The global motion sensor market size is projected to touch USD 8.7 billion by 2025. The market is anticipated to grow at 7.8% CAGR, Growing use of motion sensors in gaming devices and consumer electronics is driving the market growth. Rapidly increasing consumer electronics market is positively affecting the market growth. For example, newly introduced wearable devices are gaining traction among consumers.
Technologies such as Virtual Reality (VR) and Augmentative Reality (AR) are increasingly getting popular in consumer electronics. These technologies are incorporated in smart phones and wearable devices such as VR glass, smart glass, head-up display and VR motion chairs. Motion sensors play crucial role in development of VR and AR applications. The number of VR users has increased from 1 million in 2014 to 150+ million in 2018. Thus, growing VR application is expected to create a lucrative opportunity for the market players.
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For AR/VR domain, motion sensors are used for gaming applications. Motion gaming system enables players to interact with the help of body movements. The demand for interactive games has increased significantly over the last few years, thereby, supporting the growth of motion sensors.
Europe held the largest share in the motion sensors market and the region is projected to maintain its dominance over the next few years. Presence of leading automobile giant in the region is driving the growth of the market. On the other hand, Asia Pacific is anticipated to register the fastest CAGR over the forecast duration.
Further key findings from the report suggest:
• Asia Pacific is a key market for consumer electronics and thereby, projected to occupy the significant share in the market over the forecast duration.
• The microwave category is predicted to exhibit significant growth rate as they can operate in the K-band frequency range.
• Healthcare segment is projected to grow considerably owing to increasing demand for wireless body area networks.
COVID-19 Impact Insights
The motion sensors market has witnessed a steep decline owing to the COVID-19 outbreak. Closure of companies involved in the production of motion sensors is the key factor attributing to a sharp decline. Automotive and industrial sectors are the major end-user of motion sensors. Following the pandemic outbreak, these industries have register nominal growth, consequently, affecting market growth for motion sensor.
However, the market has witnessed significant demand from the healthcare sector during COVID-19. Further, with relaxing lockdown norms, it is projected to find its application in various other industries well. In addition, companies have increased their spending on research and development, and they are estimated to come up with different variants of dual technology motion sensors.
Global Motion Sensor Market: Key Players
Kionix, Inc., NXP Semiconductors, SENSINOVA, TE Connectivity Ltd. and STMicroelectronics
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