Motion Sensor Market Research Report: By Technology (Active, Passive), Type (Infrared, Ultrasonic, Tomographic Sensor, Accelerometer, Gyroscope, Combo sensor), Application (Consumer Electronics, Automobile, Medical Device, Building Automation, Industrial Equipment)
NEW YORK, Feb. 03, 2020 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, the global motion sensor market share was valued at $4,430.7 million in 2019, and it is projected to reach $7,590.8 million by 2030, advancing with a CAGR of 5.1% during the forecast period (2020–2030). The building automation category is expected to register fastest growth rate during the forecast period; attributed to surging demand for green building and need to curb carbon emission, across the globe, particularly in the U.S., China, India, and Saudi Arabia.
In 2019, the passive category held the largest share in the motion sensor market. This was be owing to large scale demand for passive infrared (PIR) and microelectromechanical systems (MEMS) motion sensors. Passive MEMS motion sensor is primarily used in consumer electronics, medical devices, and industrial machineries.
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Rising demand for electronic devices such as smartphones, medical equipment, and in applications for automobiles, building automation, spurred the demand for sensors including motion sensors. MEMS technology has assisted in balancing the demand-supply gap through the process of microfabrication. Market players such as NXP Semiconductors N.V., Panasonic Corporation, STMicroelectronics N.V., Koninklijke Philips N.V., Murata Manufacturing Co. Ltd, Analog Devices Inc., Robert Bosch GmbH, Schneider Electric SE, Honeywell International Inc., Eaton Corporation plc, and TE Connectivity Ltd are actively focusing on leveraging MEMS based motion sensors to expand their product portfolio and market share in the industry. The microfabrication process offers significant cost-benefit, high reliability, and high performance. Commonly available MEMS motion sensors in the market are accelerometer, magnetometer, and gyroscope.
Motion sensor is used for applications including vehicle alarm system, airbag system, wheel alignment system. Globally, the automotive industry has witnessed healthy growth during the historical period. According to International Organization of Motor Vehicle manufacturers (OICA), 95.1 million automobile vehicles including commercial and passenger vehicles were sold in 2018, and recorded a CAGR of 1.8% during the period 2014–2018. Further, shift in focus toward electric vehicles is further projected to fuel the growth of the global automotive industry. Thus, growing automobile industry is projected to drive the demand for motion sensors during the forecast period.
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The automobile category garnered largest share in the motion sensor market in 2019. This was due to rising demand for automobiles, primarily electric and autonomous vehicles across the globe. Motion sensor is expected to improve the autonomous driving experience, where it would enhance battery performance, electronic equipment stability detection, and navigation system.
APAC held the largest share in the motion sensor market in 2019. This can be mainly attributed to the high demand for motion sensors originating from China, primarily due to its dominance in the global manufacturing industry.
Among the major countries, the U.S. and China were the major markets, where it accounted for over 30% of the motion sensor market in 2019. The U.S. and China are credited as the largest consumer electronics and automobile markets, and this phenomenon has bolstered the demand for motion sensors. Also, in the motion sensor market, the prosperity of Chinese manufacturers can be due to the rise in demand for smartphones during the historical period, which is expected to mature in the coming years.
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In the MEA region, U.A.E. is projected to exhibit fastest CAGR in the motion sensor market during the forecast period. U.A.E. is exhibiting improvement in network connectivity infrastructure, along with propelling smartphone and internet penetration, especially among the urbanized populace. This is projected to drive the demand for consumer electronic products, therefore bolstering the demand for motion sensors in the country during the forecast period.
Motion sensor is fragmented and a mature market, wherein sensor technologies have evolved from microwave, ultrasonic, and PIR motion sensor to advanced technologies like MEMS, which includes accelerometer, gyroscope, and magnetometer. STMicroelectronics N.V., Analog Devices Inc., Robert Bosch GmbH, and NXP Semiconductors N.V., Schneider Electric SE, Panasonic Corporation, Honeywell International Inc., Eaton Corporation plc, Koninklijke Philips N.V., Murata Manufacturing Co. Ltd, and TE Connectivity Ltd., are the leading players in the market.
Factors like emergence of Industry 4.0, growing demand for autonomous and electric vehicles, security and surveillance systems, building automation equipment, medical devices, and others, is projected to drive the market in the coming years. This is further projected to intensify the competition among the market players during the forecast period.
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