Chicago, Ill. -- The report "Motion Sensors Market by Motion Sensor Technology (Infrared, Ultrasonic, Microwave, Dual Technology & Tomographic), Embedded Sensor Type (Accelerometer, Gyroscope, Magnetometer & Combos Sensor), Application & Region - Global Forecast to 2020", published by marketsandmarkets, the global Motion Sensors Market is expected to witness substantial growth, due to rising applications across various industry verticals. The market was valued at USD 3.10 Billion in 2014 and is projected to reach USD 6.45 Billion by 2020, at a CAGR of 12.93% from 2015 to 2020.
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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.
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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 USD 981.33 Million in 2014 and is expected grow at a CAGR of 14.03% 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% during the forecast period. The motion sensors market in Europe and North America is also expected to register substantial growth rate.
The research study is aimed at identifying emerging trends and opportunities in the global motion sensor market and analyzes the market with explicit focus on high-growth applications and the fastest-growing market segments. The study also includes analysis of the future of the global motion sensor market and market opportunities till 2020. This report also makes use of the Porter's Five Forces Analysis, which provides an in-depth analysis of the market providing a detailed process flow diagram and market dynamics, such as drivers, restraints, and opportunities. The research study strategically profiles key players and comprehensively analyzes their market share and core competencies, along with detailing the competitive landscape for market leaders.
This report also profiles the major companies operational in the global motion sensors market. They include Bosch Sensortec GmbH (Germany), Freescale Semiconductor Ltd. (U.S.), STMicroelectronics (Switzerland), MEMSIC, Inc. (U.S.), Microchip Technology, Inc. (U.S.), InvenSense, Inc. (U.S.), Kionix, Inc (U.S.), Honeywell International, Inc. (U.S.), Murata Manufacturing Co., Ltd. (Japan), and Analog Devices, Inc. (U.S.).