Growing adoption of automation; rising demand from emerging economies; and increasing defense expenditure are among major driving factors for motion sensor market
The motion sensor market is expected to reach USD 9.3 billion by 2025 from USD 5.7 billion in 2019, at a CAGR of 8.3%. This growth can be attributed to the growing trend of automation, increasing demand for motion sensors from emerging economies, and surging expenditure in defense. Factors restraining the growth of the motion sensor market are time-consuming manufacturing processes and high cost of motion sensors.
Other applications to grow at highest CAGR during forecast period in motion sensor market
Based on the application, the market for other applications is expected to grow at the highest CAGR during the forecast period. This is because of increasing demand from oil & gas and safety & security applications due to rapidly falling prices of motion sensors. Also, the other application segment is witnessing huge technological advancement, which has, in turn, created demand for motion sensors.
Europe to be largest shareholder, whereas RoW to register highest CAGR during forecast period
The motion sensor market in Europe is expected to account for the largest share of the overall motion sensor market during the forecast period. Europe is emerging as the manufacturing hub for applications such as automotive and consumer electronics, which are also the major contributors to the growth of the motion sensor market. Therefore, Europe holds the leading position in this market. The Americas is expected to hold the second-largest share of motion sensor market during the forecast period. Growing industrial and home automation; emerging applications, such as augmented and virtual reality and IoT; and huge defense expenditure by the US government are the major factors driving this market.
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The motion sensor market in RoW is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing demand for consumer electronics and premium automobiles.
The breakup of primaries conducted during the study is depicted below:
- By Company Type: Tier 1 = 55%, Tier 2 = 20%, and Tier 3 = 25%
- By Designation: C-Level Executives = 75% and Directors = 25%
- By Region: Americas = 10%, Europe = 20%, APAC = 40%, and RoW = 30%
Players in the motion sensor market include STMicroelectronics (Switzerland), Murata Manufacturing (Japan), Honeywell International (Japan), NXP Semiconductors (Japan), Analog Devices (US), Microchip Technology (US), TDK InvenSense (US), Bosch Sensortec (Germany), Memsic (US), Kionix (US), TE Connectivity (Switzerland), IFM Electronic (US), Sensata Technologies (US), Xsens Technologies (Netherlands), Colibrys (Switzerland), Seiko Epson (Japan), KVH Industries (US), InnaLabs (Ireland), Qualtre (US), and Panasonic Electric Works (Germany).
Factors such as growing trend of advanced wearables, increasing reliance of industries on IoT, and increasing production of unmanned vehicles are expected to generate opportunities for players in the motion sensor market.
- Illustrative segmentation, analysis, and forecast for the market based on motion technology, application, and geography have been conducted to offer an overall view of the motion sensor market.
- Major drivers, restraints, opportunities, and challenges pertaining to the motion sensor market have been detailed in the report.
- Opportunities in the market have been defined for stakeholders, along with the details of the competitive landscape for market leaders.
- Strategic profiling of key players in the motion sensor market has been done, players have been ranked, and core competencies have been comprehensively analyzed.
- The study also covers the competitive leadership mapping for 25 players in the motion sensor market.
Reasons To Buy This Report
The report would help leaders/new entrants in the motion sensor market in the following ways:
- This report segments the motion sensor market comprehensively and provides the closest market size estimations for segments across regions.
- The report would help stakeholders understand the pulse of the market and provide them information on key drivers, restraints, challenges, and opportunities governing market growth.
- This report would help stakeholders understand their competitors better and gain insights to improve their position in the business.
- The competitive landscape section includes the competitor ecosystem, and growth strategies such as product launches, acquisitions, expansions, collaborations, and partnerships.