Accelerometers are devices that measure proper acceleration. They are small, lightweight electro-mechanical devices that measure acceleration forces such as tilt, vibration, shock, and falling. Accelerometers have applications in safety systems, automotive airbags, crash detection devices, navigation, human-machine interaction, and countless Internet of Things(IoT) devices. The automotive sector uses accelerometers in advanced driver assistance systems (ADAS) due to increasing demand for safety systems. Growing adoption of IoT devices worldwide and increasing investments in developing advanced driver assistance systems and autonomous vehicles will drive accelerometer market growth.
The accelerometer market is estimated to be valued at USD 3.16 Billion in 2024 and is expected to reach USD 4.98 Billion by 2031, growing at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Key Takeaways
Key players like Analog Devices, NXP Semiconductors, and STMicroelectronics are investing in developing advanced MEMS-based accelerometers with improved accuracy and lower power consumption to capitalize on growing demand from IoT and automotive sectors.
Accelerometers find growing demand in applications like tilt sensing, free-fall detection, activity/motion recognition wearables, drones, augmented/virtual reality, and automated guided vehicles due to their small size, low cost, and real-time measurements.
The Accelerometer Market leading players are focusing on miniaturization and development of system-in-package and system-on-chip solutions integrated with accelerometers, gyroscopes, magnetometers, and pressure sensors to enable sensor fusion in advanced applications.
Market Trends
3D accelerometers that can detect motion in three dimensions instead of a single axis are gaining traction in applications like gesture recognition, dead reckoning navigation, and fall detection. Major players like STMicroelectronics, Bosch, and Kionix offer various 3D accelerometer ICs and modules.
Wafer level packaging technologies enable the production of smaller and thinner accelerometer sensors, reducing costs. Players like Bosch and TDK are deploying wafer level packaging to manufacture MEMS accelerometers for consumer electronics and IoT devices.
Market Opportunities
Growing demand for wearable devices, hearables, and electronic fitness trackers offers opportunities for MEMS accelerometer vendors to supply low-power accelerometers as a key component.
Increasing adoption of assistive technologies and smart home/building solutions for the elderly and disabled population creates scope for developing accurate 2D and 3D motion tracking accelerometers.
Impact of COVID-19 on Accelerometer Market Growth
The COVID-19 pandemic has adversely impacted the accelerometer market. During the initial months of the pandemic in 2020, lockdowns were imposed worldwide which disrupted the supply chain and halted production activities. This led to a substantial decline in demand from end-use industries like consumer electronics, automotive, industrial, aerospace & defense and healthcare.
As people stayed home due to lockdowns and work-from-home trends increased globally, demand from the consumer electronics segment was severely hit. Industries that use accelerometers like automotive, aerospace also witnessed a slump in production volumes. Many factories had to temporarily shut down operations causing a shortage.
However, as lockdowns eased in late 2020 and economies gradually reopened, demand started recovering. The work-from-home trend boosted sales of laptops and tablets where accelerometers are used. The healthcare sector leveraged accelerometers for remote patient monitoring solutions. Demand from other areas like automation, IoT is also driving growth.
North America Region Concentrates Highest Value Share for Accelerometer Market
The North American region holds the highest value share in the global accelerometer market owing to extensive research and development activities. Countries like the U.S. and Canada have a strong industrial base with major players developing innovative accelerometer-based solutions.
The region is an early adopter of advanced technologies and has shown high acceptance of MEMS devices. Sectors like consumer electronics, automotive, industrial and healthcare contribute significantly to regional demand. Favorable government regulations along with the presence of testing facilities and manufacturing hubs have augmented the region’s position.
Asia Pacific Emerging as the Fastest Growing Regional Market
The Asia Pacific region has emerged as the fastest growing regional market for accelerometers globally. With rising industrialization and urbanization, sectors utilizing accelerometers have witnessed rapid expansion. Countries like China, India, Japan and South Korea are major manufacturing hubs.
Growing electronics and semiconductor industries in the region boost the usage of accelerometers. Additionally, improving living standards and rising disposable incomes are propelling sales of consumer electronics. Initiatives towards developing smart cities and expanding automation is creating lucrative opportunities. Hence, the Asia Pacific market is set to exhibit the highest CAGR over the forecast period.
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