Global Non-Optical Inertial Sensor Market Size, Share, Opportunities, COVID-19 Impact, And Trends By End-User (Automotive, Consumer Electronics, Chemical, Defense, Industrial, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Apr 2022
- Report Code : KSI061612501
- Pages : 102
The global non-optical inertial sensor market was valued at US$5.092 billion in 2020 and is projected to expand at a CAGR of 8.68% over the forecast period to reach US$9.118 billion by 2027.
Non-optical sensors help in measuring the mechanical stress on objects without using light as a medium. The non-optical inertial sensor has a wide range of applications in various industries such as automotive, consumer electronics, manufacturing, and communication. The demand for non-optical sensors will witness a fast rise owing to their rising adoption in automation and in the manufacturing of electronic devices. The demand for these devices will increase in the future due to the rising penetration of electronics and industrial automation around the world. Furthermore, the growing semiconductor industry is anticipated to have a high demand for non-optical inertial sensors, which is expected to drive the growth of the overall market. The growing use of pressure sensors in industrial and household applications is driving the growth of the overall market. For instance, L-com, a brand manufacturer of electronics and wireless products, announced the launch of level and pressure sensors that are developed for IoT-related applications and operations. These sensors provide benefits to the industry as they provide high accuracy and can operate in harsh environments.
- Growing demand for distributed temperature and pressure sensors
One of the primary reasons driving the market's growth is the continuously increasing demand from industries like automotive, consumer electronics, communication, and others. Temperature sensors give high accuracy while measuring temperatures over long distances and they provide several benefits. One of them is cost-effectiveness. The other two are immunity to shocks and vibrations, and they are also helpful in minimizing any uncertainty during the process. Furthermore, due to their miniature size, they can be easily fixed into pipes/ducts, and thus their wide range of applications is boosting the market growth of non-optical inertial sensors. The demand for automotive electronics will continue to rise due to the high demand for software-defined, cloud-connected electric vehicles, owing to which the demand for non-optical inertial sensors in the automotive sector is expected to increase during the forecasted period. High demand for consumer electronics- converged devices such as Smart TVs, smartphones, and digital setup boxes will be a major growth driver for non-optical inertial sensors. Increased demand for smartphones, with the on-going trend of remote working and online classes, the demand for laptops, and smartphones will continue to rise, which is projected to increase the demand for the non-optical inertial sensors. Asia-Pacific accounted for the largest market share in the non-optical inertial sensor market, because of its large consumer base with rapidly growing industries in developing countries like China, India, and others. North America accounted for the second-largest market and is projected to continue its growth during the forecast period. Moreover, the rising demand for sensors owing to their increasing use in industrial applications such as medical breathing applications, water purifiers, for monitoring the pressure of a vehicle’s critical fluids, and alarm systems, is expected to further drive the overall market growth.
Steve Wozniak and Alex Fielding’s start-up, Privateer, aims to be the Google Maps of space, for which they are planning to send their first satellite, dubbed “Pono 1,” on February 11, 2022, into space. The spacecraft will be equipped with 42 sensors, 30 of which are non-optical and 12 of which are optical cameras. KVH Industries, Inc announced the launch of the P-1775 inertial measurement unit (IMU) featuring KVH’s new PIC Inside™ photonic integrated chip (PIC) technology
The Impact of COVID-19 on the Non-Optical Inertial Sensor Market
The COVID-19 pandemic, however, is expected to act as a restraint to this market growth because of the pandemic, several countries around the world went into lockdown, which completely disrupted its demand. Also, work stoppages, labor shortages, and preventive quarantines to curb the spread of the virus are expected to have a negative impact on the market.
The increasing demand for non-optical inertial sensors has led to the entry of several new players into the global non-optical inertial sensor market. To increase their clientele as well as increase their market share in the upcoming years, many of these market players have taken various strategic actions like partnerships and the development of novel solutions, which are expected to keep the market competitive and constantly evolving. Major market players like Analog devices, Inc., and OMRON corporation, among others, have been covered along with their relative competitive strategies. The report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered, along with the recent deals and investments of these important players in the global non-optical inertial sensor market.
Global Non-Optical Inertial Sensor Market Scope:
|Market size value in 2020||US$5.092 billion|
|Market size value in 2027||US$9.118 billion|
|Growth Rate||CAGR of 8.68% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Honeywell, Northrop Grumman, SAFRAN, Thales, Kearfott, KVH Industries, UTC, Systron Donner Inertial, IAI Tamam, Elop, L-3 Communications|
|Customization scope||Free report customization with purchase|
- BY End-User
- Consumer Electronics
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What will be the non-optical inertial sensor market size by 2027?
A1. The global non-optical inertial sensor market is projected to reach a total market size of US$9.118 billion by 2027.
Q2. What is the size of the global non-optical inertial sensor market?
A2. Non-Optical Inertial Sensor Market was valued at US$5.092 billion in 2020.
Q3. What are the growth prospects for the non-optical inertial sensor market?
A3. The non-optical inertial sensor market is projected to expand at a CAGR of 8.68% during the forecast period.
Q4. Which region holds the largest market share in the non-optical inertial sensor market?
A4. Asia-Pacific accounted for the largest share in the non-optical inertial sensor market due to its large consumer base with rapidly growing industries in developing countries like China, India, and others.
Q5. What factors are anticipated to drive the non-optical inertial sensor market growth?
A5. One of the primary reasons driving the non-optical inertial sensor market growth is the continuously increasing demand from the industries like automotive, consumer electronics, communication, and others.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Function
4.4. Function Value Chain Analysis
5. GLOBAL NON-OPTICAL INERTIAL SENSOR MARKET BY END-USER
5.2. Consumer Electronics
6. GLOBAL NON-OPTICAL INERTIAL SENSOR MARKET BY GEOGRAPHY
6.1. North America
6.2. South America
6.3.1. United Kingdom
6.4. Middle East and Africa
6.4.1. Saudi Arabia
6.5. Asia Pacific
6.5.4. South Korea
7. COMPETITIVE INTELLIGENCE
7.1. Market Positioning Matrix and Ranking
7.2. Recent Investments and Deals
7.3. Strategies of Key Players
8. COMPANY PROFILES
8.2. Northrop Grumman
8.6. KVH Industries
8.8. Systron Donner Inertial
8.9. IAI Tamam
8.11. L-3 Communications
Systron Donner Inertial
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