Supply Shortages Prevail During COVID-19 Outbreak, Restricting Growth of Motion Sensor Market Globally

The major reasons behind the prosperity of the motion sensor market are the increasing demand for consumer electronics and the expansion in the worldwide automotive industry.

From $4,430.7 million in 2019, the market revenue is expected to grow at a CAGR of 5.1% during 2020-2030 (forecast period).

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At this rate, the sales of these devices are projected to be worth $7,590.8 million by 2030. Such devices are used to see the distance traveled by a physical body in a defined area.

On the basis of technology, the motion sensor market is bifurcated into passive and active, of which the passive bifurcation dominated it in 2019, and it would also experience the higher CAGR during the forecast period.

This is credited to the rising adoption of microelectromechanical system (MEMS) and infrared (IR) motion sensors that work on the passive technology. Such devices are widely utilized in medical devices, consumer electronics, and industrial machines.

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To cater to the rising requirement for such devices, the production of motion sensors has to be raised significantly. Therefore, in order to save costs, manufacturers are turning to the MEMS technology to produce these devices, as it is based on the process of microfabrication.

Apart from cost benefits, MEMSs also offer enhanced reliability and performance figures, which is why this technology is becoming a motion sensor market trend. As MEMSs are based on silicon wafers, a single batch of semiconductors can produce thousands of motion sensors.

The increasing demand for consumer electronics is one of the most important drivers for the market. Motion sensors have numerous uses in electronics, such as detecting the heartbeat in smart wearables and controlling a smartphone's screen orientation.

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A high interest in consumer electronics, including smartphones, smart wearables, and augmented reality (AR)/virtual reality (VR) devices, is being displayed by the millennials and the young, owing to the rising disposable income and standard of living and easy access to financing. With population boom, the sale of consumer electronics would surge further.

Therefore, with the increasing demand for autonomous vehicles and consumer electronics, the use of motion sensors will also grow.

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This release was published on openPR.