Showing posts with label Motion Sensor Market Size. Show all posts
Showing posts with label Motion Sensor Market Size. Show all posts

Coronavirus Business Impact – Motion Sensor Market In-depth Analysis of the Industry with Future Estimations

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The burgeoning demand for consumer electronics is one of the major factors propelling the need for motion sensors across the world. Motion sensors are widely used in consumer electronics for a wide array of applications such as in controlling the orientation of the smartphone screen. The consumer electronics industry is expanding at a rapid rate, on account of the soaring demand for wearable devices and smartphones, especially from millennials. 


Furthermore, the surging global population level is also expected to boost the need for consumer electronics, which in turn, will fuel the rise in the demand for motion sensors. Driven by the above factors, the global motion sensor market is expected to increase its revenue from $4,430.7 million in 2019 to $7,590.8 million by 2030, with a CAGR of 5.1% during the forecast period (2020–2030). 

The wide-scale usage of motion sensors in various automotive components such as vehicle alarm system, wheel alignment system, and airbag system, and the huge growth of the automotive industry over the last few years are the other factors contributing to the rising demand for motion sensors across the world. As per the International Organization of Motor Vehicle manufacturers (OICA), 95.1 million vehicles including passenger and commercial vehicles were sold in 2018. 


In addition to this, the increasing focus on the adoption of electric vehicles throughout the world is also pushing the demand for motion sensors.Motion sensors are used in consumer electronics, automobiles, medical devices, building automation systems, and industrial equipment. Amongst these, the building automation systems, owing to the rising adoption of heating, ventilation, and air-conditioning (HVAC) equipment, are predicted to record the fastest growth in the usage of motion sensors during the forecast period.
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Motion Sensor Market Share: In-Depth Coverage And Various Important Aspects by 2030

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The demand for consumer electronics has been increasing rapidly across the globe, as the disposable income of people is rising. In addition to this, the price of products such as smartphones and laptops has decreased considerably since the past few years, owing to technological advancements, owing to which a larger number of people are now able to afford such products. 


In fact, the penetration of smartphones has been increasing considerably in developing countries such as China and India. Other than smartphones wearable devices have also become increasing popular among young people these days. Attributed to all these factors, the motion sensor market is predicted to generate a revenue of $7,590.8, rising from $4,430.7 million in 2019, and is expected to progress at a 5.1% CAGR during the forecast period (2020–2030). 



On the basis of type, the market is divided into combo sensor, infrared, gyroscope, accelerometer, tomographic sensor, and ultrasonic, among which, the combo sensor division, accounted for the major share of the market in 2019. This is due to the microfibrication of different types of motion sensors into a single device, as it offers enhanced accuracy while detecting motion. All these consumer electronic products make use of motion sensors for functioning properly. 


A motion sensor is designed for detecting and measuring movement and are majorly utilized in business and home security systems. Motion sensors are integrated along with an embedded computer, a sensor unit, and hardware and are meant for performing highly specific functions, such as triggering audible alarms, alerting the police, activating floodlights, and activating floodlights. The global motion sensor market is predicted to advance at a significant pace in the years to come, owing to the increasing use of consumer electronics.
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