Accelerometers Market is Expected to Rise at a CAGR of 4.4% during 2021-2028
According to Vantage Market Research, the Global Accelerometers Market was valued at USD 2.14 Billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.4% between 2021 to 2028. Accelerometers are those devices that perform the function of measuring static, constant or dynamic acceleration. In the computational and engineering world the measurement of static acceleration along with programmable codes is prevalent and is used in wide range of applications such as for smartphones, laptops and other systems. It can be said that an accelerometer is an electromechanical device that is used for measurement of acceleration forces that acts on an object for monitoring the object's movement and position.
Increasing Adoption of Accelerometers to Spur the Market Growth
Increased adoption of accelerometers and its wide range of applications is boosting the market growth for accelerometers. Furthermore, the rise in installing of MEMS accelerometers, smaller size, less energy consumption and better performance is expected to drive market. Furthermore, these devices are used to determine when the collision occurred as it has the ability to detect negative acceleration and has various applications ranging from small mobile device to automobiles.
Whereas the major factor that is obstructing the accelerometers market growth is due to the workforce lacking skills and is because of not having proper protocols and standards. Moreover, in many industries the accelerometer faces challenge as it does not provide accurate results. Hence, poses serious problems for systems like space vehicles, missiles and Satellites and navigation systems. Additionally, the high maintenance cost is limiting the market growth for accelerometers.
The global accelerometers market in segmented on the basis of product, market of accelerometers is divided into 3axis, 2axis, and 1 axis. On the basis of applications, the market is divided into industrial, aerospace and defense, consumer electronics, automotive, and others.
North America region is expected to grow at a high rate over the coming years and is the dominating region. This is attributable to the technological advancements taking place in developing high performance accelerometers in this region. Moreover, increasing investments adds to the regional growth for accelerometers market.Some of the major players operating in the global accelerometers market includes Al Cielo, Robert Bosch, Honeywell, Rockwell Automation, NXP Semiconductors, Meggitt, Murata Manufacturing Safran Colibrys, TDK, STMicroelectronics, Northrop Grumman, Kearfott, and among others.
Browse the full Report - Accelerometers Market by Product (Analog Accelerometer, Digital Accelerometer) by Application (Aerospace & Defense, Automotive, Industrial, Consumer Electronics, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028