E-Compass Market to Witness Steady Growth through 2026

E-compass is an electronic compass which uses a magnetometer and an accelerometer. The global e-compass market is expected to have significant growth rate, attributed to high demand for minerals across the globe. North America and Western Europe have significant revenue share in the global e-compass market, attributed to high demand for advanced wearable devices and high per capita income in the region over the forecast period.

Global E-Compass Market Dynamics:

The growth of the global e-compass market is driven by growing adoption of e-compass in consumer electronics including wearable, tablets, and smartphones. The macroeconomic factors responsible for the growth of global e-compass market include rapid rate of urbanization, rising disposable income, changing lifestyle, and growing economies. The major restraining factor for global e-compass market is the dominance of GPS technology in advanced consumer electronics and automotive products. The factor trending the demand for global e-compass market include the use of e-compass sensors based on magneto-resistive technology. The company providing the lepidolite have significantly high opportunity in regions such as Asia-Pacific, Latin America, and the Middle East & Africa owing to the significant demand for consumer electronics in the regions.

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Global E-Compass Market Segmentation:

The global e-compass market is segmented on the basis of the axis, application, technology, and region. On the basis of axis, the global e-compass market is segmented as 1&2 axis, 3 axis, 6 axis, and 9 axis, wherein 1&2 Axis have significant revenue share in global e-compass market and is expected to have substantial growth rate. On the basis of application, the e-compass market is segmented as consumer electronics, automotive, aerospace, defense, marine, and surveying. Among the application segment, consumer electronics segment contribute for the significant revenue share over the forecast period in the global e-compass market. On the basis of technology, the global e-compass market is segmented as fluxgate, magneto-resistive, and Hall Effect, wherein fluxgate have significant revenue share in global e-compass market, whereas magneto-resistive is expected to have substantial growth rate.

Based on axis, the global e-compass market is segmented into:

1&2 Axis
3 Axis
6 Axis
9 Axis

Based on application, the global e-compass market is segmented into:

Consumer Electronics
Automotive
Aerospace
Defense
Marine
Surveying
Based on technology, the global e-compass market is segmented into:
Fluxgate
Magneto-resistive
Hall Effect

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Global E-Compass Market Regional Outlook:

Based on the geographies, the global e-compass market is fragmented into seven regions -- North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific except Japan, Japan, and the Middle East & Africa. Among the regions, Asia-Pacific except Japan accounts for a significant share of the global e-compass market with a substantial CAGR as majority of consumer electronics manufacturer are based in Asia Pacific particularly in China. The North America region accounts for significant share in the global e-compass market with significant growth rate, owing to rising adoption of advanced wearable devices in aerospace across the region. Western Europe revenue share is followed by North America region in the global e-compass market, attributed to increasing demand for directional sensors in consumer electronics market. Eastern Europe and Japan also accounts for significant value share in the global e-compass market. The developing economy such as Middle East Africa and Latin America have a substantial growth in the global e-compass market, owing to consumer electronics in the region. Overall, the outlook for the global e-compass market will have a positive growth over the forecast period.

Global E-Compass Market Player:

Few players in the global e-compass market include Honeywell International, ST Microelectronics, TrueNorth Technologies, Bosch Sensortec, PNI Sensors Corporation, InvenSense, Inc., Aichi Steel, STMicroelectronics, MagnaChip Semiconductor, MEMSIC, Oceanserver Technologies, mCube Inc., Asahi Kasei Microdevices Corporation, Invensense Inc., and NXP Semiconductors N.V.

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This release was published on openPR.