New York, NY, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “E-Compass Market By Sensor Type (1 & 2-axis, 3-axis, 6-axis, 9-axis), By Technology (Fluxgate, Hall-Effect, Magneto resistive, Others), By Application (Consumer Electronics, Aerospace & Defense, Automotive, Marine, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global E-Compass Market was estimated at USD 908.6 million in 2019 and is expected to reach USD 4,187 million by 2026. The global E-Compass Market is expected to grow at a compound annual growth rate (CAGR) of 15.2% from 2019 to 2026.
The type of electronic device which uses the earth’s magnetic field for determining the geographic direction of the user is termed as e-compass. It can also be used as a magnetometer and accelerometer and this equipment is integrated with microelectromechanical systems. This is a kind of technology that merge the nanoscale with nanotechnology and nanoelectromechanical systems. For the positioning devices, e-compass provides exactness as well as directional information for positioning purposes. It can be helpful in various applications like military, transportation, construction, and industry, personal among others.
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- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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E-Compass has wide applications in industry verticals. The portable devices for electronics can deploy e-compass sensors, and act as navigational tools for it. The high sales of tablets, smartphones, and wearable devices have boosted the market. The production of low power and the compact new e-compass sensor has gained more popularity and is adopted widely. Verticals such as aerospace and surveying are dependent on high-grade e-compass sensors for better results. The key players of the e-compass market have adopted different business strategies like developments, new product launching, partnerships, geographic expansion, collaborations, acquisitions & mergers to fulfill the need for the optical interconnect market.
Top Market Players:
- STMicroelectronics
- Asahi Kasei Microdevices Corporation
- Honeywell International
- MagnaChip Semiconductor
- Aichi Steel
- Oceanserver Technologies
- Bosch Sensortec
- NXP Semiconductors N.V.
- InvenSense Inc.
- mCube Inc.
- TrueNorth Technologies
- PNI Sensors Corporation
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E-Compass Market: Growth Drivers
The high demands for minerals globally will boost the global e-compass market. Also, the consumer electronics industry is growing widely such as tablets, smartphones, wearable devices which will further increase the demand for the e-compass market. The rise in urbanization rate, rise in disposable income, change in lifestyle of people will also grow the market for e-compass. The high usage of e-compass sensors which are from magneto resistive technology will also be responsible for the growth of the e-compass market globally. Another factor which can create lucrative opportunities in the coming years can be the usage of e-compass in the unmanned aerial vehicle as well as autonomous underwater vehicles worldwide.
E-Compass Market: Key Segments
The market for e-compass can be segmented based on sensor type, technology, application, and region. Based on the type of sensor the market can be bifurcated into 1 & 2 axis, 3 axis, 6 axis, and 9 axis. Based on technology, the market is bifurcated into fluxgate, Hall Effect, magneto resistive, and others. Further, based on the application the market for e-compass can be classified into consumer electronics, marine, surveying, automotive, aerospace & defense, and others.
Browse the full “E-Compass Market By Sensor Type (1 & 2-axis, 3-axis, 6-axis, 9-axis), By Technology (Fluxgate, Hall-Effect, Magneto resistive, Others), By Application (Consumer Electronics, Aerospace & Defense, Automotive, Marine, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/e-compass-market
The global e-compass market is experiencing significant growth that is expected to continue over the upcoming years. Also, the high demands for minerals globally will boost the global e-compass market. Also, the consumer electronics industry is growing widely such as tablets, smartphone’s, wearable devices which will further increase the demand for the e-compass market
The e-compass market research report delivers an acute valuation and taxonomy of the e-compass industry by practically splitting the market on the basis of different sensor types, technology, application, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
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Global E-Compass Market: Sensor Type Analysis
- 1 & 2 Axis
- 3 Axis
- 6 Axis
- 9 Axis
Global E-Compass Market: Technology Analysis
- Flux Gate
- Hall Effect
- Magneto Resistive
- Others
Global E-Compass Market: Application Analysis
- Consumer Electronics
- Automotive
- Marine
- Aerospace & Defense
- Others
E-Compass Market: Regional Analysis
In terms of geography, Asia Pacific is expected to hold the majority of share because the high volume of manufacturers from the consumer electronics sector is based especially in China. After the Asia Pacific, North America will have a significant share due to the high growth in wearable devices, and high adoption of technological advancements in the region.
Key Insights from Primary Research
- As per our primary respondents, the global e-compass market is set to grow annually at a rate of around 15.2%, and the revenue was valued at around USD 908.6 million in 2019.
- The Asia Pacific held the largest market share in 2019 due to the high volume of manufacturers from the consumer electronics sector in this region.
- On basis of the “Technology” segment, the hall-effect segment dominated the global e-compass market as they are much economical in terms of cost as well as have been miniaturized in the form of ICs.
- On basis of the “Sensor Type” segment, the 1 & 2 axis segment dominated the global e-compass market because it is widely used in aviation, defense industries.
- The presence of well-established players has intensified the industry rivalry, due to which the degree of competition is considerably higher.
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