Accelerometer and Gyroscope Market - Forecasts from 2021 to 2026

The global accelerometer and gyroscope market is projected to witness a CAGR of 5.38% during the forecast period to reach US$12.168 billion by 2026, increasing from US$8.434 billion in 2019.

Market Drivers

The major driver operating the accelerometer and gyroscope market is the increasing investment and expenditure of the aerospace and defense sectors of the economy. The growth of the consumer electronics market coupled with the emergence of efficient, economic, and compact MEMS technology; growing adoption of automation in industries and homes; and rising demand from emerging economies is furthering the market ahead during the forecast period. The automotive sector also provides growth opportunities for the market in the years to come.

By geography, Asia-Pacific is the fastest-growing region in the market followed by North America. By end-user, the aerospace and defense segment holds a significant share, while electronics and automotive industries show noteworthy growth prospects.

Growth Factors

High-end uses in defense and aerospace

Defense and aerospace are two capital-intensive sectors that attract million-dollar investments all around the world. The government budgets also assign substantial expenditure to these sectors. High-performance accelerometers and gyroscopes are integral parts of the navigation and guidance systems used extensively in the defense and aerospace sectors. In the defense and aerospace sectors, the markets in the U.S. and Europe have matured, while many new programs are being launched in Asia, Brazil, and the Middle East. These established and emerging markets are factoring the use of the accelerometer and gyroscope in several modern systems

The emergence of MEMS technology

MEMS sensors have many applications in measuring either linear acceleration along one or several axes or angular motion about one or several axes as an input to control a system. These MEMS-based accelerometers and gyroscopes in consumer electronics are growing faster each year, with increasing demands from the mobile market, which is dominating the growth of this emerging technology. They are a component of highly used devices such as gaming consoles, smartphones, and tablets.

Impact of COVID-19 on the Accelerometer And Gyroscope Market

The pandemic has raised the importance of digital communication and the usage of electronic devices as people adopted the remote work culture, online education, and more. As such the technology behind these devices saw an uptick in demand, thereby the market for accelerometers and gyroscopes saw a positive impact. The demand from the health sector also surged during this period. But the demand from the aerospace and defense sector contracted. Overall, the market witnessed a mixed response during the pandemic.

Competitive Insights

The market leaders in the Global Accelerometer and Gyroscope Market are Infineon Technologies, TDK-Invensense, NXP Semiconductor, Northrop Grumman Corporation, Analog Devices, Inc., Robert Bosch GmbH, Honeywell International, Inc., ROHM Co Ltd, Murata Manufacturing Co., Ltd., and MTS System Corporation. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance,

• Northrop Grumman Corporation's federal IT and mission support services business, in 2020 was acquired by Peraton, an affiliate of Veritas, for $3.4 billion in cash.
• In 2018, Bosch launched BMA400 ultra-low power accelerometer for wearables and IoT applications
• Honeywell, in 2021 has launched a new series of miniature inertial measurement units HG1125 and HG1126 inertial measurement units (IMUs) for both commercial and military applications.
• Murata Manufacturing Co., Ltd. in 2020 developed a new MEMS (Micro-Electro-Mechanical Systems) 6DoF (Six Degrees of Freedom) inertial sensor named SCHA600 with 6-DOF XYZ-Axis Gyroscope & XYZ-Axis Accelerometer with Digital SPI Interface.
• Amphenol Corporation completed its acquisition of MTS Systems Corporation in 2021 and with the close of the transaction, MTS common stock will cease to trade on the NASDAQ.

Segmentation:

By Type

• Accelerometers
• Piezoelectric Accelerometer
• MEMS Accelerometer
• Others
• Gyroscope
• Fibre- Optic Gyroscope
• MEMS Gyroscope
• Ring Layer Gyroscope

By End-User Industry

• Automotive
• Aerospace and Defense
• Healthcare
• Electronics

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Australia
• Japan
• South Korea
• India
• Thailand
• Taiwan
• Indonesia
• Others