Multi-Axis Sensor Market to Observe Strong Development of 23.52% CAGR by 2023 | Global Key Players – MEMSIC, Aeron Systems, Trimble Navigation, Systron Donner Inertial, Lord MicroStrain, Honeywell, Moog, HBM

Marketprognosis.com Publish a New Market Research Report On “Global Multi-Axis Sensor Market 2018 - 2023” which contains global key player’s survey information and forecast to 2023.

Overview of the Global Multi-Axis Sensor Market:

The Global Multi-Axis Sensor Market was valued at USD 0.39 Billion in 2017 and is expected to reach a value of USD 1.41 Billion by 2023 at a CAGR of 23.52% over the forecast period (2018 - 2023).

The regions considered in the report include North America, Europe, Asia-Pacific, and Rest of the World.

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Multi-axis sensors can quantify forces in six axes by measuring in x, y, z, moments, and directions. These sensors help in determining vector load in terms of directional coordinates. They are preferred to the multiple single-axis sensors as they are smaller, cheaper along with the simpler connections. The advancements in technology enabling effective components at a lighter and smaller size, swift rise of unmanned vehicles in both the defense and civil applications and the increasing applications based on motion sensing are driving the multi-axis sensor market. However, complexity in integrating them within existing systems is restraining their adoption. Nevertheless, a high-performance sensor fusion to improve the accuracy of multi-axis sensor systems in order to enable new emerging and highly-demanding applications, such as indoor navigation and location-based services like IoT, indoor navigation, and location-based services, are expected to offer a significant growth potential to the market.

The integration of multiple sensor outputs bring motion sensing systems to the level of accuracy required for the most demanding applications, such as enhanced gesture recognition, gaming, augmented reality, indoor navigation, and localization-based services. In addressing these requirements, motion sensors are turning into multi-axis sensors. Technological developments have led to a considerable reduction in the size of motion sensors which has 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 applications of motion sensing in the field of consumer electronics, automotive, aerospace & defense, 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 multi-axis sensors have proven to be the perfect solution. Sensors, such as accelerometers, gyroscopes, and magnetometers, are used in smartphones, tablets, and notebook computers are generating demand for multi-axis sensors in motion sensing applications.

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Owing to its technologically advanced industries and propelling consumer electronics industry, North America dominates the market. The US accounts for the major share in the North American market owing to the increasing smartphone and gaming consoles penetration in the country. Moreover, the increasing investments in the defense sector are also creating a need for gyroscopes and IMUs (Inertial Measurement Unit). Also, high-performance inertial sensors and systems is a dynamic market segment, as an ever-increasing number of platforms require stabilization, guidance, or navigation functions. Thus, with the increased defense spending, the technological developments can lead to innovations in various sensors.

Major Key Players:

1 MEMSIC Inc.

2 Aeron Systems

3 Trimble Navigation Ltd

4 Systron Donner Inertial

5 Lord MicroStrain

6 Vectornav Technologies

7 L3 Communications

8 Honeywell International Inc.

9 Moog Inc.

10 HBM Inc. and More………………

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This study answers to the below key questions:

1 What will the market size be in 2023 and what will the growth rate be?

2 What are the key market trends?

3 What is driving this market?

4 What are the challenges to market growth?

5 Who are the key vendors in this market space?

6 What are the market opportunities and threats faced by the key vendors?

7 What are the strengths and weaknesses of the key vendors?

In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Multi-Axis Sensor Market.

Table of Contents:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Key Inferences

5 Market Overview

6 Drivers, Restraints, Opportunities and Challenges Analysis (Droc)

7 Market Segmentation

8 Competitive Landscape

9 Key Players

10 Future Outlook of the Market

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