Published: January 2020 | Report Code: SE11830 | Available Format: PDF | Pages: 162
The motion sensor market revenue stood at $4,430.7 million in 2019, and the market is expected to advance at a CAGR of 5.1% between 2020 and 2030. Furthermore, the market is predicted to reach $7,590.8 million by 2030.
Across the globe, the market will demonstrate the fastest growth in the Asia-Pacific (APAC) region in the coming years. This is primarily credited to the soaring requirement for motion sensors in India, Japan, Indonesia, South Korea, and China because of the surging manufacturing of tablets, smartphones, lighting systems, gaming consoles, electronic medical devices, and building automation equipment.
One of the major trends currently being witnessed in the industry is the production of microelectromechanical system (MEMS)-based motion sensors. MEMS, manufactured on a silicon wafer, offer economies of scale, as thousands of sensors can be manufactured in a single batch process. Magnetometer, gyroscope, and accelerometer are the most-widely used types of MEMS-based motion sensors, as they are rather important for smart wearable devices, medical equipment, and smartphones.
One of the major factors fueling the expansion of the motion sensor market is the burgeoning requirement for consumer electronics. Motion sensors are extensively used in heart rate monitors in smart wearable devices and for controlling the orientation of smartphone screens. The mushrooming requirement for wearable devices and smartphones among young people, especially the millennials, is propelling the sales of motion sensors. Furthermore, with the surge in the global population, the sales of consumer electronics are predicted to rise, thereby propelling the requirement for motion sensors in the forthcoming years.
The increasing usage of internet of things (IoT) devices is a major opportunity for the players in the market for motion sensors. As per the Institute of Electrical and Electronics Engineers (IEEE), nearly 27 billion IoT devices were in use across the world in 2017, and this number is predicted to rise to 125 billion by 2030. With the incorporation of IoT capabilities, motion sensors can monitor the physical status of a device from a remote location. Furthermore, these devices have the ability to improve various building automation applications, such as heating, ventilation, and air conditioning (HVAC) controls and lighting systems.
In 2019, the passive category contributed the higher revenue to the motion sensor market, under the technology segment. This category is also predicted to demonstrate the faster growth in the forthcoming years owing to the surging requirement for MEMS and passive infrared (PIR) motion sensors. Passive MEMS motion sensors are mainly used in medical devices, industrial machinery, and consumer electronics. Thus, the ballooning requirement for these devices and systems is predicted to propel the expansion of this category in the coming years.
The combo sensor category generated the highest revenue in the market for motion sensors in 2019, under the type segment. This is ascribed to the microfabrication of several types of motion sensors into a single device, which provides higher accuracy in detecting motion. Combo sensors are used in consumer electronic devices, such as smartphones, where the gyroscope, magnetometer, and accelerometer are integrated into a single MEMS system.
The building automation category is predicted to demonstrate the highest growth rate under the application segment of the market in the upcoming years. This is attributed to the growing requirement for green buildings on account of the increasing concerns over global warming. In this regard, the building automation technology is required for using power efficiently and reducing the carbon footprint, thereby propelling the expansion of this motion sensor market category. Furthermore, motion sensors are deployed as occupancy sensors, wherein they carry out dedicated functions, such as the on/off function of HVAC systems and lighting.
Geographically, APAC held the largest share in the motion sensor industry in the past. Moreover, the market is predicted to exhibit the fastest growth in this region in the coming years. This is credited to the fact that this region is the biggest consumer electronics market in the world, led by India, Thailand, Indonesia, South Korea, Japan, and China.
In APAC, the industry is predicted to demonstrate the fastest growth in India because of the progress of the country’s electronics industry. As per the India Electronics and Semiconductor Association (IESA) and Invest India, the country’s electronics industry will attain a value of $400 billion by 2025. Furthermore, the increasing number of commercial projects, particularly offices and residential buildings, and upcoming sports events are predicted to push up the demand for building automation. This is predicted to create lucrative growth opportunities for the motion sensor market players.
The motion sensor is highly fragmented and a mature market. Several major players in the market include Analog Devices Inc., Panasonic Corporation, Honeywell International Inc., Robert Bosch GmbH, STMicroelectronics N.V., and NXP Semiconductors N.V., Schneider Electric SE, Eaton Corporation plc, Murata Manufacturing Co. Ltd, Koninklijke Philips N.V., and TE Connectivity Ltd.
Changing market dynamics due to factors such as growing demand for autonomous and electric vehicles, security and surveillance systems, building automation, medical devices, and others, is projected to drive the market in the coming years. This is projected to intensify the competition among the market players during the forecast period.
The motion sensor market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Technology
Based on Type
Based on Application
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