Multi-Axis Sensor Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 23.62 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Multi-Axis Sensor Market Analysis
The multi-axis sensor market was valued at USD 0.61 billion in 2020, and is expected to reach a value of USD 2.14 billion by 2026, registering a CAGR of 23.62 % over the forecast period of 2021-2026. The increase in technological advancement is driving the multi-axis sensor market.
- The advancements in technology enabling effective components at a lighter and smaller size, the swift rise of unmanned vehicles in both the defense and civil applications, and the increasing applications based on motion sensing are the factors driving the multi-axis sensor market.
- The increase in adoption of applications based on motion sensing is expected to drive the multi-axis sensor market. However, complexity in integrating them within the existing systems is restraining their adoption.
- Nevertheless, a high-performance sensor fusion to improve the accuracy of multi-axis sensor systems (in order to enable the newly emerging and highly-demanding applications, such as indoor navigation and location-based services like IoT, and location-based services) is expected to offer significant growth potential to the market.
Multi-Axis Sensor Market Trends
This section covers the major market trends shaping the Multi-Axis Sensor Market according to our research experts:
Incorporation of MEMS Sensors in Consumer Electronics Segment to Drive the Market
- The introduction of micro electro mechanical systems (MEMS) has benefited the consumer electronic devices, like smartphones and tablets. With the consumer electronics witnessing rapid growth, the worldwide MEMS market has entered the high growth phase.
- MEMS often encompass accelerometers, gyroscopes, and microphones. While high-end smartphones and tablets continue as the primary markets for multi-axis sensors, the wearable devices, gaming, navigation, imaging, and virtual reality headsets are rapidly gaining popularity.
- MEMS sensors are also quickly becoming the expected features in the portable and handheld consumer electronics devices, given the number of ways it can enhance usability.
- For instance, the ability to sense tilt, rotation, and gestures is becoming a standard feature of gaming peripherals. The portable devices are using MEMS to determine the direction for displaying text and images, so that the users can view them from the right angle. Multi-axis MEMS sensors are hence adopted in consumer electronics to fulfill these requirements.
North America Account for Significant Market Share
- Owing to its technologically advanced industries and propelling consumer electronics industry, North America dominates the market. The US accounts for the major share in the North American market, owing to the increasing smartphone and gaming consoles' penetration in the country.
- Moreover, the increasing investments in the defense sector are also creating a need for gyroscopes and IMUs (Inertial Measurement Unit).
- In addition, the high-performance inertial sensors and systems are the dynamic market segments, as an ever-increasing number of platforms require stabilization, guidance, or navigation functions.
- Thus, with the increased defense expenditure, the technological developments can lead to innovations in various sensors.
Multi-Axis Sensor Industry Overview
The major players include Honeywell International, L3 Communications, Parker Hannifin, Trimble Navigation, STMicroelectronics, and Interface Inc, among others. The market is fragmented because of the high competition among the players. Therefore, the market concentration is expected to be low.
- December 2018 - BCM'smulti-grid strain gauges for multi-axis force/torque sensor were used for the robots for modern manufacturing purpose. Hence, BCM Sensor'sModel 8691 providedthe compact and customized metal foil strain gauges for multi-axis sensors applications.
Multi-Axis Sensor Market Leaders
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Honeywell International Inc.
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Parker Hannifin
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L3 Communications
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Trimble Navigation Ltd
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STMicroelectronic
*Disclaimer: Major Players sorted in no particular order
Multi-Axis Sensor Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Introduction to Market Drivers and Restraints
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4.3 Market Drivers
- 4.3.1 Technological Advancements Giving Rise to Innovative Products
- 4.3.2 Increasing Applications Based on Motion Sensing
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4.4 Market Restraints
- 4.4.1 Complex Nature of Integration in Existing Systems and Need for Ancillary Components
- 4.5 Value Chain / Supply Chain Analysis
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4.6 Industry Attractiveness - Porter's Five Force Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 MEMS Gyroscopes
- 5.1.2 MEMS Accelerometers
- 5.1.3 Digital Compass
- 5.1.4 Motion Sensor Combos
- 5.1.5 Other Types
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5.2 By Application
- 5.2.1 Consumer Electronics
- 5.2.2 Automotive
- 5.2.3 Aerospace and Defense
- 5.2.4 Medical and Healthcare
- 5.2.5 Industrial
- 5.2.6 Other Applications
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5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 Latin America
- 5.3.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Honeywell International Inc.
- 6.1.2 Parker Hannifin
- 6.1.3 L3 Communications
- 6.1.4 Trimble Navigation Ltd
- 6.1.5 STMicroelectronic
- 6.1.6 Interface Inc.
- 6.1.7 Moog Inc.
- 6.1.8 Jewell Instruments LLC
- 6.1.9 HBM Inc.
- 6.1.10 Aeron Systems
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityMulti-Axis Sensor Industry Segmentation
the multi-axis sensors with a single load cell can measure multiple forces and moments simultaneously. These sensors provide multiple bridges to measure the applied force or torques along the multiple vector axes precisely from one direction with a little force or moment.
| By Type | MEMS Gyroscopes |
| MEMS Accelerometers | |
| Digital Compass | |
| Motion Sensor Combos | |
| Other Types | |
| By Application | Consumer Electronics |
| Automotive | |
| Aerospace and Defense | |
| Medical and Healthcare | |
| Industrial | |
| Other Applications | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East & Africa |
Multi-Axis Sensor Market Research FAQs
What is the current Multi-axis Sensor Market size?
The Multi-axis Sensor Market is projected to register a CAGR of 23.62% during the forecast period (2024-2029)
Who are the key players in Multi-axis Sensor Market?
Honeywell International Inc., Parker Hannifin, L3 Communications, Trimble Navigation Ltd and STMicroelectronic are the major companies operating in the Multi-axis Sensor Market.
Which is the fastest growing region in Multi-axis Sensor Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Multi-axis Sensor Market?
In 2024, the North America accounts for the largest market share in Multi-axis Sensor Market.
What years does this Multi-axis Sensor Market cover?
The report covers the Multi-axis Sensor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Multi-axis Sensor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Multi-axis Sensor Industry Report
Statistics for the 2024 Multi-axis Sensor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Multi-axis Sensor analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
