Accelerometer and Gyroscope Market Forecasts to 2028 – Global Analysis By Dimension (1 Axis, 2 Axis, 3 Axis), Type (Accelerometer, Gyroscope), Application (High-End Applications, Low-End Applications), and By Geography

Accelerometer and Gyroscope Market Forecasts to 2028 – Global Analysis By Dimension (1 Axis, 2 Axis, 3 Axis), Type (Accelerometer, Gyroscope), Application (High-End Applications, Low-End Applications), and By Geography

According to Stratistics MRC, the Global Accelerometer and Gyroscope Market is accounted for $3.50 billion in 2022 and is expected to reach $4.56 billion by 2028 growing at a CAGR of 4.5% during the forecast period. An accelerometer is a sensor that measures actual speed increase felt by any article, attributable to inertial powers or mechanized excitation. It is an electromechanical gadget that aligns speed increase powers. Ordinarily, an accelerometer prepared in present-day gadgets is tri-hub, which has three devoted units lined up with every course to gauge speeding up along them. Gyroscopes sense rakish development along with one rotational heading. Accelerometer and gyroscope just give data about the development of a gadget, either in straight or rotational heading; nonetheless, they do give any data about the introduction of the gadget. In complex frameworks, for example, satellites, space vehicles, and rockets, the inertial route framework is utilized by the blend of accelerometers and gyroscopes.

The pressure sensors are expected to reach 3.79 billion U.S. dollars in 2021, RF MEMS is also expected to reach 3.81 billion U.S. dollars. The compound annual growth rate (CAGR) from 2016 to 2021 is expected to be 8.9 percent. In the year 2015, accelerometers accounted for 17.2 percent of MEMS sensor market revenues, ahead of pressure sensors at 15.5 percent of the market. The largest market for pressure sensors is the automotive industry where they are used to monitor the pressure of various fluids - such as oil and fuel - and gases in vehicles.

Market Dynamics:

Driver:

Growing demand for wearable electronics

Wearable electronics are expected to deliver valuable services to their owners to help drive a better lifestyle. Wearable smart devices have also received considerable attention from researchers, stimulating increasing research for a variety of applications, such as real-time healthcare monitoring, wearable-assistive robotics or exoskeletons, augmented reality, and entertainment for humans. When used in a wrist PPG heart rate algorithm gyroscope motion estimates obtain better performance in half of the cases. Accelerometers can detect changes in acceleration often up to 1000Hz, giving us 1000 data points every second. Due to the specific demands of much of wearable technology, accelerometers are supported by a number of other devices within the system. Gyroscopes help determine orientation by using the earth’s gravity and without them, the accelerometers would not be able to provide valuable insights to coaches and practitioners.

Restraint:

High cost of investment

Recently, the high-precision laser or fiber optical gyro has been used to measure the angular rate of the carrier. The high cost and large volume drawbacks of a laser or fiber optical gyro are the main reasons that make them unsuitable to small-scale and foundation platforms. They are more expensive per unit Lower operating temperature than a charge accelerometer.

Opportunity:

Increasing defense expenditure

The major growth of the market 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. Gyroscopes and accelerometers employed in missile defense IMU applications encounter severe shock and vibration during storage, transport, launch, staging, deployment, and engagement. In addition, IMUs in flight systems (interceptors, airborne platforms, and space assets) are constrained by limits on size, weight, power and cost (SWaP-C) while requiring high performance. Current state-of-the-art tactical IMUs utilize optical technology (ring laser gyros and fiber optic gyros) which can be sensitive to temperature, shock and vibration. MEMS technology promise to offer smaller, lighter, and less expensive to produce IMUs than optical systems since integrated circuit manufacturing production techniques are utilized in MEMS fabrication.

Threat:

Accuracy issues

The major disadvantage of MEMS gyroscopes is that they are currently far less accurate than optical devices. Their main disadvantage is that they are not currently as accurate as accelerometers manufactured using traditional techniques, although the performance of MEMS devices is improving rapidly. For real-time applications, a high absolute accuracy might be needed, but for a lot of applications stride- and step times might be sufficient. In that last case, an algorithm that shows consistent results with an almost constant o set to the ground truth might be preferable over an algorithm that performs better in terms of mean accuracy but is less consistent.

Covid-19 Impact

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

The 3 axis segment is expected to be the largest during the forecast period

The 3 axis segment is estimated to have a lucrative growth. 3-axis accelerometers and gyroscopes hold the largest share of market and the same trend is expected to continue during forecast period. This is for the reason that of the growing level of integration which is helping manufacturers to integrate several functionalities in one system to reduce the number of components per device and to decrease the size and weight of the global product, for which 3-axis devices are highly suitable.

The low-end applications segment is expected to have the highest CAGR during the forecast period

The low-end applications segment is anticipated to witness the fastest CAGR growth during the forecast period. The electronics sub-segment of the low-end applications segment dominated in global accelerometer & gyroscope market, as they are used in smartphones, laptop, and notebook computers. If a laptop falls off suddenly then, accelerometer placed near hard disk guards it by sensing the fall, and saves read head of hard disks from shattering by turning it off. In mobile phones, these sensors are used to provide features like better image, shock sensing, scrolling feature, gaming control, activation of silent mode, and motion dialing. The rapid rise in sale of consumer electronic equipment globally drives the need for accelerometers & gyroscopes market.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the presence of a few created countries, which have high military spending and furthermore, ascend being used of Internet of Things (IoT). 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.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the expanding number of automobiles. Asia Pacific is 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. Hence the Asia Pacific region is in the leading position in this market.

Key players in the market

Some of the key players profiled in the Accelerometer and Gyroscope Market include Robert Bosch GmbH, Northrop Grumman LITEF GmbH, Murata Manufacturing Co Ltd, KVH Industries Inc, Analog Devices Inc, Colibrys Ltd, Fizoptika Corp, Honeywell International Inc, Innalabs Holding Inc, Invensense Inc, Kionix Inc, Systron Donner Inertial, Sensonor AS, STMicroelectronics N.V, and NXP Semiconductors N.V.

Key Developments:

In July 2020, Northrop Grumman is playing an important role in a historic phase of Mars exploration. Northrop Grumman’s LN-200S inertial measurement unit (IMU) will provide extended life inertial navigation for NASA Jet Propulsion Laboratory’s (JPL) Perseverance Mars Rover, a mission that will seek signs of ancient life on the Red Planet.

In January 2021, Honeywell, with funding from the U.S. Defense Advanced Research Projects Agency (DARPA), is creating the next generation of inertial sensor technology that will one day be used in both commercial and defense navigation applications. Recently, findings gathered in Honeywell labs have shown the new sensors to be greater than an order of magnitude more accurate than Honeywell's HG1930 inertial measurement unit (IMU) product, a tactical-grade product with more than 150,000 units currently in use.

Dimensions Covered:
• 1 Axis
• 2 Axis
• 3 Axis

Types Covered:
• Accelerometer
• Gyroscope

Applications Covered:
• High-End Applications
• Low-End Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements