DUBLIN--(BUSINESS WIRE)--The "Motion Sensor Market by Motion Technology (IR, Ultrasonic, Microwave, Dual Technology, & Tomographic), Application (Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, & Industrial), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Motion Sensor Market is Expected to Reach USD 9.3 Billion by 2025 from USD 5.7 Billion in 2019, at a CAGR of 8.3%.
Growing adoption of automation, rising demand from emerging economies, and increasing defense expenditure are among major driving factors for motion sensor market
This growth can be attributed to the growing trend of automation, increasing demand for motion sensors from emerging economies, and surging expenditure in defense. Factors restraining the growth of the motion sensor market are time-consuming manufacturing processes and high cost of motion sensors.
Other applications to grow at highest CAGR during the forecast period in the motion sensor market
Based on the application, the market for other applications is expected to grow at the highest CAGR during the forecast period. This is because of increasing demand from oil & gas and safety & security applications due to rapidly falling prices of motion sensors. Also, the other application segment is witnessing huge technological advancement, which has, in turn, created demand for motion sensors.
Europe to be the largest shareholder, whereas RoW to register the highest CAGR during the forecast period
The motion sensor market in Europe is expected to account for the largest share of the overall motion sensor market during the forecast period. Europe is emerging as the manufacturing hub for applications such as automotive and consumer electronics, which are also the major contributors to the growth of the motion sensor market. Therefore, Europe holds the leading position in this market. America is expected to hold the second-largest share of the motion sensor market during the forecast period. Growing industrial and home automation; emerging applications, such as augmented and virtual reality and IoT; and huge defense expenditure by the US government are the major factors driving this market.
Factors such as the growing trend of advanced wearables, increasing reliance on industries on IoT, and increasing production of unmanned vehicles are expected to generate opportunities for players in the motion sensor market.
- Huge Demand for Consumer Electronic Applications
- Emergence of Efficient, Economic, and Compact Mems Technology
- Growing Adoption of Automation in Industries and Home
- Rising Demand From Emerging Economies
- Increasing Expenditure for Defense Worldwide
- Highly Complex Manufacturing Process and Demanding Cycle Time
- Capital Intensive Applications
- Growing Demand for Wearable Electronics
- Commercialization of IoT
- Introduction of Advanced Consumer Applications
- Rising Demand for Unmanned Vehicles
- Increase in Fleet Size in Commercial Aviation
- Low Return on Investment
- Growing Level of Integration
- Analog Devices
- Bosch Sensortec
- Honeywell International
- IFM Electronic
- KVH Industries
- Microchip Technology
- Murata Manufacturing
- NXP Semiconductors
- Panasonic Electric Works
- Seiko Epson
- Sensata Technologies
- TDK InvenSense
- TE Connectivity
- Xsens Technologies
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