Insights on Global Motion Sensor Market Size, Share, Trends and Future Growth Predictions

Market Research Reports Search Engine (MRRSE) has recently added a new study on the global motion sensor market; the study estimates it to rise at an impressive CAGR of 21.20% during the period from 2015 to 2023. The study states that the market is likely to increase from a value of US$3.2 bn in 2014 to US$18.2 bn by the end of the forecast period. 

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The research report, titled “Motion Sensor Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” has been published by Transparency Market Research (TMR).

According to the study, the increasing application of motion sensors in mobile phones and automobiles has boosted this market significantly over the last few years. The proliferation and further advancement of computers and online games have also fueled the demand for these sensors in the global arena. However, the rising awareness regarding the disadvantages of infrared sensors is projected to hamper the market’s growth during the forecast period. The growing usage of substitutes is also expected to limit this market in the coming years, states the report.

The report has analyzed the global motion sensor market on three fronts: The type of sensor, application, and the technology. Based on type, the market has been categorized into micro electro mechanical systems (MEMS) magnetometer, MEMS gyroscope, MEMS accelerometer, ultrasonic sensor, and sensor combos. The MEMS accelerometers segment led the overall market in 2014.

By application, the market has been segmented into consumer electronics, fitness and wellness, automotive, aerospace and defense, industrial, healthcare, and other applications. In 2014, the consumer electronics segment dominated the overall market. Analysts expect this segment to maintain its dominance over the forecast period, notes the study.

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On the basis of technology, the market has been classified into microwave sensors, tomographic sensors, infrared motion sensors, ultrasonic sensors, and sensors based on other technologies. In 2014, the infrared sensors segment enjoyed the highest demand among all. However, the microwave sensors segment is likely to register the highest growth during the forecast period.

The report also studies the worldwide market for motion sensors on the basis of its regional spread. North America, Asia Pacific, Europe, and the Rest of the World have been identified as the key markets for motion sensors. Europe emerged as the leading regional market for motion sensors in 2014 and is likely to maintain its position over the forecast period, states the research study.

Analog Devices Inc., InvenSense Inc., STMicroelectronics N.V., Kionix Inc., Honeywell International Inc., MEMSIC Inc., NXP Semiconductors N.V., Robert Bosch GmbH, Murata Manufacturing Co. Ltd., and Microchip Technology Inc. are the major suppliers of motion sensors profiled in this report.

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This release was published on openPR.