Artificial Intelligence driven Marketing Communications
The motion sensor market is estimated to grow from USD 5.7 billion in 2019 to USD 9.3 billion by 2025, at a CAGR of 8.3%as per a report by MarketsandMarkets.
How growing demand for wearable electronics to increase opportunities in this market?
The product portfolio for wearable electronics is diverse, consisting of smart watches, wristbands, smart shoes, smart shirts/jackets, headbands/smartcaps, and many others that can be worn on different body parts, such as head, neck, torso, hand, and leg. These devices are rapidly gaining traction; of which, smart watch accounts for larger market share. Similarly, the demand for wearable wristbands has also seen to be increasing in recent years, mostly in the Americas and APAC.
Motion sensors are incorporated in a majority of these wearable devices for providing enhanced features, along with tracking daily activities. Wearable technology encompasses companies from a host of verticals including consumer electronics companies, such as Apple (US) and Samsung Electronics (South Korea), as well as fitness and sports companies, such as Nike (US) and Adidas (Germany), which are the emerging end users for these sensors. Hence, the increasing demand for wearable electronics opens up numerous opportunities for the motion sensor market.
Why growing level of integration to pose major challenge?
As the current generation is moving toward more compact and portable devices, the major concern faced by accelerometer and gyroscope manufacturers is meeting the changing needs of consumers. To cater to the demand for compact, portable, and multifunctional devices, components and systems need to be downsized to reduce the size of a component. To reduce the overall size of the system, system integrators prefer using of combo sensors over standalone motion sensors. These combo sensors combine the functionality of multiple motion sensors in a single unit, thus offering a compact solution and cost-effective solution for integrators. The adoption of combo sensors leads to changes in the design of components and systems, resulting in the reduction of size and dimensions of the overall system.
Download PDF Brochure:
The downsizing of components to reduce the size of the system is an essential factor for remaining competitive in the market as the market is especially driven by new products and technology developments. Therefore, the obsolescence of standalone motion sensors to meet changing needs is not only a major concern but also a big challenge for the motion sensor market.
Growing adoption of automation in industries and home
Recently, a wide range of equipment has been introduced and adopted for the advancement of automation in industrial and home purposes. Industrial automation technology has brought about a paradigm shift across industries as it enhances the control, operation, and management of manufacturing operations. On the other hand, the demand for energy-efficient solutions has enhanced security. Further, the demand for improving the standard of living has led to the development of home automation. In industries and homes, technologies that interface well with field devices and humans, while generating quick and accurate response would witness wider adaptability.
Please Explore Relevant Reports:
Position Sensor Market by Type (Linear Sensor and Rotary Sensor), Application (Machine Tools, Robotics, Motion Systems, Material Handling, Test Equipment), Contact Type, Output, End-User Industry, and Geography – Global Forecast to 2024
Accelerometer and Gyroscope Market by Accelerometer Type (MEMS, Piezoelectric, and Piezoresistive), Gyroscope Type (MEMS, FOG, RLG, HRG, and DTG), Dimension (1, 2, and 3 Axis), Application (Low End and High End), and Geography – Global Forecast to 2022
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.