NEWARK, Del, Feb. 16, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights' latest analysis, the global accelerometer and gyroscope market is forecast to expand at a CAGR of 4.2% between 2023 and 2033. Total market size will increase from US$ 3.1 billion in 2023 to US$ 4.7 billion by the end of 2033.
Based on type, accelerometer segment will generate lucrative revenues throughout the forecast period, with overall accelerometer demand likely to accelerate at 4.1% CAGR during the assessment period (2023 and 2033).
The market for accelerometers and gyroscopes is expected to develop because of an increase in the demand for consumer electronics devices, rising military spending, and an increase in the number of cars on the road.
Accelerometers and gyroscopes are being increasingly used across industries such as automotive, consumer electronics, military & defense, and healthcare for various applications.
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For instance, they find application in automotive safety systems, guided missiles, and smartphones. Hence, expansion of these industries will eventually boost accelerometer and gyroscope sales during the forecast period.
Similarly, increasing production of driverless vehicles and introduction of new advanced products by accelerometer and gyroscope manufacturing companies will boost the market during the projection period.
Another factor that is expected to fuel accelerometer and gyroscope sales during the forecast period is the usage of these devices in biomedical applications.
Key Takeaways from the Report:
- Global sales of accelerometer and gyroscope sales are forecast to surge at 4.2% CAGR between 2023 and 2033.
- By type, accelerometer segment is likely to expand at 4.1% CAGR during the forecast period.
- Based on dimension, 3-axis segment is expected to witness a growth rate of 4.0% through 2033.
- The United States accelerometer and gyroscope market is set to accelerate at 3.1% CAGR between 2023 and 2033, reaching US$ 738.3 million by 2033.
- China’s accelerometer and gyroscope market is projected to expand at 5.6% through 2033.
- Accelerometer and gyroscope demand in Japan is forecast to rise at 4.4% CAGR during the assessment period.
Who is Winning?
Analog Devices INC, InvenSense, Inc., Robert Bosch GmbH, Murata Manufacturing Co., Ltd., STMicroelectronics, KIONIX, Inc., Sensonor AS, NXP Semiconductor, Robert Bosch GmbH, and Honeywell International are few of the leading players operating in the global accelerometer and gyroscope market.
New product launches, research and development, partnerships, mergers, collaborations, acquisitions, and joint ventures are key strategies adopted by leading companies to stay relevant in this marketspace. For instance,
- In October 2021, TDK unveiled the Tronics AXO315, an in-plane linear accelerometer with a 14 g range. With the capacity to withstand harsh vibration and temperature conditions typical in railway, industrial, land, oil & gas, maritime, and construction applications, the new device is targeted to provide increased precision and reliability in difficult situations.
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More Insights into Accelerometer and Gyroscope Market
Future Market Insights, in its new offering, presents an unbiased analysis of the accelerometer and gyroscope market, presenting historical market data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in the accelerometer and gyroscope market based on dimension (1-axis, 2-axis, and 3-axis), type (Accelerometer and Gyroscope), and Industry Vertical (Consumer Electronics, Automotive, Aerospace and Defense, Industrial and Healthcare) across several regions.
Accelerometer and Gyroscope Market Segmentation
By Type:
- Accelerometer
- Gyroscope
By Dimension:
- 1-axis
- 2-axis
- 3-axis
By Industrial Vertical:
- Consumer Electronics
- Automotive
- Aerospace and Defense
- Industrial
- Healthcare
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Table of Content
1. Executive Summary | Accelerometer and Gyroscope Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
TO Continue TOC…
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