Global MEMS Gyroscope Industry Report 2023: Market Trends, Share, Size, Growth, Opportunity and Forecast 2022-2028
The "MEMS Gyroscope Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
DUBLIN, Sept. 18, 2023 /PRNewswire/ -- The global MEMS gyroscope market has shown significant growth, reaching a size of US$ 1.9 billion in 2022 and is projected to expand further, potentially reaching US$ 2.8 billion by 2028, with a notable compound annual growth rate (CAGR) of 5.7% anticipated during the period from 2023 to 2028.
A MEMS gyroscope, short for micro-electro-mechanical system gyroscope, serves as a crucial mechanical device for measuring angular velocity and aiding in navigation. Its operation relies on the fundamental principle of momentum conservation and comprises a free-rotating disk mounted within a central spinning axis, situated within a larger and more stable wheel.
These devices find applications across various industries, including consumer electronics, automotive airbag systems, gaming consoles, virtual reality (VR), and robotics. In digital cameras, MEMS gyroscopes contribute to capturing high-resolution images with intricate details. Additionally, the integration of gyroscopes with MEMS technology has led to the development of miniaturized sensors that use microscopic vibrating mechanisms to detect changes in orientation and velocity.
The flourishing global electronics industry stands as a prominent driver fueling the market's growth. Furthermore, the increased adoption of smart and portable devices like smartphones, tablets, and laptops, which rely on MEMS gyroscopes for precise motion-sensing capabilities, plays a pivotal role in market expansion. Additionally, the device's favorable attributes, including low weight, cost-efficiency, compact size, and minimal energy consumption, make it an attractive choice for inertial navigation in various applications such as automobiles, sailing boats, aircraft, consumer electronics, military missiles, and satellites.
Moreover, extensive research and development (R&D) efforts aimed at enhancing the stability of MEMS gyroscopes for applications in targeting and pointing instruments contribute positively to market growth. Other factors, such as the increasing adoption of wearable devices and therising automation trends in both industries and residential complexes, are expected to further drive the market's growth.
The publisher's comprehensive report offers a profound insight into the global MEMS gyroscope market, encompassing critical aspects from a macro overview to micro details of industry performance. It covers recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, and more.
This report is indispensable for industry participants, investors, researchers, consultants, business strategists, and anyone with an interest in the MEMS gyroscope industry.
Key Questions Answered in This Report:
Key Market Segmentation:
Based on the type, turning fork segment currently account for the highest market share.
Based on the application, mobile devices currently account for majority of the market share.
Based on the end-use industry, consumer electronics currently account for the highest market share.
Breakup by Region:
On the geographical front, Asia Pacific currently represents the biggest market for MEMS gyroscope.
For more information about this report visit https://www.researchandmarkets.com/r/i8nwsg
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