A significant rise in the number of unmanned vehicles and the growing demand for wearable electronics are projected to accelerate the growth of the global accelerometer market in the next few years. Moreover, the advent of the advanced consumer application is predicted to support the growth of the market and attract new players to enter the market in the coming few years.
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The growing demand from the consumer electronics industry and the rising adoption of automation in homes and industries are the key factors that are projected to enhance market growth in the next few years. Moreover, the increasing expenditure of defense is likely to accelerate the growth of the overall market in the near future. On the flip side, the capital-intensive applications and the low return on investments are projected to hamper the growth of the market in the near future. Nonetheless, the commercialization of Internet of Things is likely to offer promising growth opportunities for market players in the next few years.
Among the key regional segments, North America is projected to maintain its leading position in the next few years, thanks to the rising technological advancements. In addition to this, the presence of a large number of players is another major factor that is predicted to support market growth in coming years. Furthermore, Asia Pacific is estimated to witness high growth in the next few years. The strong growth of this region can be attributed to the rising number of automobiles and the growing contribution from India, Japan, and China.
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The global accelerometer is fragmented in nature with a large number of players operating in it across the globe. Technological advancements and innovations in the market are predicted to offer lucrative opportunities for players in coming years. Some of the key players operating in the accelerometer market across the globe are PCB Piezotronics, Murata Manufacturing, Silicon Designs, Mindsensors, Honeywell International Inc., Robert Bosch GmbH, Meggitt Inc., Kionix Inc., Safran Colibrys SA, Innalabs, and Hansford Sensors.