Published Date: 31-May-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Accelerometer & Gyroscope Market size is expected to reach $3.6 billion by 2028, rising at a market growth of 5.1% CAGR during the forecast period.
The Gyroscope segment is showcasing a CAGR of 6.9% during (2022 - 2028). A gyroscope is a gadget that is utilized for angular velocity and navigation monitoring. MEMS gyroscope is a type of gyroscope that uses MEMS technology. The MEMS gyroscope detects changes in orientation using a very small vibrating motor. Gyroscopes can detect rotational velocity throughout one, two, or three axes. The 3-axis gyroscope is implemented using a 3-axis accelerometer. Gyroscopes are utilized in a wide range of applications. It is employed in military operations as a backup in the event that the onboard GPS system malfunctions. It's also found in 3D game controllers, digital cameras, headsets, drones, and automobile systems, among other applications.
The 3-Axis segment acquired maximum revenue share in the Global Accelerometer & Gyroscope Market by Dimension in 2021, thereby, achieving a market value of $1,771 million by 2028. The variables that can be attributed to the increased level of integration, which is encouraging manufacturers to integrate numerous features in one system in order to minimize the number of components according to the number of devices and the overall weight and size of the product, for which 3-axis devices are well suited. Hence, the growth of the segment is being significantly augmented.
The Aerospace & Defense segment has shown growth rate of 5.5% during (2022 - 2028). Defense and aerospace are two high-capital-intensity industries that attract multibillion-dollar investments from all around the world. These sectors are also given a lot of money in government budgets. In the defense and aerospace industries, high-performance and advanced accelerometers and gyroscopes are essential components of navigation and guidance systems. The employment of the accelerometer and gyroscope in numerous prevailing systems is being included in these established as well as new markets.
The Asia Pacific is the fastest growing region in the Global Accelerometer & Gyroscope Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,392.3 million by 2028. The North America market is estimated to witness a CAGR of 4.5% during (2022 - 2028). Additionally, The Europe market would exhibit a CAGR of 4.9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Analog Devices, Inc., STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Honeywell International, Inc., TDK Corporation (InvenSense, Inc.), Murata Manufacturing Co., Ltd., Northrop Grumman Corporation, Robert Bosch GmbH, and Rohm Semiconductors Co., Ltd. (Kionix, Inc.)
By Industry Vertical
Unique Offerings from KBV Research