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The global e-compass market reached a value of about USD 2.44 billion in 2023. The industry is further expected to grow at a CAGR of about 15% in the forecast period of 2024-2032 to reach a value of around USD 8.55 billion by 2032.
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The Asia Pacific has been a significant regional market for e-compass during the historical period and is expected to continue its prominent presence in the market in the coming years as well. This is because a large number of consumer electronics manufacturers are located in the region. As the demand for portable electronic products increases, the demand for e-compass in the Asia Pacific region is also expected to see a significant growth. With growing manufacturing hubs for consumer electronics in the Asia Pacific region, emerging nations such as India and China are expected to drive the demand for the adoption of e-compass sensors owing to the low cost of manufacturing, cheap labour, and increasing demand for consumer electronics. As a result, the demand for directional sensors in consumer electronics is growing progressively. Moreover, increasing FDI and huge demand potential for e-compass sensors in the Asia Pacific region is expected to boost the growth of the e-compass industry and provide lucrative opportunities for many players.
A magnetometer, tilt sensors, and optional accelerometers and gyros make up an electronic compass or e-compass, which provides orientation and measurement in a growing number of applications. It provides mobile phones with an orientation in relation to the Earth's magnetic field.
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By technology, the market can be divided into:
Based on application, the market is segmented into:
On the basis of sensor type, the market is classified into:
The regional markets for e-compass can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The consumer electronics application segment is expected to hold a significant share in the e-compass industry, followed by automotive application, which is expected to grow at a rapid pace. The increasing adoption of e-compass in consumer electronics like smartphones, tablets, and wearable devices, growing disposable income, rapid urbanisation, and changing consumer lifestyles across the globe are the major driving factors behind the growth of the e-compass industry.
E-compass sensors are used in portable electronic devices primarily as a navigational tool. The adoption of these sensors has also been aided by the development of newer compact and low-power e-compass sensors with a higher degree of freedom. For more reliability, some applications, such as surveying and aerospace, have relied on higher-grade e-compass sensors. Additionally, the growing usage of e-compasses in autonomous underwater vehicles and unmanned aerial vehicle systems is projected to open new growth opportunities in the market. This rapid adoption of e-compass sensors in the critical sectors can be credited to the extensive research and development and constant need for upgrades to better equipment. Thus, the need for better access to technology and increasing demand for a simple user interface is propelling the growth of the e-compass industry.
The report gives a detailed analysis of the following key players in the global e-compass market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by Sensor Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market attained a value of approximately USD 2.44 billion.
The market is projected to grow at a CAGR of 15% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 8.55 billion by 2032.
The major drivers of the market include rising disposable income, rapid urbanisation, low cost of manufacturing, changing consumer lifestyles, and rising access to technology.
The rising adoption of consumer electronics and growing usage of e-compasses in autonomous underwater vehicles and unmanned aerial vehicle systems are the key trends propelling the growth of the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading technologies in the market include fluxgate, hall-effect, and magnetoresistive, among others.
The significant applications of e-compass in the market are consumer electronics, aerospace and defence, automotive, marine, and surveying, among others.
The leading sensor types in the market are 1 and 2- axis, 3-axis, 6-Axis, and 9-Axis.
The key players in the global e-compass market are Asahi Kasei Microdevices Corporation, Robert Bosch GmbH, NXP Semiconductors N.V, Honeywell International Inc., Garmin Ltd., and STMicroelectronics N.V., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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