Global MEMS Gyroscope Industry Report 2023: Market Trends, Share, Size, Growth, Opportunity and Forecast 2022-2028

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Sep 18, 2023, 13:00 ET

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 the rising 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:

How has the global MEMS gyroscope market performed so far and how will it perform in the coming years?
What are the key regional markets in the global MEMS gyroscope industry?
What has been the impact of COVID-19 on the global MEMS gyroscope industry?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global MEMS gyroscope industry and who are the key players?
What is the degree of competition in the market?

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being

Analog Devices Inc.
Seiko Epson Corporation
Honeywell International Inc.
InvenSense Inc.
Maxim Integrated Products Inc.
MEMSIC Inc.
Murata Manufacturing Co. Ltd.
NXP Semiconductors Co. Ltd.
Panasonic Corporation
Robert Bosch GmbH
ROHM Co Ltd.
Sony Corporation
STMicroelectronics International N.V.
Systron Donner Inertial Inc.
Trimble Inc.

Key Market Segmentation:

Breakup by Type:

Based on the type, turning fork segment currently account for the highest market share.

Turning Fork
Vibrating Disk
Vibrating Ring
Others

Breakup by Application:

Based on the application, mobile devices currently account for majority of the market share.

Mobile Devices
Cameras and Camcorders
Gaming Consoles
Others

Breakup by End-Use Industry:

Based on the end-use industry, consumer electronics currently account for the highest market share.

Consumer Electronics
Automotive
Aerospace and Defense
Industrial
Marine
Others

Breakup by Region:

On the geographical front, Asia Pacific currently represents the biggest market for MEMS gyroscope.

Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
North America
United States
Canada
Middle East and Africa
Turkey
Saudi Arabia
Iran
United Arab Emirates
Others
Latin America
Brazil
Mexico
Argentina
Colombia
Others

For more information about this report visit https://www.researchandmarkets.com/r/i8nwsg

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