The global accelerometer and gyroscope market is projected to grow at a CAGR of 4.30% between 2025 to 2030.
Market Drivers
The major driver operating the accelerometer and gyroscope market is the increasing investment and expenditure of the aerospace and defense sectors of the economy. The growth of the consumer electronics market coupled with the emergence of efficient, economic, and compact MEMS technology; growing adoption of automation in industries and homes; and rising demand from emerging economies is furthering the market ahead during the forecast period. The automotive sector also provides growth opportunities for the market in the years to come.
By geography, Asia-Pacific is the fastest-growing region in the market followed by North America. By end-user, the aerospace and defense segment holds a significant share, while electronics and automotive industries show noteworthy growth prospects.
Growth Factors
Defense and aerospace are two capital-intensive sectors that attract million-dollar investments all around the world. The government budgets also assign substantial expenditure to these sectors. High-performance accelerometers and gyroscopes are integral parts of the navigation and guidance systems used extensively in the defense and aerospace sectors. In the defense and aerospace sectors, the markets in the U.S. and Europe have matured, while many new programs are being launched in Asia, Brazil, and the Middle East. These established and emerging markets are factoring the use of the accelerometer and gyroscope in several modern systems
MEMS sensors have many applications in measuring either linear acceleration along one or several axes or angular motion about one or several axes as an input to control a system. These MEMS-based accelerometers and gyroscopes in consumer electronics are growing faster each year, with increasing demands from the mobile market, which is dominating the growth of this emerging technology. They are a component of highly used devices like gaming consoles, smartphones, and tablets.
The pandemic has raised the importance of digital communication and the usage of electronic devices as people adopted the remote work culture, online education, and more. As such the technology behind these devices saw an uptick in demand, thereby the market for accelerometers and gyroscopes saw a positive impact. The demand from the health sector also surged during this period. But the demand from the aerospace and defense sector contracted. Overall, the market witnessed a mixed response during the pandemic.
Competitive Insights
The market leaders for the Global Accelerometer and Gyroscope Market are Infineon Technologies, TDK-Invensense, NXP Semiconductor, Northrop Grumman Corporation, Analog Devices, Inc., Robert Bosch GmbH, Honeywell International, Inc., ROHM Co Ltd, Murata Manufacturing Co., Ltd., and MTS System Corporation. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance,
Segmentation: