The Digital Compass Market is expected to grow from US$1,208.202 million in 2025 to US$1,657.752 million in 2030, at a CAGR of 6.53%.
A digital compass is commonly known as an e-compass which is a device that is utilized to gain an accurate determination of the directions through tracking the earth’s magnetic field. The e-compass is developed using multiple components such as a magnetometer, accelerometer, and gyroscope. All of these components are combined with the gravity of the device.
The high demand for digital compass among military, aerospace, and defense boost the market growth due to their precise determination of the North Pole through the use of integrated microcontrollers within the e-compass. The rising demand for better access to technologies and a simpler user interface has resulted in the development of digital compasses. It is further used in navigation and has resulted in becoming a standard requirement for gaming devices, smartphones, and tablets which in turn are expected to substantially increase the digital compass market growth.
The increased use of digital compass accounts for a few features such as the promotion of simple user interface demand among end users which is regarded to be a market driver for the digital compass market.
The improvements in technology with advanced solutions and improved access are also beneficial for the digital compass market. Additionally, there is a wide application in terms of geo-mapping and even navigation, especially in aerospace, automotive, and defence industries which are boosting the demand for the compass as high-grade one and two-axis sensors. Moreover, the incoming deployment of new standards such as LTE and LTE-A is envisioned to open up new opportunities for location-based tracking services which use an increased number of sensors driving the market growth.
Various product innovations in the digital compass market are also driving the growth of this market. For instance, in July 2021, a NASA-backed team is working on a project name Magnetometers for Innovation and Capability for space science and space weather at the University of Lowa. The project aims to rediscover and improve the lost techniques for the development of high-fidelity instruments that use fluxgate magnetometers for the measurements of the magnetic field.
Asia Pacific is expected to show significant growth in the market of the digital compass as a result of the increasing demand for smartphones in the region. China and India have been witnessing huge demand potential as well as lower labour costs which will result in these two countries emerging as worldwide hubs for digital compass manufacturing industries.
On the other hand, the U.S. is expected to presume a predominant position with the involvement of innovative technologies which are offering advanced hardware and software and a high awareness pertaining to location-based services among consumers.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Digital Compass Market Size in 2025 | US$1,208.202 million |
| Digital Compass Market Size in 2030 | US$1,657.752 million |
| Growth Rate | CAGR of 6.53% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Million |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Digital Compass Market | |
| Customization Scope | Free report customization with purchase |
The digital compass market is analyzed into the following segments: