Multi-Axis Sensor Market 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)| Major Players - MEMSIC INC., AERON SYSTEMS, TRIMBLE NAVIGATION LTD, SYSTRON DONNER INERTIAL, LORD MICROSTRAIN, a

Market Analysis:

North American Region Dominates the Market
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).

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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. 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. 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. Benefited by the introduction of micro electro mechanical systems (MEMS) into consumer electronic devices, like smartphones and tablets, the worldwide MEMS market has entered the high growth phase.

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Market Segments:
Multi-Axis Sensor Market is segmented by:
1. Type: MEMS Gyroscopes, MEMS Accelerometers, Digital Compass, Motion Sensor Combos, Others
2. Application: Consumer Electronics, Automotive, Aerospace & Defense, Medical & Healthcare, Industrial, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• December 2017 - InvenSense, a TDK Group company, had released the world’s first seven-axis motion tracking device which combined accelerometer, gyroscope, and pressure sensor. The company launched ICM-20789 seven-axis combo sensor dedicated to mainly drones and flying toys as well as smart watches, wearables, and activity monitoring.

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