The report "E-Compass Market
by Technology (Fluxgate, Hall Effect, Magnetoresistive), Type (1&2
Axis, 3 Axis, 6 Axis, 9 Axis), Application (Consumer Electronics,
Aerospace & Defense, Automotive, Surveying, Marine) and Geography -
Global Forecast to 2022", The e-compass market, in terms of
value, is expected to grow from USD 808.6 Million in 2015 to USD
2,187.1 Million by 2022, at a CAGR of 14.57% between 2016 and 2022. The
market, in terms of volume, is expected to grow from 1.60 Billion
units in 2015 to 4.45 Billion units by 2022, at a CAGR of 15.00%
between 2016 and 2022.
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Browse 67 market data tables and 58 figures spread through 144 pages and in-depth TOC on “E-Compass Market - Global Forecast to 2022”
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The increasing demand for wearable electronics such
as smart watches, fitness and sports trackers have created a huge demand
for e-compasses as these devices are, in general, equipped with
navigation functionality which has been made possible through the use of
e-compasses. The GPS-based navigation technologies are able to provide a
precise location only when they are in a range of GPS signals, however,
the tilt compensated e-compasses does not rely on the GPS signals and
continues to provide the right direction even in the absence of a GPS
signal, hence making them extremely useful specifically for applications
such as outdoor recreational sports.
Hall effect-based e-compass to hold the largest share of the e-compass market
The Hall effect-based e-compass is expected to hold
the largest market share and dominate the e-compass market between 2016
and 2022, owing to the their increasing adoption within consumer
electronics market which require low cost e-compass and compact sensors
in devices such as smart phones, tablet computers, gaming consoles, and
so on.
Consumer electronics application held the largest market share in 2015
The consumer electronics application is expected to
hold the largest market share and dominate the e-compass market between
2016 and 2022. The increasing penetration of wearable electronics and
usage of navigation-based mobile applications are creating a huge demand
for e-compasses within the consumer electronics segment.
APAC to hold the largest market share and grow at the highest rate during the forecast period
The APAC region is expected to hold the largest
market share and dominate the e-compass market between 2016 and 2022.
The high growth and the large market can be attributed to the virtual
monopoly of APAC in the manufacturing of consumer electronics, owing to
the presence of companies such as Samsung, Sony, LG, Huawei, Lenovo,
coupled with low-production costs, in terms of labor, has forced the
consumer electronics manufacturers in the other regions to outsource a
bulk of their manufacturing processes to countries such as China and
Taiwan.
Furthermore the rapid penetration of handheld “smart”
devices in the region is likely to continue during the forecast period;
also the region has one of the fastest-growing markets for automotive,
aerospace & defense which are the other key application markets for
e-compasses.
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The e-compass ecosystem comprises of chip designers
such as STMicroelectronics (France), mCube
(U.S.), MEMSIC (U.S.) and
MagnaChip (South Korea) among others; component manufacturers such as
NXP Semiconductors N.V. (Netherlands), Bosch Sensortec (Germany), Asahi
Kasei Microdevices (Japan), Honeywell (U.S.) among others; technology
providers such as InvenSense, Inc. (U.S.), Honeywell (U.S.), and Bosch
Sensortec (Germany), among others; and system integrators such as
TrueNorth Technologies (U.S.), Aichi Steel (Japan), among others who
integrate these e-compass sensors and sell them to end users to cater to
their unique business requirements.
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