Accelerometer and Gyroscope Market

The global accelerometer and gyroscope market size was valued at $2.61 billion in 2020, and is projected to reach $4.03 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030.

An accelerometer is a sensor that detects linear movement of any device in one particular direction, and measures the overall acceleration of a device, which includes the static acceleration from gravity when object is not in motion. On the other hand, a gyroscope is a sensor that identifies angular movement of a device around each axis. Accelerometers & gyroscopes are suitable in applications such as navigation, automotive, and consumer electronics. These sensors are widely used in airbags to activate them in case of a crash, in gaming consoles for enabling better motion control, in several phones for recognizing tap gesture, and in automatically changing the orientation of the screen in electronic devices when they are rotated.

The accelerometer and gyroscope market is significantly affected by the emergence of COVID-19, owing to the shutdown of manufacturing units globally. However, the market is expected to register significant growth in the coming years due to surge in adoption of consumer devices across the globe.

Growth of the global accelerometer and gyroscope industry is anticipated to be driven by factors such as continuously growing defense expenditure across globe and rising demand from the consumer electronics industry. Moreover, development of autonomous vehicle sector fuels the accelerometer and gyroscope market growth. However, low accuracy of accelerometer and gyroscope sensors acts as a major restraint of the global market. On the contrary, increase in adoption of automation in industries & homes and high demand from Asia-Pacific are expected to create lucrative opportunities for the expansion of the global accelerometer and gyroscope industry.

The global accelerometer and gyroscope industry is segmented into type, dimension, industry vertical, and region. By type, the market is bifurcated into accelerometer and gyroscope. On the basis of dimension, it is segregated into 1-axis, 2-axis, and 3-axis. Depending on industry vertical, it is categorized into consumer electronics, automotive, aerospace & defense, industrial, healthcare, and others.  

Region wise, the accelerometer and gyroscope market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, Taiwan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific dominated the accelerometer and gyroscope market in 2020, and is projected to register significant growth rate during the forecast period, owing to growth in the automotive segment. Also, Asia-Pacific is expected to witnesses significant growth by the end of the forecast period, followed by LAMEA. 

Leading accelerometer and gyroscope market manufacturers such as Analog Devices Inc., Honeywell International Inc., and STMicroelectronics are focusing on their investments on technologically advanced, cost-effective, and more secure products and solutions for various applications.

TOP IMPACTING FACTORS

The prominent factors that impact the accelerometer and gyroscope market growth include surge in demand of consumer electronic devices, high military spending, and rise in number of vehicles globally. However, low accuracy of accelerometer and gyroscope products restricts the accelerometer and gyroscope market growth. On the contrary, increase in production of autonomous vehicles is expected to create lucrative opportunities for the market.

COMPETITION ANALYSIS

Competitive analysis and profiles of the major players such as Analog Devices Inc., Honeywell International Inc., InvenSense, Northrop Grumman, NXP Semiconductors, Robert Bosch, Infineon Technologies AG, STMicroelectronics, Kionix Inc., and Murata Manufacturing Co. Ltd. have been covered in the report.

COVID-19 IMPACT ANALYSIS

The outbreak of COVID-19 has significantly affected the electronics & semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are expected to remain closed in first quarter of 2022. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers.

The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing significantly and is affecting the business globally. Furthermore, the crisis is creating uncertainty in the stock market, and is resulting in falling business confidence, massive slowing of supply chain, and increasing panic among customers.

Asian and European countries under lockdowns have suffered major loss of business and revenue, owing to shutdown of manufacturing units. Operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted growth of the accelerometer and gyroscope market outlook.

In addition, the COVID-19 pandemic has impacted the electronics sector as production facilities have stalled, which, in turn, boosts the demand for electronics and semiconductor products in these industries. Its major impact includes a large manufacturing interruption across Europe and interruption in Chinese parts exports, which hinder the Accelerometer and Gyroscope Market Opportunity. It is expected that the demand for new and innovative products could surge once the economy begins to recover. Companies are looking forward to invest in next-generation products using new technologies, once customer demand surges.

Key Benefits For Stakeholders

• This study comprises analytical depiction of the global accelerometer and gyroscope market size along with current trends and future estimations to depict imminent investment pockets.
• The overall accelerometer and gyroscope market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current accelerometer and gyroscope market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and the accelerometer and gyroscope market share of key vendors.
• The report includes the market trends and the market share of key vendors.

 Accelerometer and Gyroscope Market Report Highlights