Global High-End Accelerometer Market to Grow at a CAGR of 4.2% During 2022 –2030

Introduction

Accelerometers can measure acceleration, vibration, tilt, and shock. Consequently, they are utilized in various applications, including industrial platform stabilizing systems. Major drivers driving the usage of high-end accelerometers include the development of sensor technology, the proliferation of smart devices, and the increasing adoption of these smart devices and sensor technologies across numerous end-user sectors. In addition, the rising adoption of MEMS technology has contributed significantly to expanding applications for high-end accelerometers by reducing their size and power consumption without sacrificing performance metrics.

Market Dynamics

Increasing Adoption of MEMS Technology to Drive the Global Market

In addition to gyroscopes, MEMS accelerometers are frequently utilized in inertial navigation systems, such as handheld GPS-enabled devices. In automobiles and other GPS-enabled equipment, inertial systems consisting of accelerometers and gyroscopes are often employed to track inertial sensors' position, direction, and velocity. In addition to gyroscopes, more than two accelerometers are utilized in many navigation systems. The rising demand for MEMS accelerometers results from the increased need for aerospace and defense navigation systems.

Moreover, future sensor-rich applications in the automotive industry, such as autonomous vehicles, drones, and AR/VR equipment, drive the demand for MEMS sensors. Due to the increasing number of sensors incorporated into vehicles, the automotive industry is anticipated to account for a sizable portion of the MEMS market over the coming years. With the increasing need for connected vehicles and the arrival of autonomous vehicles, it is anticipated that the number of sensors employed in vehicles will increase even more.

Technological Advancements in Navigation Systems Creates Tremendous Opportunities

Using unmanned aerial vehicles (UAV) for defense and surveillance has altered the environment for navigation system utilization. The evolution of effective navigation systems has been facilitated by the UAV's dynamic qualities and high precision in a short time. In addition, the widespread use of automation in the aerospace and defense industries and the expansion of industrial applications have facilitated the study of modifications to standard navigation systems. For navigational grade applications, high-end accelerometers include guidance systems, range finding devices, aeronautics, and stabilization units. During the takeoff and landing of UAVs, the embedded sensors may be subjected to severe accelerations and repeated shocks. ROVs operating underwater is likewise subject to tremendous pressure. An Inertial Measurement Unit (IMU) comprised of very accurate and stable sensors, 3-axis gyroscopes, and high-end 3-axis accelerometers with unbiased performances of approximately 1 mg are included to meet these issues.

Moreover, there is an increase in R&D expenditures for navigation systems, as many companies produce high-performance accelerometers for commercial usage and integrate them into multi-axis inertial navigation systems. In addition, the increasing demand for real-time information in various applications, ranging from the automobile industry to autonomous robotics, has led to a rise in the global usage of navigation systems. With the development of technology, these systems have evolved and provided different navigational services and facilities, generating a substantial service ecosystem around navigation technologies.

Regional Analysis

North America accounted for the largest market share and is estimated to grow at a CAGR of 3.4% during the forecast period. Companies in North America are investing in introducing improved and novel accelerometers, increasing the development of new high-performance accelerometers. The key factor fueling the expansion of high-end accelerometers in the United States is the increased spending by the U.S. defense on high-performance equipment. As market demand increases, regional companies invest in the market to obtain a competitive edge. The region has also seen an increase in the use of modern automobiles, which require high-end accelerometers with improved power-saving capabilities and an extended temperature range for non-critical automotive applications such as telematics, navigation, infotainment, and security. Thus, the market expansion is fueled by the causes mentioned above.

Europe is expected to grow at a CAGR of 4.2%, generating USD 88 million during the forecast period. In Europe, the participation of countries such as the United Kingdom, France, and Germany in geo seismic monitoring creates a substantial need to apply high-end accelerometers. In the United Kingdom, for instance, the British Geological Survey claimed that seismic monitoring aided in determining the amount of earthquake risk and designing accordingly. Automatic procedures are utilized to analyze the seismic signals recorded by German seismometer sites continuously and to disseminate the parameters of reported earthquakes immediately. Because high-end accelerometers can detect ultra-low-level, low-frequency vibrations associated with massive structures, foundations, and earth tremors, European nations are increasingly employing them for seismic monitoring. The region is also recognized as one of the world's largest crude oil refiners. Recent low crude oil prices have substantially raised the demand for expanding existing refineries and initiating new projects. In addition, several successful licensing rounds and potential discoveries significantly drive the examined market's expansion.

Increasing demand for unmanned vehicles, such as autonomous underwater vehicles (AUV), unmanned aerial vehicles (UAV), and remotely operated vehicles (ROV), in both civilian and military applications, has propelled the Asia-Pacific navigation system market. The defense industry has played a significant role in shaping the countries' use of accelerometers. In 2019, China's military expenditures reached around USD 253.49 billion, according to the most recent figures from SIPRI. In addition, the growing adoption of advanced technologies and rising defense budget expenditures in countries such as Japan, India, and South Korea present a tremendous opportunity for developing the high-end accelerometer market in the region.

Key Highlights

• The global high-end accelerometer market was valued at 250 million in 2021. It is expected to reach USD 350 million by 2030, growing at a CAGR of 4.2% during the forecast period (2022-2030).
• By application, the global high-end accelerometer marketis segmented into tactical, navigational, industrial, and automotive applications. The tactical applications segment accounts for the largest market share and is expected to grow at a CAGR of 3% over the forecast period.
• North America accounted for the largest market share and is estimated to grow at a CAGR of 3.4% during the forecast period.

Competitive Players

Competitive Players

The global high-end accelerometer market’s major key players are Secret SA, Safran Colibrys, Physical Logic AG, Innalabs Limited, Sensor AS, Tronics Microsystems (EPCOS), Bosch GmbH, Thales Group, Analog Devices, Honeywell International, STMicroelectronics NV, TE Connectivity Ltd.

Recent Developments

Market News        

• August 2022 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, released version 4.20 of its TouchGFX user-interface design software for STM32 microcontrollers. The latest updates include support for ST's new NeoChrom graphics accelerator, which is integrated with advanced MCUs such as the new STM32U5 series.
• July 2022 - STMicroelectronics released STM32Cube.AI version 7.2.0, the first artificial intelligence (AI) development tool by an MCU (microcontroller) vendor to support ultra-efficient deeply quantized neural networks.

Segmentation

Global High-End Accelerometer Market: Segmentation

By Applications

• Tactical Applications
• Navigational Applications
• Industrial Applications
• Automotive Applications

By Regions

• North America
• Europe
• Asia-Pacific
• Rest of the World