The global 3D magnetic sensor market to grow at a CAGR of 21.41% during the period 2017-2021.
The report, Global 3D Magnetic Sensor Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the emergence of wearable technologies. There has been an increase in the adoption of wearable devices in order to enhance the quality of life worldwide. Wearable technologies are basically a mobile form of communication technology, which is attached to a body part and is used for monitoring and tracking daily activities apart from providing communication services. It includes smart watches; smart glasses such as Google Glass; smart fabrics; heart rate monitors; and fitness tracking gadgets such as Fitbit Surge.
Gyroscopes are the most popular type of wearable motion sensors. Gyroscopes act as a source of information for activity recognition in wearables, but angular velocity information derived from 3D magnetic sensors can approximate and replace gyroscope signals. With higher and better accuracy and cost-effective and less space consuming, 3D magnetic sensors will be a better alternative than a gyroscope.
According to the report, one of the major drivers for this market is the growing efficiency and sales in automobile segment. The modern-day cars require numerous sensors in order to perform various applications, and the adoption of these sensors is expected to rise even more in the coming years. The major reason for this is increased demand from consumers for features that improve safety, handling, stability, performance, comfort, convenience, and other attributes of a vehicle. In vehicles, magnetic sensors are adopted in the body and powertrain segments.