Motion Sensor Market – Increases the Standard Of Living

Motion Sensor Market – Increases the Standard Of Living

By Knowledge Sourcing Intelligence Blog

Motion sensor is an electronic device that is used to detect nearby motion with help of sensing technology which is connected to the automated system. It is also used to alert or perform the task depending on the application for which it is used. The emerging trend of smart homes and the number of household applications such as home control and automated lighting control among other applications is further augmenting the market demand. The market of the motion sensors is expected to witness promising growth during the forecasted growth due to the burgeoning investment in the automation solution across various industrial verticals.

motion sensor market

The market is witnessing significant growth due to the surge in the demand for the wearable device and smartphones, especially in the developing regions. The high demand is encouraging the market players of the motion sensor to invest and focus on the research and development to offer new and enhanced sensor technologies. For instance, TDK corporation introduced InvenSense SmartBug in August 2020 that is integrated with TDK’s six axes IMU with ultrasonic sensors and high-precision algorithms. It can be adopted by the consumer and commercial IoT applications.

The motion sensors are ideally suitable for various industrial and scientific applications such as medical research, automotive, and robotics. For instance, Bosch Limited had recently launched a BMA456 accelerometer that includes optimized hearable features which is integrated with one sensor. The sensor can also be used to reduce the power consumption and to increase the overall battery life.

Some of the players of the motion sensor market Honeywell International Inc., Microchip Technology Inc., Robert Bosch GmbH, STMicroelectronics, Texas Instruments Incorporated, Analog Devices, Inc., NXP Semiconductors N.V., TDK Corporation, TE Connectivity, and Sensta Technologies, Inc. The global motion sensor market is expected to grow at a compound annual growth rate of 7.42% over the forecast period to reach a market size of US$7.733 billion in 2026 from US$5.034 billion in 2020.

Automobile Segment

The demand for the motion sensors is increasing rapidly in the automobile sector because of its extensive usage in the Micro-Electro-Mechanical Systems (MEMS) and the Advanced Driver Assistance Systems (ADAS). The extensive usage of the MEMS technology is resulting in the miniaturization of the motion sensors and can be attributed to the requirement for the detection and prediction of the natural calamities including volcanic eruptions and earthquakes. For instance, State of California has installed an earthquake early warning system that use motion sensors for the detection of earthquakes. Various applications of the motion sensors in the detection of the noise, harshness and vibration indicators are increasing the market demand for the motion sensors. MEMS-based motion sensors are also being used in the airbags of various automobile vehicles. For instance, Bosch have already introduced MEMS-based motion sensors to detect any abrupt vehicle deceleration. Thus, the rising awareness for the safety and security in the automobiles is primarily driving the market of the motion sensors. According to World Health Organization (WHO), approximately more than 1.35 million people die in road accidents every year globally and about 50 million people approximately get injured.

Asia Pacific To Grow At Fastest CAGR

Asia Pacific region is projected to grow at the fastest CAGR during the forecasted period. This is majorly attributed to the rapid industrialization, urbanization and high demand for motion sensors from China, South Korea, India, Japan, and Indonesia. The emergence of the Electronic Vehicles (EV) & 5G and rise in the manufacturing of the electronic devices and equipment such as tablets, smartphones, lighting system, electronic medical devices, automation equipment, and gaming consoles is augmenting the motion sensor market. For instance, according to the Ministry of Industry and Information Technology China, the number of mobile phone subscriptions per 100 inhabitants in China has increased in comparison to 2018 by 1.96% in 2019. The countries such as Japan and China are regarded as the manufacturing and assembling hubs for the manufactures of the consumer electronics such as Sony Corporation and Samsung. Many big enterprises such as Xiaomi and Samsung are investing in the market for the sensor technology advancement owing to its adoption of various wearable fitness and health tracking device among various consumers. Xiaomi Corporation launched new motion-activated night light for sale in India in September 2019.

COVID-19 Negative Impact

The outbreak of the Covid-19 pandemic and its subsequent lockdown across the world have impacted every industry majorly due to the disrupted distribution channel. The motion sensor market is expected to be moderately impacted by the pandemic which can be attributed to the halted manufacturing process across the world, unavailability of the raw materials, and disrupted channel of disruptions. Further, the low capital investment and strict regulations mandated by the government have slowed down the market growth of the market. Nevertheless, the rise in the requirement for various consumer electronic devices and medical equipment especially for house security is expected to offset the impact of the pandemic and lead to a gradual increase in the market growth of the motion sensor market. The surging automation and robotics market is further expected to propel the market growth during the forecasted period.