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3-Axis Electronic Compass Market- Industry Analysis, Growth and New Market Opportunities Explored

12-18-2017 08:21 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
3-Axis Electronic Compass Market- Industry Analysis, Growth

The 3-axis electronic compass module is being designed for the purpose of low-field magnetic sensing which is having a digital interface, for the purpose of providing the heading information for the microcontroller project. This compact sensor normally fits into the small projects like UAVs and the robot navigation system. The sensor actually converts any kind of magnetic field into a differential voltage output on 3 axis. This voltage change is a raw digital output value, which can be used for the purpose of calculating headings or sensing magnetic fields coming from diverse directions. The growth of 3-axis electronic compass market is highly reliant on the growth of overall automotive and aerospace & defense market globally.

For purpose of in depth analysis, the 3-axis electronic compass market has been segmented on the basis of technology, applications and geography. Based on the technologies, the market has been segmented into four types they are like Hall Effect, fluxgate, magneto resistive and others. Various types of applications of 3-axis electronic compass includes the application in consumer electronics, automotive, marine, aerospace & defense and others. Moreover, this report also provide cross functional analysis of all the above mentioned segment across different regions such as Europe, North America, Asia Pacific, Middle East and Africa and Latin America.

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Growing invention in the automated vehicle segment and augmented reality is acting as a major growth driver for the 3-axis electronic compass market. Continuously growing usage of 3 axis electronic compass in the mount on a very low speed vehicle gives it a good advantage over 2 axis electronic compass. Therefore, the convenience of not to hold the unit level is the main factor anticipated to catalyze the growing demand of 3 axis electronic compasses during the forecast period from 2017 to 2025. In addition, adjustable cross over speed is also anticipated to increase the demand of 3-axis electronic compass in the upcoming years. In turn this is also projected to affect the market of 3-axis electronic compass in a positive manner during the forecast period.

In spite of many driving factors, the 3-axis electronic compass market is expected to show a shrink and fluctuation in growth rate because of the existence of GPS technology as a substitute for the similar application related to the navigation. Absence of additional hardware for the e compass or the navigation compass are acting as a restraining factor for the global 3-axis electronic compass market. Reduction of the sensor packages for the purpose of efficiently integrating it into the portable electronic products has portentously boosted the 3-axis electronic compass market growth in the recent time and is going to create significant opportunity for 3-axis electronic compass in coming years. Apart from that the growth of usage of wearable electronic device is also acting as an opportunity factor for the 3-axis electronic compass market in the forecast period from 2017-2025.

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By technology type, the Hall Effect type held the largest market share because of its low cost and miniaturization in the IC form. However, the magneto resistive type is projected to achieve exponential growth during the forecast period. High precision navigation in the automotive sector and extreme accuracy is expected to drive the market for magneto resistive type of electronic compass.

Geographically, the global 3-axis electronic compass market is mainly driven by Asia Pacific region. Large presence of consumer electronics manufacturer who used to buy 3-axis electronic compass is driving the market of Asia Pacific region. Rapidly growing demand of portable electronic products which used to install this type of sensors is expected to drive the 3-axis electronic compass market rapidly. This region is expected to maintain its dominance in the market during the forecast period owing to the presence of huge number of consumer electronics manufacturers in countries like China, Japan, and India among others.

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Some of the leading players operating in the 3-axis electronic compass market includes AKM-Asahi Kasei Microdevices (Japan), Adafruit (The U.S.), Garmin (Switzerland), STMicroelectronics (Switzerland) , Bosch (Germany), Philips Semiconductors (Netherlands) among others.

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

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