Fort Collins, Colorado, Jan. 12, 2024 (GLOBE NEWSWIRE) -- The Accelerometer Market size was valued at USD 2.7 Billion in 2022 and is anticipated to reach USD 3.9 Billion by 2032 at a CAGR of 3.7%.
An accelerometer is an electromechanical device or sensor that measures the physical acceleration of an object. Accelerometer market growth is driven by key factors such as low power consumption, improved performance, small size, and low cost. With the continuous advancement of technology and the need for better efficiency, the demand for accelerometers is expected to increase in the near future.
The accelerometer market has witnessed several innovations and has unveiled new opportunities at the global level. Recently, Bosch Sensortec launched the world’s tiniest MEMS accelerometers, BMA530 and BMA580, by using an I3C interface and wafer-level chip scale package (WLCSP) that is mainly designed for wearable. It highly features gesture recognition in toys and fall detection in laptops. The BMA580 variant helps with extending battery life in hearables and voice detection. These products are highly flexible and offer a set of interconnectivity options, according to the company sources. Also, the design and manufacture are due to the ever-increasing need for optimal performance and sleek design that require small sensors.
The rising trend of IoT (Internet of Things) and the growing need for industrial automation is creating new opportunities for the accelerometer market in the forthcoming future. As the IoT ecosystem expands, accelerometers are incorporated into many devices to enable motion sensing and tracking. From smart home devices to industrial IoT applications, accelerometers facilitate data collection and enhance functionality. Furthermore, the industrial applications of accelerometers offer significant growth opportunities for the market. Industries increasingly use accelerometers for predictive maintenance and monitoring the health of machinery. These sensors detect vibrations and anomalies in industrial equipment, helping to prevent breakdowns and improve overall operational efficiency.
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Segmentation Overview:
The global accelerometer market has been segmented into type, product, application, and region. Based on product, the market segmentation comprises 1 Axis, 2 Axis, and 3 Axis. The 3-axis accelerometer market segment accounted for a significant share in 2022. Based on application, the market segmentation includes automotive, industrial, consumer electronics, aerospace & defense, and others. Consumer electronics accounted for a high market share and is projected to remain higher in the forthcoming years.
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Accelerometer Market Report Highlights:
- The global accelerometer market growth is anticipated at a CAGR of 3.7% by 2032.
- Accelerometer market growth is driven by key factors such as low power consumption, improved performance, small size, and low cost. Additionally, rising demand for consumer electronics, car driving assistance computers, and high military spending drive the accelerometer market.
- According to Boeing Services Market Outlook (SMO), aviation support and services are projected to be worth USD 3.7 trillion in the forecast period between 2023 and 2032. The commercial services, including support for the business and general aviation markets, represent USD 2 trillion, whereas government services are forecast to be worth USD 1.7 trillion. This growing trend in the aviation industry fuels the accelerometer market.
- Asia Pacific, particularly China, has emerged as a major manufacturing hub for electronic components, including accelerometers. The region's role in global supply chains influences the market dynamics. The rapid consumer electronics market growth in countries like China and India has fueled the demand for accelerometers in smartphones, tablets, and wearables. Additionally, accelerating industrialization and the automotive boom in countries like Japan and South Korea contribute to the increasing use of accelerometers in these sectors.
- Some prominent players in the accelerometer market report include Analog Devices, Robert Bosch, Honeywell, TDK, Rockwell Automation, STMicroelectronics, NXP Semiconductors, Northrop Grumman, Meggitt, Murata Manufacturing, Safran Colibrys, Kearfott, and Al Cielo among others.
Industry Trends and Insights:
- In 2023, PCB piezoelectronics developed the TLD356A03 and TLD356A01 miniature ICP triaxial accelerometers with TEDS functionality. These sensors operate a frequency capacity from 2 to 8000 Hz (x-axis) and 2 to 5000 Hz (y-axis). Besides, these sensors measure the inner vibration within restricted spaces in automotive systems.
- Google introduced an earthquake alarm system for Android phone users in India in 2023. It uses tiny accelerometers present in smartphones to detect the seismic activity. This feature is available on Android 5 and above versions.
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Accelerometer Market Report Segmentation:
By Type: MEMS Accelerometer, Piezoelectric Accelerometer, Piezoresistive Accelerometer, and Others
By Product: 1 Axis, 2 Axis, and 3 Axis
By Application: Automotive, Industrial, Consumer Electronics, Aerospace & Defense, and Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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