenue share in 2015, attributed to its capability to measure linear and rotational movement of the device in all the three directions. The increase in demand for inertial navigation system across various industry verticals such as defense, automotive, consumer electronics, and industrial drives the demand for 3-axis accelerometer & gyroscope.
Consumer electronics segment dominated with more than 30% share in accelerometer & gyroscope market in 2015, as they are used in smartphones, laptop, and notebook computers. If a laptop falls off suddenly then, accelerometer placed near hard disk guards it by sensing the fall, and saves read head of hard disks from shattering by turning it off. In mobile phones, these sensors are used to provide features such as better image, shock sensing, scrolling feature, gaming control, activation of silent mode, and motion dialing. The swift rise in sale of consumer electronic equipment globally drive the need for accelerometers & gyroscopes.
According to Preeti Bisht, Research Analyst, Semiconductor and Electronics at Allied Market Research, "Accelerometer and gyroscope have become an integral part of all consumer electronic devices. The inception of MEMS technology, reduction in size and power requirement are major factors that drive the demand for these sensors. Furthermore, the rise in investment in defense, automotive, and consumer electronic industries fuels the market growth."
KEY FINDINGS OF THE ACCELEROMETER GYROSCOPE MARKET STUDY:
•In terms of revenue, MEMS accelerometer held the maximum market share, and is expected to maintain its lead throughout the forecast period.
•In 2015, the 3-axis accelerometer & gyroscope dominated the overall market, and is expected to grow at the highest CAGR.
•In 2015, the consumer electronic industry vertical held over 30% of market share, which was the highest among all the industry verticals.
•Asia-Pacific is expected to continue dominating the market in the future. In 2015, the region accounted for about 40% share across all the geographical regions.
In 2015, Asia-Pacific accounted for over two-thirds of the accelerometer & 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.
Summary of the Accelerometer & Gyroscope Market Report can be accessed on the website at: https://www.alliedmarketresearch.com/accelerometer-and-gyroscope-market