According to a new research report published by Transparency Market Research the global accelerometer market is projected to reach value of US$ 2,489.6 Mn by 2026, expanding at a CAGR of 4.6% from 2018 to 2026. The global market is expected to be influenced by a range of macroeconomic and market-specific factors during the forecast period. Demand for accelerometers is likely to be significant in Asia Pacific from 2018 to 2026.The market in the region is anticipated to expand at a CAGR of 4.9% during the forecast period.
Rising demand for MEMS accelerometers in the consumer electronics sector drives the market
Accelerometers are being incorporated into a number of personal electronic devices such as smartphones, wearable devices, gaming consoles, and media players. Accelerometers are used in laptops so that if the laptop accidently falls, the accelerometer can sense its fall and turn off the internal system in order to protect it from disastrous damage. Rise in the demand for wearable electronics, high use of Internet of Things (IoT), and increase in the demand for unmanned vehicles create new opportunities for the global accelerometer market. Furthermore, the rising demand for MEMS accelerometers is expected to propel the accelerometer market during the forecast period.
Global Accelerometer Market: Scope of Report
The global accelerometer market has been segmented based on type, axis, end-use industry, and region. In terms of type, the global market has been classified into AC response (piezoelectric) and DC response. The DC response segment has been sub-segmented into capacitive and piezoresistive. Capacitive is the most common technology used for accelerometers currently. Capacitive DC-response accelerometers are highly suitable for use in on-board monitoring applications, wherein cost is the driving factor. They are suitable for measurement of low-frequency motion, wherein the g level is also low such as vibration measurements in civil engineering. In terms of axis, the global accelerometer market has been segmented into 1-axis, 2-axis, and 3-axis. The 3-axis accelerometer are designed with three separate internal accelerometers mounted orthogonally, that allows to analyze separate components of complex accelerations. 3-axissegment is expected to hold the largest share of the global accelerometer market by the end of 2018, owing to the growing level of integration which is prompting manufacturers to integrate several functionalities in one system to reduce the size and weight of the overall product. Based on end-user industry, the global accelerometer market has been categorized into consumer electronics, automotive, health care, industrial, aerospace & defense, and others. Consumer electronics and automotive are the leading end-user industry segments, followed by health care, industrial, and others segments. Among all these, the automotive segment is expected to witness high investments during the forecast period.
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The Asia Pacific accelerometer market is expected to expand at a significant CAGR during the forecast period, owing to presence of numerous manufacturers in China and low cost of raw materials in the region. Asia Pacific is emerging as a manufacturing hub for low-end applications such as automotive and consumer electronics and hence, the region is likely to dominate the global accelerometer market between 2018 and 2026. India is projected to lead the accelerometer market in Asia Pacific during the forecast period. This is primarily due to changing safety guidelines for infrastructure and automotive sectors in the country. India is a highly attractive market for investments at present. Countries such as China, Japan, and Australia are also expected to hold significant shares of the market for accelerometers in Asia Pacific during the forecast period. The accelerometer market in India is likely to expand at a CAGR of 6.1% from 2018 to 2026.
Global Accelerometer Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global accelerometer market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Key players operating in the global accelerometer market are Dytran Instruments Incorporated, Honeywell International, Inc., TE Connectivity, Kionix, Inc., Silicon Designs, Murata Manufacturing Co. Ltd., CTS Corporation, NXP Semiconductor, STMicroelectronics NV, Meggitt PLC, Safran SA, Northrop Grumman Corporation, Robert Bosch, Innalabs, and MTS System Corporation. Companies are focusing on expanding their business through strategic acquisitions and partnerships with several end-use industries.