Expanding Consumer Electronics Sector Driving Motion Sensor Demand

Organisation Internationale des Constructeurs d'Automobiles (OICA) estimates that 53,598,846 passenger cars and 24,372,388 commercial vehicles were sold across the world in 2020. Furthermore, the International Energy Agency (IEA) states that the global stock of plug-in hybrid electric vehicles (PHEV) (cars) and battery electric vehicles (BEV) (cars) stood at 3,346,713 and 6,850,327 units, respectively, in 2020.

The increasing sale of vehicles owing to the improving economic conditions of customers will create a huge requirement for motion sensors, due to their usage in wheel alignment systems, vehicle alarm systems, and airbag systems. Moreover, the burgeoning demand for smartphones and medical equipment will augment the motion sensor market at a CAGR of 5.1% during the forecast period (2020–2030).

Motion Sensor Market Quantitative Analysis, Current and Future Trends 

According to P&S Intelligence, the market revenue is projected to surge from $4,430.7 million in 2019 to $7,590.8 million by 2030. In recent years, the electronics industry has been focusing on the integration of microelectromechanical system (MEMS)-based motion sensors, such as magnetometers, gyroscopes, and accelerometers, in their products because the MEMS technology aids in balancing the demand–supply gap through the process of microfabrication.

In addition to the consumer electronics industry, MEMS motion sensors are gaining traction in the building automation and automobile sectors. As a result, semiconductor companies, such as NXP Semiconductors N.V., Murata Manufacturing Co. Ltd., Panasonic Corporation, Analog Devices Inc., STMicroelectronics N.V., Robert Bosch GmbH, Koninklijke Philips N.V., Schneider Electric SE, TE Connectivity Ltd., Eaton Corporation plc, and Honeywell International Inc., are expanding their product portfolio.

This market research report provides a comprehensive overview of the market
  • The Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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