The motion sensor market is projected to grow at a CAGR of 7.78% to reach a market size of US$6,643.739 million in 2024 from US$4,238.220 million in 2018. Motion sensors are one of the primary sensing techniques which are used across industry verticals including consumer electronics, healthcare, automotive, and industrial among many others. Increasing expenditure on research and development for the launch of new models will drive demand for these sensors. In addition, the rapid adoption of motion technology by the gaming industry will further boost the demand for these sensors. North America and Europe held a significant market share on account of the presence of major market players and the rapid adoption of new technology. The Asia Pacific region will witness substantial growth in the coming years owing to the favorable government policies promoting the manufacturing industry and rising demand for motion detectors for security and surveillance applications.
This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the motion sensor value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the motion sensor market.
Major industry players profiled as part of the report are Honeywell International Inc., Microchip Technology Inc., NXP Semiconductors, and TDK Corporation among others.
The motion sensor market has been analyzed through the following segments: