The Accelerometer Market is driven by rising adoption in the automotive sector
An accelerometer is a device that measures proper acceleration forces such as gravity, motion, vibration and shock. It works on the principle of measuring force, load, stress or pressure exerted upon it. Accelerometers have applications in airbags, anti-lock braking systems, rollover detection and electronic stability control systems in the automotive sector. They are also used in smart devices, gaming consoles, wearables and other devices for motion sensing. The global accelerometer market is witnessing significant demand from industries such as consumer electronics, automotive, industrial and healthcare. The rising adoption of IoT and wearable devices is fueling market growth.
The Accelerometer Market is estimated to be valued at US$ 3.16 Billion in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the accelerometer market are Analog Devices, Bosch Sensortec, Honeywell International, Murata Manufacturing, and STMicroelectronics N.V. Analog Devices and STMicroelectronics captured over 50% of the market share in 2020.
The growing demand for wearable devices, smartphones and other consumer electronics due to rapid urbanization and rising disposable incomes is driving the accelerometer market. Accelerometers play a vital role in motion tracking, navigation and other applications in consumer electronics
Major accelerometer manufacturers are expanding their presence globally especially in Asia Pacific to leverage the growing demand from key industries in developing nations. The rising automation across industries also offers immense opportunities for market growth in emerging economies.
Market Drivers
The automotive sector is one of the major end-users of accelerometers due to their increasing adoption in advanced driver-assistance systems (ADAS), navigation, airbags, and other safety features. Stringent safety norms by regulatory authorities regarding passenger safety are mandating the integration of advanced safety systems in vehicles, thereby propelling the demand for accelerometers. The growing electrification of vehicles and development of autonomous vehicles present new areas of application and acts as a key growth driver for the global accelerometer market over the forecast period.
Impact of geopolitical situation on Accelerometer Market growth
The accelerometer market is facing challenges in growth due to the geopolitical tensions in several regions across the globe. The Russia-Ukraine conflict has disrupted the supply chain of various sensors including accelerometers. This has hampered the production abilities of sensor manufacturers in Eastern Europe. Moreover, sanctions on Russia by Western nations have negatively impacted the exports of accelerometers from there. The tensions between China and US around Taiwan issue also raise concerns about interruptions in Taiwanese semiconductor supply. Taiwanese firms are major producers of MEMS sensors including accelerometers. Any excessive escalation can jeopardize global accelerometer supplies.
The market players need to diversify their supply network and establish localized production to minimize single-point failures. Investing in manufacturing facilities across different geographic locations can help sustain operations even during geopolitical conflicts. Additionally, developing alternative raw material sources will reduce heavy dependence on particular regions for key components. The manufacturers must also focus on expanding in developing Asian and Latin American markets to offset losses from volatile geopolitical environments in US, Europe and China.
Geographical regions with high Accelerometer market share
North America currently accounts for the largest share in the global accelerometer market in terms of value. Presence of major sensor companies and widespread adoption of accelerometers in consumer electronics, automotive, industrial applications has driven high growth. The Asia Pacific region especially China, Taiwan, South Korea is also a major regional market given concentration of electronics manufacturing. Low-cost manufacturing and increasing consumption of smart consumer devices is fueling accelerometer demand. Countries like Japan, Germany are also seeing healthy uptake owing to strong automotive and industrial manufacturing base requiring motion and vibration sensing.
Fastest growing region in the Accelerometer market
The accelerometer market is expected to witness fastest growth in the Asia Pacific region during the forecast period. Rapid industrialization and urbanization is taking place across developing nations like India, Indonesia, Vietnam and Philippines which will augment the demand for monitoring and control applications using accelerometers. Additionally, the rising affluence is propelling the sales of consumer electronics and wearables where accelerometers are extensively integrated. Continuous investment by sensor companies to capitalize on tremendous opportunities in the region will further support the Asia Pacific accelerometer market to outpace other geographies in terms of growth till 2031.
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What Are The Key Data Covered In This Accelerometer Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Accelerometer growth between 2024 and 2031.
:- Accurate calculation of the size of the Accelerometer and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Accelerometer Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Accelerometer vendors
FAQ’s
Q.1 What are the main factors influencing the Accelerometer?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Accelerometer companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Accelerometer distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it