NEW YORK, Dec. 18, 2016 /PRNewswire/ -- "The high-end accelerometer and gyroscope market growth is directly linked with the increasing defense expenditure globally"
The accelerometer and gyroscope market is expected to reach USD 3.50 billion by 2022. The high-end accelerometer and gyroscope market is expected to grow at a CAGR of 3.8% between 2016 and 2022, to reach USD 2.07 billion by 2022 from USD 1.59 billion in 2015. This growth can be attributed to the increasing defense expenditure globally owing to the growing demand for equipment optimized with several intelligent sensors for navigation, satellite antenna positioning, and other applications.
"MEMS accelerometers and gyroscopes are expected to be the fastest-growing types for the high-end application market during the forecast period"
The MEMS accelerometer and gyroscope market for the high-end applications is expected to grow at the highest rate between 2016 and 2022. This is mainly owing to the growing deployment of these sensors in remotely operated vehicles, aerospace, and industrial and defense sectors. Because of their benefits of low cost, small size, and high power efficiency, MEMS accelerometers are increasingly replacing traditional accelerometers in these applications.
"APAC would be the largest shareholder of the accelerometer and gyroscope market during the forecast period"
The overall accelerometer and gyroscope market in the APAC region accounted for the largest share of around 36.0% of the global market in 2015. Given the emergence of APAC as the manufacturing hub for low-end application industries such as automotive and consumer electronics, which are the major contributors to the accelerometer and gyroscope market, the APAC region is in the leading position in this market. The Americas is the second-largest region for the accelerometer and gyroscope market. The growing industrial and home automation, the adoption of emerging applications such as augmented and virtual reality and IoT, and the huge defense expenditure by the U.S. government act as the drivers for this market.
The breakup of primaries conducted during the study is depicted in below.
By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
By Designation: C-level Executives – 50%, Directors – 25%, and Managers – 25%
By Region: Americas – 60%, Europe – 20%, APAC – 10%, and RoW – 10%
Some of the major players in the accelerometer and gyroscope market include 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.
Factors such as the growing demand for wearable electronics, commercialization of IoT, introduction of advanced consumer applications such as augmented and virtual reality, rising demand for unmanned and remotely operated autonomous vehicles, and the increase in fleet size in commercial aviation are expected to generate opportunities for this market in the near future.
This report includes the market statistics pertaining to type, dimension, application, and geography, along with their respective market size.- The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the accelerometer and gyroscope market.- Major drivers, restraints, and opportunities for the accelerometer and gyroscope market have been detailed in this report.- The opportunities in the market have been defined for stakeholders, along with the details of the competitive landscape for the market leaders. - Strategic profiling of the key players of the accelerometer and gyroscope market has been provided and their market ranks and core competencies have been comprehensively analyzed.- Illustrative segmentation, analysis, and forecast for the markets on the basis types, dimension, application, and geography have been conducted to give an overall view of the accelerometer and gyroscope market.Read the full report:
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