According to the latest market research report released by Marketsandmarkets, the motion sensor market is estimated to grow from USD 5.7 billion in 2019 to USD 9.3 billion by 2025, at a CAGR of 8.3%. The market is mainly driven by huge demand for consumer electronics; stringent government regulations for automotive; use of MEMS technology in motion sensors; growing adoption of automation; rising demand from emerging economies; and increasing expenditure in defence.
Market for dual technology to grow at highest rate
The market for dual technology is expected to grow at the highest CAGR during the forecast period. Dual technology motion sensing is widely used in consumer electronics and automotive applications. Presently, this market holds significant value and is expected to witness high growth in the coming years owing to the use of motion sensors for high-precision motion detection. The markets for infrared and microwave motion technologies are expected to grow at the second-highest CAGR during the forecast period.
Consumer electronics hold the largest share
Based on application, the consumer electronics application is expected to hold the largest share of the overall motion sensor market during the forecast period. The consumer electronics segment is driving the market for motion sensors. The growth is attributed to the increasing demand for smartphones and tablets. Moreover, the increased demand in the interactive motion gaming and the use of gyroscopes in smart gadgets are also driving the growth of the motion sensor market.
Europe is the main consumer
The motion sensor market in Europe is expected to account for the largest share of the overall motion sensor market throughout the forecast period. Europe is emerging as the manufacturing hub for applications such as automotive and consumer electronics, which are also the major contributors to the motion sensor market. Therefore, Europe holds the leading position in this market. The Americas is the second-largest market for motion sensors and it is expected to hold its position during the forecast period. Growing industrial and home automation; emerging applications, such as augmented and virtual reality and IoT; and huge defence expenditure by the US government are the major factors driving this market.
The report profiles some of the most promising players in the market. The market is highly dynamic because of the presence of a significant number of big and small players operating in it. Key players listed in the report as prominent in the market are ST Microelectronics, Murata, Honeywell, NXP Semiconductors, Analog Devices, Microchip Technology, TDK Invensense, Bosch Sensortec, Memsic, Kionix, TE Connectivity, IFM Electronic, Sensata Technologies, Xsens Technologies, Colibrys, Seiko Epson, and Panasonic amongst others.
