Global E-Compass Market was valued US$ XX Bn in 2019 and is expected to reach XX Bn by 2027, at a CAGR of 15.10 % during a forecast period.
Increasing adoption of the e-compass in consumer electronics like smartphones, tablets, and wearable devices, growing disposable income, rapid urbanization, and changing consumer’s lifestyle across the globe are responsible driving factors behind the global E-Compass market growth, Additionally, growing usage of e-compasses in the autonomous underwater vehicles and unmanned aerial vehicle systems is projected to open new growth opportunities in the global E-compass market during the forecast period. Furthermore, GPS technology is directing globally in the automotive and advanced consumer electronics products, which limit the global E-Compass market growth.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis
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The Hall effect-based e-compass sensors are expected to share significant growth in the global E-compass market. The Hall effect sensors most widely used because of its much economical in terms of cost and have been miniaturizing in the form of ICs for a long time. Furthermore, magnetoresistive e-compass sensors are projected to grow at the XX % rate of CAGR during the forecast period. Magnetoresistive e-compass sensors are enormously accurate but much more costly over Hall effect-based e-compass. This type of sensors required in the high precision navigation in sectors like automotive, which increase the magnetoresistive e-compass sensors at a rapid growth in adoption.
The 1- and 2-axis e-compass sensors are expected to lead the global E-Compass market during the forecast period. These sensors are used in critical sectors like aviation, defense, and marine for their operation. Huge investment in research and development and constant need for upgradation to superior equipment is expected to drive a 1- and 2-axis e-compass sensors segment.
The adoption of e-compass sensors in consumer electronics devices like smartphones, tablets, and wearables are expected to drive the global e-compass market. The e-compass sensors are an equipped fit for the navigation systems installed in the transportable electronic products. The miniaturization of the sensor packages to be competently integrated into the portable electronics products, which is expected to boost the market growth.
Geographically, the Asia Pacific region is projected to be a leading region in the global e-compass compass market. The leading position in the market is attributed to the presence of the many consumer electronics buyers of digital compass antennas. The demand for these sensors is increasing the adoption of mobile electronics products. Additionally, the demand for directional sensors in consumer electronics is growing progressively. These factors are expected to increase the demand for e-compass sensors.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the Global E-Compass Market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global E-Compass Market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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The Scope of the Report for Global E-Compass Market
Global E-Compass Market, By Technology
• Fluxgate
• Hall Effect
• Magnetoresistive
• Others
Global E-Compass Market, By Application
• Consumer Electronics
• Aerospace & Defense
• Automotive
• Marine
• Surveying
• Other Applications
Global E-Compass Market, By Sensor Type
• 1-Axis and 2-Axis Sensors
• 3-Axis Sensors
• 6-Axis Sensors
• 9-Axis Sensors
Global E-Compass Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global E-Compass Market
• Asahi Kasei Microdevices Corporation
• Bosch Sensortec GmbH
• ST Microelectronics N.V.
• PNI Sensors Corporation
• Truenorth Technologies Ltd.
• Mcube Inc.
• Magnachip Semiconductor
• Aichi Steel Corporation
• Honeywell International Inc.
• NXP Semiconductors N.V.
• Invensense Inc.
• Memsic Inc.
• Oceanserver Technologies Inc.
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