You are here

Global E-Compass Market To Be Driven By The Growing Demand For E-Compasses To Support GPS Technology In End-Use Sectors In The Forecast Period Of 2022-2027

The new report by Expert Market Research titled, ‘Global E-compass Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global e-compass market, assessing the e-compass market based on its segments like technologies, applications, sensor types, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

Get a Free Sample Report with Table of Contents –

The key highlights of the report include:

Market Overview (2017-2027)

• Historical Market Size (2020): About USD 1.6 billion
• Forecast CAGR (2022-2027): 15%
• Forecast Market Size (2026): Nearly USD 3.7 billion

The global market for e-compass is being driven by rising application in end-use sectors such as aerospace, defence, automotive, marine, construction, and consumer electronics, among others. The consumer electronics application segment of e-compass is significantly contributing to the growing market. This can be associated with the rising integration of digital compasses in smartphones, smartwatches, and tablets, among others. In addition, e-compasses in consumer electronics eliminate the need to carry an additional device, thereby making digital compasses more accessible, hence contributing to the market growth. Furthermore, e-compasses provide directional information, which is essential to support the GPS technology in smartphones and vehicular entertainment systems.

Industry Definition and Segmentation

An e-compass refers to a digital device that uses the earth’s magnetic field to allow the determination of direction to the users. A magnetometer, tilt sensors, optional accelerometers, and gyros make up an electronic compass.

Read Full Report with Table of Contents –

On the basis of technology, the market can be classified into:

• Fluxgate
• Hall-Effect
• Magnetoresistive
• Others

The market, based on application, can be divided into:

• Consumer Electronics
• Aerospace and Defence
• Automotive
• Marine
• Surveying
• Others

Based on sensor type, the market can be segmented into:

• 1 and 2-Axis
• 3-Axis
• 6-Axis
• 9-Axis

The regional markets for e-compass include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Trends

The growth in the global market for e-compass is anticipated to be driven by applications in the aerospace and defence sector. This can be associated with surging air traffic on account of the flourishing airline industry. The rising demand for GPS technology to navigate routes in passenger, cargo, and military aircraft is likely to propel the market. In addition, the rising advancements in UAV and AUV technology is another factor projected to fuel the market growth during the forecast years. Moreover, rising investments by governing agencies into the enhancements of the defence sector in major developed and developing countries is expected to have a positive impact on the market in the coming years.

Key Market Players

The major players in the market are Asahi Kasei Microdevices Corporation, Robert Bosch GmbH, NXP Semiconductors N.V, Honeywell International Inc., Garmin Ltd., and STMicroelectronics N.V., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

Media Contact

Company Name: EMR Inc.
Contact Person: Mathew Williams, Business Consultant
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
City: Sheridan
State: Wyoming
Country: United States

Also, Check Procurement Intelligence which provides you Infallible research solutions.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.