- The key vendors in the Global MEMS Gyroscope Market 2015-2019 are Analog Devices Inc., Bosch Sensortec, InvenSense Inc. and STMicroelectronics NV
London, 27 February 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global MEMS Gyroscope Market 2015-2019. MEMS gyroscopes are essential in mobile devices such as smartphones and tablets, and the rapid growth of the Global Mobile Devices market is expected to increase the demand for MEMS gyroscopes as well. The market shows immense growth potential during the forecast period because of the emergence of certain positive trends such as fitness and health devices, smartwatches, GPS-enabled devices, and game consoles. Advances in the MEMS Packaging industry is another major trend in the market. The overall market is expected to grow at a CAGR of 9.1 percent during the forecast period of 2014-2019.
The constant demand from consumer electronics device manufacturers is one of the major factors fostering growth of the market during the forecast period. Applications such as GPS employing motion sensors and gaming consoles are popular among mobile device users, making motion sensors an integral component of these devices. A surge in the sales of mobile devices is expected to increase the adoption of MEMS gyroscopes in these devices. In addition, the declining average sales price of MEMS gyroscopes is further augmenting growth of the market.
“With miniaturization of consumer electronics various products such as cell phones, computers, portable music systems, gaming consoles, and computing devices are infusing demand for smaller versions of components such as gyroscopes,” says Faisal Ghaus, Vice President of TechNavio Research.
“With improved technology, sensor manufacturers are manufacturing sensors on a micro scale to increase portability, thus helping easy integration. Several vendors have developed 6-axis MEMS gyroscopes, which are as small as 3*3 sq.mm. It has increased the demand for small-sized packages of MEMS gyroscopes.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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