Global E-Compass Market

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.

Market Overview:

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.

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Industry Drivers:

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.

Segmental Overview:

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,

Regional Overview:

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
Others

By Application Analysis

Consumer Electronics
Automotive
Marine
Aerospace & Defense
Others

By Regional Segmentation Analysis

North America
- The U.S.
- Canada
Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa

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