Market Overview

Motion Sensor Market

Share:

New York, April 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Motion Sensor Market" - https://www.reportlinker.com/p05879076/?utm_source=GNW

The major reasons behind the prosperity of the motion sensor market are the increasing demand for consumer electronics and the expansion in the worldwide automotive industry. From $4,430.7 million in 2019, the market revenue is expected to grow at a CAGR of 5.1% during 2020–2030 (forecast period). At this rate, the sales of these devices are projected to be worth $7,590.8 million by 2030. Such devices are used to see the distance traveled by a physical body in a defined area.

On the basis of technology, the motion sensor market is bifurcated into passive and active, of which the passive bifurcation dominated it in 2019, and it would also experience the higher CAGR during the forecast period. This is credited to the rising adoption of microelectromechanical system (MEMS) and infrared (IR) motion sensors that work on the passive technology. Such devices are widely utilized in medical devices, consumer electronics, and industrial machines.

To cater to the rising requirement for such devices, the production of motion sensors has to be raised significantly. Therefore, in order to save costs, manufacturers are turning to the MEMS technology to produce these devices, as it is based on the process of microfabrication. Apart from cost benefits, MEMSs also offer enhanced reliability and performance figures, which is why this technology is becoming a motion sensor market trend. As MEMSs are based on silicon wafers, a single batch of semiconductors can produce thousands of motion sensors.

The increasing demand for consumer electronics is one of the most important drivers for the market. Motion sensors have numerous uses in electronics, such as detecting the heartbeat in smart wearables and controlling a smartphone's screen orientation. A high interest in consumer electronics, including smartphones, smart wearables, and augmented reality (AR)/virtual reality (VR) devices, is being displayed by the millennials and the young, owing to the rising disposable income and standard of living and easy access to financing. With population boom, the sale of consumer electronics would surge further.

Under the application segment, the categories of the motion sensor market are consumer electronics, automobile, medical device, industrial equipment, building automation, and others. Among these, the largest share, in 2019, was held by the automobile category, majorly because of the rising popularity of autonomous and electric vehicles. Motion sensors are predicted to make autonomous vehicles better, by improving electronic equipment stability detection, battery performance, navigation system, braking and stability control, airbag system, suspension monitoring and control, and security system.

The Institute of Electrical and Electronics Engineers (IEEE) estimates around 2 billion autonomous vehicles to ply on roads by 2025. Additionally, as per the International Organization of Motor Vehicle Manufacturers (OICA), in 2018, the automotive industry registered a sale of 95.1 million commercial and passenger vehicles. The increasing automobile demand in developing countries, such as Indonesia, China, Brazil, Thailand, and India, is responsible for such high numbers. Further, with people shifting to electric vehicles, the global automotive industry would progress, in turn, helping the motion sensor market grow.

On a geographical basis, Asia-Pacific (APAC) has been the largest market for such devices, owing to its hugely productive manufacturing industry, especially in China. The country is a global leader in the production of semiconductors, which according to its Ministry of Commerce, brought a revenue of $65 billion in 2016. With this value targeted to rise to $365 billion by 2025, the market for motion sensors in the region is expected to display the highest CAGR during the forecast period.

Therefore, with the increasing demand for autonomous vehicles and consumer electronics, the use of motion sensors will also grow.
Read the full report: https://www.reportlinker.com/p05879076/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

Primary Logo

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com