According to AllTheResearch’s analysis, the global 3-axis accelerometer market ecosystem was valued at US$ 937.4 Mn in 2019 and is expected to reach US$ 1,494.1 Mn by 2027, growing at a CAGR of 6.0% during the forecast period. The 3-axis accelerometer is a very low-cost sensor with superior performance and is used mainly in gaming consoles and handheld applications. Moreover, these are the sensors with highest performance and lowest noise, highest sensitivity accuracy, and best temperature stability. These features help in applications such as imaging, navigation, and augmented reality, with the best user experience.
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The coronavirus outbreak has severely impacted the supply chain across manufacturing industry. There is inadequate supply of smartphones, laptops, and wearables, which is impacting the 3-axis accelerometer market ecosystem. Additionally, the prices of all products are expected to rise owing to a shortage in the supply of these products, which will hinder the overall market demand for 3-axis accelerometer market ecosystem.
3-axis accelerometers are suitable for applications where a high-performance angular motion sensor is needed. These sensors support a wide range of applications including Image Stabilization, Motion UI, and Sports. Market players are trying to introduce high performance accelerometers for low performance applications such as wearables, toys, gaming consoles, and others. For instance, in September 2019, mCube introduced MC3419 and MC3479 high performance integrated digital output 3-axis accelerometers. These devices have been improved for the latest generation of consumer products and smartphones. They can be utilized to implement activity tracking, user interface, and power management functions that are being used in the latest devices.
Companies are investing in various technologies to make advancements in 3-axis accelerometers market ecosystem for various applications. In January 2019, Bosch Sensortec introduced the BMI270, an ultra-low power smart IMU made for wearable applications. It extends the system’s battery life by handling recognition functions, activity tracking, and gesture step counting, independently of the main system processor. Smart IMUs also provide a strong and better-quality sensitivity performance and accelerometer offset that is allowed by the new Bosch MEMS process technology.
The hearables application segment is the fastest growing segment with a CAGR of 6.6% during the forecast period. The demand for hearables is rising gradually with the global shipments of 33.44 million hearables in 2018, which is expected to boost the market demand for 3-axis accelerometer market ecosystem. Moreover, smartphones dominated the market with a share of 20.63% in 2019, owing to rising advancements in mobile phone technologies and higher adoption rate among consumers.
Global 3-Axis Accelerometer Market Ecosystem:
The global 3-axis accelerometer market ecosystem for wearable (pedometer) was valued at US$ 139.9 Mn in the year 2019 and is expected to reach US$ 229.8 Mn by 2027, growing with a CAGR of 6.4% during the forecast period. These are used in wearables to calculate the user’s motion state by using a walk or run mode switching algorithm. The use of a 3-axis accelerometer in pedometer automatically helps users in detecting and measuring their exercise cycle and in alleviating the defects of 3D and generic mechanical pedometers.
The increasing use of fitness monitors in outdoor recreation is driving the demand for 3-axis accelerometer market ecosystem in the wearable segment. The U.S. ‘Food and Drug Administration’ has announced ‘The Digital Health Software Precertification Program’ to offer a completely new regulatory model to assess wearables, sensors, software, and smartphone apps for health monitoring and diagnosis. This will further accelerate the market demand for 3-axis accelerometer sensors.
For analyzing the 3-axis accelerometer market ecosystem, we have studied various trends that are impacting the market and also the interconnected markets. Our Interconnectivity module focuses on the key nodes of heterogeneous markets in detail. Artificial Intelligence, Internet of Things, Autonomous Vehicles, and 3D printing markets are some of our key researched markets.