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.
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Further, 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.
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This market research report provides a comprehensive overview of the motion sensor market
- Historical and the present size of the motion sensor market
- Future potential of the market through its forecast for the period 2020–2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential