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Rising industry demand boosts motion sensors market

Posted: 13 Aug 2015 ?? ?Print Version ?Bookmark and Share

Keywords:MarketsandMarkets? motion sensor? MEMS? consumer electronics? automotive?

According to the latest report from MarketsandMarkets, the global motion sensors market is on an uphill climb as a result of the rising number of applications across various industry verticals. The market was valued at $3.10 billion in 2014 and is expected to reach $6.45 billion by 2020, at a CAGR of 12.93 per cent from 2015 to 2020.

Technological developments in the past decade have led to a considerable reduction in size of motion sensors, which played a major role in the growth of the market. The reduction in size and the penetration of MEMS technology into the motion sensor industry has enabled its applications in the field of consumer electronics, automotive, aerospace & defence, healthcare and many more. In industries such as mobile devices, automotive and healthcare, where there is a growing necessity for smaller form factor for sensors with improved performance, MEMS-based sensors have proven to be the perfect solution.

Another major factor driving the motion sensors market is the increased demand of accelerometers (a type of sensor) in the consumer electronics segment. Motion sensors have been an essential component in consumer goods for years, but new improvements and advancements have made them cost efficient and energy-efficient as well. Sensors such as accelerometers, gyroscopes, and magnetometers are used in smartphones, tablets, and notebook computers. Sensors also play a big role in remote-controlled planes and advanced aerial drones.

With the growing adoption of motion sensors in various sectors, the global motion sensors market is expected to witness high growth in the near future. The market size of smartphones & tablets was the highest and was valued at $981.33 million in 2014 and is expected grow at a CAGR of 14.03 per cent from 2015 to 2020.

The Asia-Pacific region is the fastest-growing market for consumer electronics application and is expected to register a CAGR of 15.14 per cent during the forecast period. The motion sensors market in Europe and North America is also expected to register substantial growth rate.

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