This market study presents a detailed analysis of the key drivers and trends that influence market growth. It also segments the global motion sensor market for wearables by the sensor type (accelerometer and gyroscope), by application (smart watches, smart bands, smart clothing, and smart glasses), and by geography (Americas, APAC, and EMEA). The key vendors analyzed in this report are Bosch Sensortec, Freescale Semiconductor, InvenSense, Kionix, MEMSIC, and STMicroelectronics.
Technavio’s market research analysts estimate the global motion sensor market for wearables, to grow at a CAGR of 26% between 2016 and 2020. Consumers are using wearable devices to monitor daily fitness and health activities, listen to music, and play virtual games. The augmented demand and adoption of wearable lifestyle devices are expected to drive the growth prospects of this market during the forecast period. The Americas is the highest revenue-contributing region in the motion sensors for wearables market, and is expected to occupy around 61% of the total market share.
The new market research report from Technavio provides a breakdown and analysis of the motion sensors for wearables segments by technology.
“The market is currently witnessing growing demand for combo MEMS sensors. For instance, vendors such as InvenSense and STMicroelectronics have developed dyes that can integrate both accelerometers and gyroscopes. In such sensors, two or more discrete sensors, such as accelerometers, gyroscopes, and magnetometers, are fused together to enhance efficiency. Also, these sensors take up less space so they can be embedded into a single system easily. Also, integrating data from multiple sensors eliminates the deficiency of individual sensors when calculating position and orientation information accurately,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research
In this market research report, analysts have estimated the smart watches segment to be the largest market segment during the forecast period and accounted more than 57% of the market share during 2015. The introduction of low-cost smart watches, such as Asus ZenWatch 2, along with the rise in adoption of smart bands will result in this market segment’s impressive growth by 2020.
The key vendors in the global motion sensor market for wearables include Bosch Sensortec, Freescale Semiconductor, InvenSense, Kionix, MEMSIC, and STMicroelectronics. This market is still in the nascent stage and is dominated by a few large vendors. This competition will also bring about significant technological changes, as all the big vendors are investing in R&D to differentiate their products.
A more detailed analysis is available in the Technavio report, Global Motion Sensor Market for Wearables 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
