Accelerometer Market – Snapshot
The accelerometer market in different regions across the world is undergoing a diverse phase. North America and Europe are mature regions of the global market, due to presence of better health care facilities and industries in these regions. On the other hand, developing countries in Asia Pacific and Middle East & Africa, which are undergoing modernization and adopting industrial automation to upgrade medical facilities, consumer electronics components, and industrial processes, are witnessing increase in the demand for accelerometers. This, in turn, is driving the global accelerometer market. The global accelerometer market is projected to expand at a CAGR of 4.6% during the forecast period and reach value of US$ 2,489.6 Mn by 2026.
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Growing adoption of micro electromechanical system (MEMS) accelerometers in high-end applications, led by their advantages such as enhanced performance, small size, and low power consumption, is expected to propel the global accelerometer market during the forecast period. Demand for accelerometers in the automotive industry is rising in order to improve performance, reduce costs, and enhance the reliability of automotive systems. Accelerometers offer an industry-standard method of detecting car crashes and deploying airbags at just the right time. They are used to detect rapid negative acceleration of the vehicle to determine when the collision had occurred. Incorporation of MEMS accelerometers into airbag control modules has virtually eliminated the use of costly switches in these modules, thereby driving the demand for accelerometers. MEMS accelerometers are used in applications ranging from mobile devices to cars. They are extensively employed in the consumer electronics sector. This factor would continue to drive the global accelerometer market during the forecast period.
However, the accelerometer market faces serious challenges due to low accuracy of accelerometers across certain industries. In complex systems such as satellites, space vehicles, and missiles, the inertial navigation system is used by combining it with accelerometers and a gyroscope. The data generated from accelerometers is not accurate, as its accuracy is dependent on the hardware used.
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Among end-use industries, the consumer electronics segment is expected to dominate the global accelerometer market during the forecast period, owing to high demand for MEMS accelerometers for use in mobile phones in order to provide image stability, shock detection, menu navigation, text scroll, gaming control, silent mode activation, and motion dialing. Automotive is the most rapidly expanding end-use industry segment of the market for accelerometers, followed by consumer electronics and others segments. One of the key uses of capacitive accelerometers in the automotive industry is to control the electronic stability control (ESC) systems through improving the vehicle stability by detecting and reducing loss of traction. This is expected to boost the demand for accelerometers during the forecast period. Among end-use industries, the automotive segment is expected to witness high investments during the forecast period. Furthermore, high demand for accelerometers in health care, industrial, aerospace, and automotive segments is expected to propel the market during the forecast period.
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Attracted by growth of the market and underlying latent demand, several players operating in the global accelerometer market are expanding their business through new product development, strategic mergers and acquisitions, and partnerships. In May 2017, CTS Corporation acquired Noliac A/S. Noliac A/S is a privately held company. It manufactures and designs tape cast and transducer as well as bulk piezoelectric materials for use in defense, medical, industrial, and telecommunication sectors. The acquisition is expected to expand product lines of the company and expand its business in Europe. Some of the prominent players operating in the global accelerometer market are Dytran Instruments Incorporated, Honeywell International, Inc., TE Connectivity, Kionix, Inc., Silicon Designs, Murata Manufacturing Co. Ltd., CTS Corporation, NXP Semiconductor, STMicroelectronics NV, Meggitt PLC, Safran SA, Northrop Grumman Corporation, Robert Bosch, Innalabs, and MTS System Corporation. Companies in the market are focusing on expanding their business through strategic acquisitions and partnerships with several end-use industries.
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