The micro-electromechanical systems (mems) gyroscopes global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Micro-Electromechanical Systems (MEMS) Gyroscopes Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The micro-electromechanical systems (MEMS) gyroscopes market size has grown strongly in recent years. It will grow from $2.17 billion in 2023 to $2.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to demand for consumer electronics, growth of automotive applications, emergence of wearable devices, cost reduction.
The micro-electromechanical systems (MEMS) gyroscopes market size is expected to see strong growth in the next few years. It will grow to $3.30 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to expansion of IoT applications, growth in wearable health tech, autonomous vehicles and robotics, regularity compliance. Major trends in the forecast period include ultra-miniaturization, enhanced performance, multi-axis gyroscopes, low-power designs, sensor fusion, advanced calibration techniques.
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Scope Of Micro-Electromechanical Systems (MEMS) Gyroscopes Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Micro-Electromechanical Systems (MEMS) Gyroscopes Market Overview
Market Drivers –
The rising production of automotive vehicles is expected to propel the growth of the micro-electromechanical systems (MEMS) gyroscope market going forward. Automotive vehicles are self-propelled vehicles designed primarily for road, street, and highway transportation. It arises because of advancements, environmental regulations, and consumer preferences. Micro-electromechanical systems gyroscopes are used for automotive vehicles to enhance rotational motion and orientation’s safety, performance, and functionality. For instance, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturer association, the global production of motor vehicles reached 85.4 million units in 2022, reflecting a notable increase of 5.7% compared to 2021. Therefore, the rising production of automotive vehicles is driving the growth of the micro-electromechanical systems (MEMS) gyroscope market.
Market Trends –
Major companies operating in micro-electromechanical systems (MEMS) gyroscopes are focusing on the development of innovative advancements such as the IAM-20380HT, a monolithic stand-alone MEMS gyroscope, to cater to the growing demand for highly accurate and reliable gyroscopes in automotive applications. This gyroscope is a single integrated circuit that includes the MEMS gyroscope and the necessary electronics for operation. For instance, in November 2022, TDK Corporation, a Japan-based electronics manufacturer, launched the world’s first monolithic stand-alone MEMS gyroscope, the IAM-20380HT, for non-safety automotive applications. It is designed to operate over a wide temperature range and deliver reliable and highly accurate measurement data for various automotive non-safety applications, such as navigation, vehicle tracking, telematics, door control, and vision systems. It also features adjustable bandwidth, a selectable scale, sleep mode, a compact size, high accuracy, and advanced functionality while offering high precision, reliability, and versatility in a compact and efficient design.
The micro-electromechanical systems (MEMS) gyroscopes market covered in this report is segmented –
1) By Type: Vibrating Wheel, Tuning Fork, Foucault Pendulum, Wine Glass Resonator, Other Types
2) By Application: Mobile Devices, Cameras And Camcorders, Gaming Consoles, Other Applications
3) By End-Use Industry: Consumer Electronics, Automotive, Aerospace And Defense, Industrial, Marine, Other End Use Industries
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Regional Insights –
North America was the largest region in the micro-electromechanical systems (MEMS) gyroscopes market in 2023. The regions covered in the micro-electromechanical systems (mems) gyroscopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the micro-electromechanical systems (MEMS) gyroscopes market are Robert Bosch GmbH, Panasonic Corporation, Honeywell International Inc., Texas Instruments Incorporated (TI), STMicroelectronics N.V., NXP Semiconductors, Murata Manufacturing Co. Ltd., Analog Devices Inc., Seiko Epson Corporation, Qorvo Inc., Sensata Technologies, Knowles Corporation, Xsens Technologies B.V., InvenSense, MEMSIC Inc., KIONIX Inc., Silicon Sensing Systems Ltd., Systron Donner Inertial, Tronics Microsystems, Sensonor AS, Vesper Technologies, Inc., Colibrys Ltd., MicroStrain Inc., VTI Technologies, MemsTech Co., Ltd.
Table of Contents
1. Executive Summary
2. Micro-Electromechanical Systems (MEMS) Gyroscopes Market Report Structure
3. Micro-Electromechanical Systems (MEMS) Gyroscopes Market Trends And Strategies
4. Micro-Electromechanical Systems (MEMS) Gyroscopes Market – Macro Economic Scenario
5. Global Micro-Electromechanical Systems (MEMS) Gyroscopes Market Size and Growth
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32. Global Micro-Electromechanical Systems (MEMS) Gyroscopes Market Competitive Benchmarking
33. Global Micro-Electromechanical Systems (MEMS) Gyroscopes Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Micro-Electromechanical Systems (MEMS) Gyroscopes Market
35. Micro-Electromechanical Systems (MEMS) Gyroscopes Market Future Outlook and Potential Analysis
36. Appendix
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