The accelerometer market comprises inertial motion sensors that detect acceleration. Accelerometers detect linear movement and are used in various applications ranging from consumer electronics to automation equipment. These sensors find widespread adoption in smartphones, wearables, and tablets to detect orientation and movement. The integration of accelerometers enables features like screen rotation, activity tracking, and vibration detection. Further, automotive and industrial applications continue to drive sales as accelerometers allow checking equipment motion, vehicular dynamics monitoring, and crash detection.
The Accelerometer Market is estimated to be valued at US$ 3.16 Billion in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the accelerometer market are Analog Devices, Bosch Sensortec, Honeywell International, Murata Manufacturing, and STMicroelectronics N.V.
The burgeoning demand for wearable devices and IoT appliances is a key factor fueling the industry growth. Accelerometers facilitate activity tracking, gesture recognition, motion detection, and other interactions in these gadgets.
Major companies are expanding their global footprint through strategic partnerships and acquisitions. For instance, in 2021, Analog Devices acquired Minic Systems to strengthen its position in the industrial and automotive markets.
Market key trends
One major trend gaining traction is the integration of multiple sensors into a single chip. Leading firms are developing Combo sensors that combine accelerometers with gyroscopes and magnetometers. These system-in-package sensors help minimize board space and cost for OEMs while enhancing functionality. Further, the rising electric vehicles production is propelling the need for advanced driver assistance systems. As accelerometers are vital components in airbag control units and rollover detection systems, their adoption is surging. Lastly, the growing miniaturization of electronic components involves shrinking the size of MEMS sensors. Manufacturers are developing 3D IC packaging and monolithic integration techniques to produce ultra-compact motion sensors.
Porter’s Analysis
Threat of new entrants: It is moderately difficult for new players to enter the market due to high R&D and manufacturing costs.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and supply from various manufacturers.
Bargaining power of suppliers: Suppliers have low bargaining power due to presence of multiple component suppliers and low switching costs.
Threat of new substitutes: Threat from substitutes is low as accelerometers have proprietary applications in various industries.
Competitive rivalry: The market is moderately competitive due to presence of few large players and low brand differentiation.
Geographical Regions
The accelerometer market in terms of value is concentrated in North America due to extensive usage of accelerometers in consumer electronics and automotive industries. USA holds majority of the market share in North America accelerometer market owing to largest electronics sector and presence of major automotive OEMs and component manufacturers.
The Asia Pacific region is the fastest growing geographical region for accelerometer market majorly driven by increasing electronics manufacturing especially in China, India, Japan and South Korea. High adoption of consumer electronics, rising automotive production, increasing infrastructural activities and growing healthcare sector are contributing to accelerometer market growth in Asia Pacific region. Countries like China and India are poised to become major production and consumption hubs for accelerometers in coming years.
What Are The Key Data Covered In This Accelerometer Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Accelerometer growth between 2024 and 2031.
:- Accurate calculation of the size of the Accelerometer and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Accelerometer Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Accelerometer vendors
FAQ’s
Q.1 What are the main factors influencing the Accelerometer?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Accelerometer companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Accelerometer distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile