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(Wireless-NewsWire.Com, March 17, 2018 ) The huge demand from the consumer electronics industry; stringent government regulations for the automotive industry; the emergence of efficient, economic, and compact MEMS technology; growing adoption of automation in industries and homes; and rising demand from emerging economies are the driving factors which will be making the overall accelerometer and gyroscope market to be worth USD 3.50 Billion by 2022. The increase in the defense expenditure globally is also making the high-end accelerometer and gyroscope to grow at an expected CAGR of 3.8% between 2016 and 2022. The market for high-end accelerometer and gyroscope is expected to reach USD 2.07 Billion from USD 1.59 Billion in 2015.
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The accelerometer and gyroscope market has been segmented into different types of accelerometers and gyroscopes. The types of accelerometers include MEMS accelerometers, piezoelectric accelerometers, piezoresistive accelerometers, and others. The types of gyroscopes include MEMS gyroscopes, ring laser gyroscopes, fiber-optic gyroscopes, hemispherical resonator gyroscopes, dynamically tuned gyroscopes, and others. Among all the major types, MEMS accelerometers and gyroscopes are expected to hold the largest share in terms of value in 2016.
The market has also been segmented on the basis of axial dimensions into 1 axis, 2 axis, and 3 axis. Of all the mentioned dimensions, 3-axis accelerometer and gyroscope market held the largest share in 2015 and trend is expected to remain the same by 2022. This can be attributed to the growing level of integration, which is driving manufacturers to integrate several functionalities in one system to reduce the number of components per device and to reduce the size and weight of the overall product, for which 3-axis devices are highly suitable. The 1-axis accelerometer and gyroscope market held the second largest share in 2015 and is expected to be succeeded by 2-axis accelerometer and gyroscope by 2022.
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The accelerometer and gyroscope market has been segmented on the basis of application into low-end applications and high-end applications. Low-end applications include transportation, electronics, and others including augmented and virtual reality, home automation, IoT, and structural health monitoring, among others. The high-end applications include defense, aerospace, remotely operated vehicle, industrial, and medical. High-end applications are the fastest-growing applications of the accelerometer and gyroscopes. Among all the major high-end applications, the remotely operated vehicles segment is expected to grow at the highest CAGR owing to the huge demand for remotely operated vehicles from the defense as well as commercial sectors.
The accelerometer and gyroscope market has also been broadly classified on the basis of geography into the Americas, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The Asia-Pacific region accounted for the largest market size followed by Americas with second largest market size of the accelerometer and gyroscope market in 2015. APAC is emerging as the manufacturing hub for low-end applications such as automotive and consumer electronics. Hence, the accelerometer and gyroscope market holds a comparatively large share in the APAC region and is expected to follow the same trend during the forecast period.
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The accelerometer and gyroscope market, the low return on investment and the growing level of integration are the challenges for this market. Furthermore, the highly complex manufacturing process and demanding cycle time as well as the capital-intensive applications inhibit the growth of this market. However, factors such as the growing demand for wearable electronics, commercialization of IoT, introduction of advanced consumer applications, rising demand for unmanned vehicles, and increase in fleet size in commercialization aviation can generate significant opportunities for this market in the near future.
The key players in the accelerometer and gyroscope market are Analog Devices Inc. (U.S.), Colibrys Ltd. (Switzerland), Fizoptika Corp. (Russia), Honeywell International, Inc. (U.S.), InnaLabs (Ireland), InvenSense, Inc. (U.S.), Kionix, Inc. (U.S.), KVH Industries, Inc. (U.S.), Murata Manufacturing Co., Ltd. (Japan), Northrop Grumman LITEF GmbH (Germany), NXP Semiconductors N.V. (Netherlands), Robert Bosch GmbH (Germany), Sensonsor AS (Norway), STMicroelectronics N.V. (Switzerland), and Systron Donner Inertial (U.S.), among others.
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