Press release
Global Multi-Axis Sensor Market Projected to Surpass $3.65 Billion by 2029 with 17.3% Annual Growth
MultiAxis Sensor
The surge in automation need is anticipated to spur the multi-axis sensor market's expansion in the future. Automation signifies the employment of technological advancements to execute tasks with minimal to zero human intervention, thereby boosting efficiency and preciseness. The rising automation demand is fueled by the necessity for enhanced efficiency, decreased operational expenses, improved accuracy, the potential to manage intricate tasks at an increased velocity, tackling labor scarcity, and augmenting safety across diverse sectors. Multi-axis sensors offer comprehensive data concerning motion across multiple axes (X, Y, and Z), which facilitates the accomplishment of tasks with high-precision in automation systems, especially in industries like robotics and manufacturing where meticulous control is crucial. For instance, the International Federation of Robotics, which is a Germany-based robotics research institution, reported that global factories installed 553,052 industrial robots in 2022, marking a 5% increase from the year before in September 2023. Consequently, the surge in automation's demand is catalyzing the expansion of the multi-axis sensor market.
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What is the future CAGR of the multi-axis sensor market, and how will it impact industry expansion?
The market size for multi-axis sensors has seen robust growth in prior years. Starting from $1.67 billion in 2024, it is anticipated to climb to $1.87 billion in 2025, marking a compound annual growth rate (CAGR) of 11.8%. The growth witnessed in the historical period is due to the increased usage of wearable devices, a surge in demand for accurate positioning, the escalating need for multi-axis sensors in telematics, an increase in wearable health monitoring systems, and a rising demand for multi-axis sensors in gaming headsets.
The market size of the multi-axis sensor is projected to experience rapid expansion over the coming years. It is anticipated to escalate to $2.89 billion by 2029, with a compound annual growth rate (CAGR) of 11.5%. The surge in growth during the forecast period can be linked to increased industrialization, the rising popularity of unmanned vehicles, growth in consumer electronics, the increasing use of smartphones, and a rising demand within the aerospace and defense sectors. Key trends anticipated during the forecast period include technological innovations, the utilization of IoT devices, the incorporation of wearable technology, synergy with AR, and data analytics.
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What are the most significant trends transforming the multi-axis sensor market today?
Major businesses within the multi-axis sensor market are prioritizing the creation of breakthrough products such as frictionless linear motors. These innovative developments aim to improve the accuracy, speed, and efficiency of sensor systems, allowing for precise measurements and streamlined operations in fields such as robotics, manufacturing, and automation. Frictionless linear motors are state-of-the-art electric motors that facilitate movement along a straight path without any physical interaction between the moving parts. For instance, Renishaw Inc., a British electronics firm, unveiled the AGILITY 5-Axis multi-sensor coordinate measuring machines in February 2024. The AGILITY system integrates avant-garde 5-axis technology, ensuring rapid and incredibly accurate measurements across multiple planes, eliminating the need to reposition the component being measured. It naturally brings together various sensor types, including contact and non-contact sensors, offering adaptable measurement abilities. The frictionless linear motors lead to smooth, quick motion, reducing wear and extending system lifespan.
Which key market segments comprise the multi-axis sensor market and drive its revenue growth?
The multi-axis sensor market covered in this report is segmented -
1) By Type: Microelectromechanical Systems Gyroscopes, Microelectromechanical Systems Accelerometers, Digital Compass, Motion Sensor Combos, Other Types
2) By Axis: 2-Axis, 3-Axis, 6-Axis, 9-Axis
3) By Vertical: Consumer Electronics, Automotive, Aerospace And Defense, Industrial, Other Verticals
Subsegments:
1) By Microelectromechanical Systems (MEMS) Gyroscopes: 1-Axis Gyroscopes, 2-Axis Gyroscopes, 3-Axis Gyroscopes
2) By Microelectromechanical Systems (MEMS) Accelerometers: 1-Axis Accelerometers, 2-Axis Accelerometers, 3-Axis Accelerometers
3) By Digital Compass: Fluxgate Compasses, Magnetoresistive Compasses, Hall Effect Compasses
4) By Motion Sensor Combos: Gyroscope & Accelerometer Combos, Accelerometer & Magnetometer Combos, 9-Axis Motion Sensors (Gyroscope, Accelerometer & Magnetometer)
5) By Other Types: Inertial Measurement Units (IMUs), Tilt Sensors, Optical Motion Sensors
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What regions are at the forefront of multi-axis sensor market expansion?
North America was the largest region in the multi-axis sensor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi-axis sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the multi-axis sensor market?
Major companies operating in the multi-axis sensor market are Bosch Sensortec GmbH, InvenSense Inc., ATI Industrial Automation Inc., Kionix Inc., Honeywell International Inc., Jewell Instruments LLC, L3Harris Technologies Inc., Texas Instruments Incorporated, STMicroelectronics N.V., NXP Semiconductors N.V., Murata Manufacturing Co. Ltd., Analog Devices Inc., Microchip Technology Incorporated, Interface Inc., PCB Piezotronics Inc., MEMSIC Inc., Broadcom Inc., Aceinna Inc., Althen Sensors & Controls GmbH, Robotus Co. Ltd.
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What Is Covered In The Multi-Axis Sensor Global Market Report?
•Market Size Forecast: Examine the multi-axis sensor market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the multi-axis sensor market for a structured understanding.
•Key Players Overview: Analyze major players in the multi-axis sensor market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the multi-axis sensor market.
•Segment Contributions: Evaluate how different segments drive overall growth in the multi-axis sensor market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the multi-axis sensor market.
•Industry Challenges: Identify potential risks and obstacles affecting the multi-axis sensor market.
•Competitive Landscape: Review strategic developments in the multi-axis sensor market, including expansions, agreements, and new product launches.
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