Accelerometers Market to Reach USD 18.15 Billion by 2028

Vantage Market Research

Nov 04, 2021

According to analysts at Vantage Market Research, the Accelerometers market is expected to reach USD 3.1 Billion by 2028, growing at a CAGR of 4.1% from 2021 to 2028. Increasing adoption especially in high-end applications of MEMS accelerometers, led by their benefits such as small size, improved performance, and reduced power consumption, is anticipated to fuel the accelerometer market globally during the coming few years.

Accelerometers Market Preview

  • The Analog Accelerometer is projected to expand at the fastest CAGR over the forecast period owing to the increasing adoption in the different industry.
  • Increase in demand of growth of aerospace industry and enhancing accuracy in navigation also driving the growth of the market.
  • Asia Pacific is expected to expand at a CAGR over 32% from 2021 to 2028. This surge is attributed to the rising demand for automated sortation systems in developing economies such as China and India.

Some of key players in surgical Accelerometers market are include Aeron, Honeywell, Ixblue, L3 Communications, Lord Microstain, MEMSIC, SBG Systems, Systron Donner, Inc., Trimble Navigation, Vectornav Technologies, among others.  The market is comprised of a high degree of competition due to the presence of numerous key players. Manufacturers are focusing on opting for various inorganic growth strategies such as acquisitions, mergers, and geographical expansion to leverage their market share and gain a competitive advantage.

Asia Pacific region is poised to record the highest CAGR, owing to the increasing demand in countries, such as India, China, and Japan, coupled with the growth of the region's overall robotics market. However, the advent of domestic versions has brought down the prices, which is expected to drive the deployment. North America has the highest share in the 2020.

Demand from automotive industry for accelerometers is increasing in order to reduce costs, enhance performance, and improve the authenticity of automotive systems. An industry-standard method of deploying airbags and detecting car crashes is offered by Accelerometers at just the right moment. They are also used to detect negative acceleration of the vehicle rapidly to determine when the collision had taken place. Increased population and new technological advancement propel the market growth.