The North America Accelerometer & Gyroscope Market would witness market growth of 4.5% CAGR during the forecast period (2022-2028).
Accelerometers are found in a wide range of consumer electronics. For example, Apple’s iPhone 3GS was one of the first smartphones to utilize it, with the addition of features like the compass application and shake to undo. In an airplane, a gyroscope can be used to help indicate the rate of rotations around the roll axis. The gyroscope would measure non-zero values when an aircraft rolls until the platform levels out, at which point, it would read a zero value in order to identify the direction of down. The altitude indicator on ordinary aircraft is the best illustration of reading a gyroscope.
The accelerometer and gyroscope industry is expected to increase as a result of factors such as rising defense spending around the world and increasing demand from the consumer electronics sector. A position scaling interface circuit is used with MEMS accelerometer sensors to measure the motion of a mass. An analog-to-digital converter tool converts the measurement into a digital electrical signal for digital processing. Because of the Coriolis acceleration, gyroscopes monitor both the movement of the resonating mass along with its frame. The demand for shopper electronics has increased over time. Nearby, the number of vehicles on the road is gradually increasing, and as a result, the accelerometer and gyroscope market is rapidly growing.
In North America, the accelerometer and gyroscope market is being driven by strict government requirements governing passenger safety and the rapidly increasing automotive and aerospace industries. The advent of information technology and the rising use of the Internet of Things (IoT) across a broad range of industrial, manufacturing, and automotive applications has given the region's commercial operations a new dimension. Furthermore, regional MEMS manufacturers aggressively explore manufacturing expansions in order to capitalize on the increasing potential. These factors would augment the growth of the regional market.
According to the National Health Expenditure Accounts, healthcare spending in the United States increased by over 4.6 percent in 2018 to USD 3.6 trillion, or USD 11,172 per person, accounting for 17.7% of GDP, indicating investment in addressing these trends, which is estimated to complement the MEMS sensor market demand.
The US market dominated the North America Accelerometer & Gyroscope Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $739.4 million by 2028. The Canada market is poised to grow at a CAGR of 6.9% during (2022 - 2028). Additionally, The Mexico market would display CAGR of 5.9% during (2022 - 2028).
Based on Type, the market is segmented into Accelerometer and Gyroscope. Based on Dimension, the market is segmented into 3-Axis, 2-Axis, and 1-Axis. Based on Industry Vertical, the market is segmented into Consumer Electronics, Automotive, Aerospace & Defense, Industrial, Healthcare, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Accelerometer & Gyroscope Market is Estimated to reach $3.6 Billion by 2028, at a CAGR of 5.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Analog Devices, Inc., STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Honeywell International, Inc., TDK Corporation (InvenSense, Inc.), Murata Manufacturing Co., Ltd., Northrop Grumman Corporation, Robert Bosch GmbH, and Rohm Semiconductors Co., Ltd. (Kionix, Inc.)
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