Motion Sensors Market Towering Swiftly To Reach USD 8.17 Billion By 2022
The major players active in motion sensors market are ST Microelectronics, Freescale Semiconductor, Ltd., Analog Devices, Inc., Invensense, Inc., Honeywell International, Inc., Murata Manufacturing Co. Ltd., Kionix Inc, Microchip Technology, Inc., Memsic Inc., and Bosch Sensortec GmbH among others. These players are claimed to bolster the motion sensors market in the years to come.
As per analysts at Zion Market Research, global motion sensors market was capitalized at almost USD 3.97 Billion in 2016 and is likely to cross almost USD 8.17 Billion in 2022, developing at a CAGR of slightly more than 12.8% from 2017 to 2022.
Number Of Applications In Household & Commercial Sectors To Boost The Development Of Motion Sensors Market In The Forecast Market
A noteworthy number of applications in household & commercial sectors such as energy efficiency security and automated lighting control are likely to boost growth of global motion sensors market, as per analysts Zion Market Research. On the other hand, accessibility of options at low price is limiting the growth of motion sensors market. Moreover, limitations of the accelerometer are negatively affecting the growth of motion sensors market.
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Nevertheless, increasing application in different industries for motion sensors will offer opportunities for the development of the motion sensors market. For instance, in August 2017, Kollmorgen launched the AKM2G, a new generation of synchronous servo motors. These motors are capable of offering benefits in conjunction with other devices, thereby boosting the motion sensors market.
Increasing Employment Of Gyroscopes For Image Stabilization, High Stability, And Navigation To Increase The Development Of Motion Sensors Market
Based on type, the motion sensors market is divided into gyroscope, accelerometer, sensor combos, and magnetometer. Increasing employment of gyroscopes for image stabilization, high stability, and navigation in the user electronics sector is likely to increase the development of this segment in motion sensors market in the near future. The technologies employed in motion sensors market are microwave, infrared, dual technology, ultrasonic, and tomographic.
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The High Demand For Consumer Electronics And Luxury Vehicles To Elevate Motion Sensors Market In Europe
On the basis of area, the motion sensors market is divided into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. Europe is likely to stay the biggest area for motion sensors market in the near future owing to the high demand for consumer electronics, luxury vehicles, voice-controlled equipment, and advanced healthcare facilities. Europe is chased by North America. Rest of the World and Asia Pacific are likely to see strong development for the motion sensors market in the future because of an elevation in requirement for wearable devices & consumer electronics and development in robotics & industrial automation sectors.