21-Dec-2020 | Facts and Factors
Findings from Facts and Factors report “E-Compass Market By Sensor Type (1 & 2-axis, 3-axis, 6-axis, 9-axis), By Technology (Fluxgate, Hall-Effect, Magnetoresistive, Others), By Application (Consumer Electronics, Aerospace & Defense, Automotive, Marine, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global e-compass market was projected at around USD 908.6 million in 2019, and is expected to reach USD 4,187 million by 2026, growing at a CAGR of 15.2% during the forecast years.
Global E-Compass Market Is Powered By Rising in Adoption of E-Compass Sensors in Consumer Electronics
The type of electronic device which uses the earth’s magnetic field for determining the geographic direction of the user is termed an e-compass. It can also be used as a magnetometer and accelerometer and this equipment is integrated with microelectromechanical systems. This is a kind of technology that merges the nanoscale with nanotechnology and nanoelectromechanical systems. For the positioning devices, e-compass provides exactness as well as directional information for positioning purposes. It can be helpful in various applications like military, transportation, construction, industry, personal among others.
Browse the full “E-Compass Market By Sensor Type (1 & 2-axis, 3-axis, 6-axis, 9-axis), By Technology (Fluxgate, Hall-Effect, Magneto resistive, Others), By Application (Consumer Electronics, Aerospace & Defense, Automotive, Marine, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/e-compass-market
E-Compass has wide applications in industry verticals. The portable devices for electronics can deploy e-compass sensors, and act as navigational tools for it. The high sales for tablets, smartphones, wearable devices have boosted the market. The production of low power and compact new e-compass sensor has gained more popularity and is adopted widely. Verticals such as aerospace and surveying are dependent on high-grade e-compass sensors for better results. The key players of the e-compass market have adopted different business strategies like developments, new product launching, partnerships, geographic expansion, collaborations, acquisitions & mergers to fulfill the need for the optical interconnect market.
Top Market Players
Some of the leading and top companies in the e-compass market contain 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 high demands for minerals globally will boost the global e-compass market. Also, the consumer electronics industry is growing widely such as tablets, smartphones, wearable devices which will further increase the demand for the e-compass market. The rise in urbanization rate, rise in disposable income, change in lifestyle of people will also grow the market for e-compass. The high usage of e-compass sensors which are from magneto-resistive technology will also be responsible for the growth of the e-compass market globally. Another factor which can create lucrative opportunities in the coming years can be the usage of e-compass in the unmanned aerial vehicle as well as autonomous underwater vehicles worldwide.
The market for e-compass can be segmented based on sensor type, technology, application, and region. Based on the type of sensor the market can be bifurcated into 1 & 2 axis, 3 axis, 6 axis, and 9 axis. Based on technology, the market is bifurcated into fluxgate, hall effect, magneto resistive, and others. Further, based on the application the market for e-compass can be classified into consumer electronics, marine, surveying, automotive, aerospace & defense, and others. In terms of geography, Asia Pacific is expected to hold the majority of share because the high volume of manufacturers from the consumer electronics sector are based especially in China. After the Asia Pacific, North America will have a significant share due to the high growth in wearable devices, and high adoption of technological advancements in the region.
The taxonomy of the e-compass market by its scope and segmentation is as follows:
Global E-Compass Market: Sensor Type Analysis
- 1 & 2 Axis
- 3 Axis
- 6 Axis
- 9 Axis
Global E-Compass Market: Technology Analysis
- Flux Gate
- Hall Effect
- Magneto Resistive
Global E-Compass Market: Application Analysis
- Consumer Electronics
- Aerospace & Defense
Global E-Compass Market: Regional Segmentation Analysis
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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