E-Compass Market Size, Share, Trends, Opportunities Analysis Forecast Report by 2026
The global E-Compass market was valued at USD 908.6 million in 2019 and is expected to surpass USD 4187 million by 2026, registering a CAGR of 15.2% during the forecast period (2020-2026), as highlighted in a report published by Facts & Factors.
The rising adoption of e-compass sensors in consumer electronics is driving the global e-compass market.
An e-compass is a type of electronic device that uses the earth’s magnetic field to determine the user’s geographic direction. This equipment is integrated with microelectromechanical systems and can also be used as a magnetometer and accelerometer. This is a technology that combines nanoscale, nanotechnology, and nanoelectromechanical systems. E-compass provides precision as well as directional information for positioning devices. It can be useful in a variety of applications such as military, transportation, construction, industry, and personal.
Click here to read the complete article: https://www.fnfresearch.com/e-compass-market
E-Compass has numerous applications in various industries. Electronics portable devices can deploy e-compass sensors and serve as navigational tools. The market has been boosted by the high sales of tablets, smartphones, and wearable devices. The production of low-power, compact new e-compass sensors has grown in popularity and is widely used. For better results, industries such as aerospace and surveying rely on high-quality e-compass sensors. To meet the demand for the optical interconnect market, the key players in the e-compass market have implemented various business strategies such as developments, new product launches, partnerships, geographic expansion, collaborations, acquisitions, and mergers.
The global demand for minerals will drive the global e-compass market. In addition, the consumer electronics industry is expanding rapidly, with tablets, smartphones, and wearable devices increasing demand for the e-compass market. The increase in urbanisation, increase in disposable income, and change in people’s lifestyles will all contribute to the growth of the e-compass market. The widespread use of magneto-resistive e-compass sensors will also contribute to the global expansion of the e-compass market. Another factor that could create lucrative opportunities in the coming years is the use of e-compass in unmanned aerial vehicles and autonomous underwater vehicles around the world.
The e-compass market can be divided into sensor type, technology, application, and region. The market can be divided into 1 & 2 axis, 3 axis, 6 axis, and 9 axis sensors based on the type of sensor. The market is divided into fluxgate, hall effect, magneto resistive, and other technologies. Furthermore, the e-compass market can be divided into consumer electronics, marine, surveying, automotive, aerospace & defence, and others based on application. In terms of location,
Because of the high volume of manufacturers in the consumer electronics sector, particularly in China, Asia Pacific is expected to hold the majority of the market. North America will have a significant share after Asia Pacific due to the region’s high growth in wearable devices and high adoption of technological advancements.
Some of the leading players in the global market include
STMicroelectronics, Asahi Kasei Microdevices Corporation, Honeywell International, MagnaChip Semiconductor, Aichi Steel, Oceanserver Technologies, Bosch Sensortec, NXP Semiconductors N.V., InvenSense, Inc., mCube Inc., TrueNorth Technologies, PNI Sensors Corporation among others.
The taxonomy of the e-compass market by its scope and segmentation is as follows:
By Sensor Type Analysis
- 1 & 2 Axis
- 3 Axis
- 6 Axis
- 9 Axis
By Technology Analysis
- Flux Gate
- Hall Effect
- Magneto Resistive
By Application Analysis
- Consumer Electronics
- Aerospace & Defense
By Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.