Motion Sensor Market size is projected to touch USD 8.7 billion by 2025. The market is anticipated to grow at 7.8% CAGR, according to a new report by Million Insights, 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.
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The key driving factors responsible for the growth of Motion Sensor
market :
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.
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.
• Leading players operating in
the market are Kionix, Inc., NXP Semiconductors, SENSINOVA, TE Connectivity
Ltd. and STMicroelectronics among others.
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