According to a new market report published by Credence Research, Inc., “Global Motion Sensors Market (By Technology (Infrared Sensors, Ultrasonic Sensors, Microwave Sensors, Tomographic Sensors and Dual-technology Sensors), By Sensor Type (MEMS accelerometer, MEMS gyroscope, MEMS magnetometer and Sensor Combos), By End-use Vertical (Aerospace & Defense, Automotive, Consumer Electronics, Healthcare and Industrial)) – Growth, Future Prospects and Competitive Landscape, 2018 – 2026”, the global motion sensors market is expected to witness a growth of 12.8% CAGR during the forecast period to reach US$ 15.57 Bn by 2026.
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The global motion sensors market is booming and projected to witness an immense growth in the coming years. The market expected to demonstrate a spectacular growth, expanding at a CAGR of 12.8% during the forecast period from 2018 to 2026. Technological advancements have played a vital role in the development of motion sensors.
Rising adoption of motion sensors in several handheld devices including notebooks, tablets and smartphones is one of the major factor driving the growth prospects of motion sensors market. Increasing penetration of interactive motion gaming industry is another prominent factor facilitating the growth of motion sensors market across the globe.
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With further technological development designed to interact with motion sensing systems, more applications expected to rise while providing lucrative opportunities to the global motion sensors market during the forecast period from 2018 to 2026.
Based on the technology, the global motion sensors market was led by infrared sensors in 2017. Infrared sensors are mainly used in motion and people sensing applications. Depending on medium wavelength infrared (MWIR) and long wavelength infrared (LWIR) sensors and spectrum range, these sensors extensively used in civil and military applications to track and detect targets. Further, based on sensor type, MEMS accelerometer dominated the motion sensors market and garnered the largest revenue in 2017.
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Rising need for developing advanced applications in mobile devices has boosted the demand for MEMS accelerometers. Moreover, based on the end-use vertical, consumer electronics vertical led the market in 2017. The growth of this segment majorly accredited to the widespread use and acceptance of wearable as well as handheld devices. Based on geography, North America held the largest market share for motion sensors market in 2017.
Major players in the motion sensors market include Analog Devices, Inc., Bosch Sensortec GmbH, Honeywell International, Inc., InvenSense, Inc., KIONIX, Inc., MEMSIC, Inc., Microchip Technology, Inc., Murata Manufacturing Co., Ltd., NXP Semiconductors, Safran Colibrys SA, and STMicroelectronics among others. The motion sensors market is fragmented owing to the presence of regional as well as international tech giants. The players are focusing on strengthening their product portfolio with the adoption of several strategies including new product developments, partnerships, mergers and acquisitions, etc. in order to gain competitive edge over other players.
For instance, in January 2018, STMicroelectronics along with USound delivered the first advanced MEMS silicon micro-speakers. The speakers are very small in size and less than half of the weight of conventional speakers. MEMS silicon micro-speakers are bound to enable wearable devices including over-the-ear headphones, earphones, and AR/VR headgears to become more comfortable and compact. The low power consumption of the speakers saves extra size and weight by allowing the use of smaller batteries.
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