Multi Axis Sensor Market Share, Opportunities, Industry 2031

Segments - Multi-axis Sensor Market by Types (Motion Sensor Combos, Digital Compass, MEMS Accelerometers, and MEMS Gyroscopes), Applications (Automotive, Aerospace & Defense, Industrial, Medical & Healthcare, and Consumer Electronics), and Region [Asia Pacific, North America, Latin America, Europe, and Middle East & Africa]–Global Industry Analysis, Growth, Shares, Size, Trends, and Forecast 2023-2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

Multi-axis Sensor Market Outlook 2031

The multi-axis sensor market size was USD 932.20 Million in 2022 and is anticipated to reach USD 6.28 Billion by 2031 expand at a significant CAGR 23.62% during the forecast period 2023–2031. Growth of the market is attributed to increasing application based on motion sensing, introduction of micro electro mechanical systems, and rapid growth in consumer electronic sector.

A multi-axis sensor is a device that can calculate forces in one plane. Multi-axis sensors can calculate directional forces, moments, and rotational forces around an axis. Multi-axis sensors are manufactured to calculate a several moments and forces all together with a single load cell sensor. These sensors deliver several bridges that specifically calculate force applied from one direction.

The Covid-19 pandemic affected the demand and supply of multi-axis sensor market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Multi-axis Sensor Market Trends, Drivers, Restraints, and Opportunities

Rise in applications of unmanned vehicles in civil and defense sector is projected to boost the market.
Increasing applications based on motion sensor is the major factor fueling the market.
Lack of awareness about the multi-axis sensor is projected to restrict the market expansion during the forecast period.
High price of sensors is anticipated to hamper the market growth in the coming years.
R&D investment and technological advancement in multi-axis sensor market is projected to offer lucrative opportunities for the market players.

Scope of Multi Axis Sensor Market Report

The report on the multi-axis sensor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Multi-axis Sensor Market –Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016-2021
Forecast Period	2023-2031
Segmentation	Types (Motion Sensor Combos, Digital Compass, MEMS Accelerometers, and MEMS Gyroscopes), Applications (Automotive, Aerospace & Defense, Industrial, Medical & Healthcare, and Consumer Electronics)
Geographical Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players covered in the Report	Aeron Systems; Jewell Instruments LLC; Interface Inc.; Trimble Navigation Ltd; Parker Hannifin; Honeywell International Inc.; L3 Communications; STMicroelectronic; Moog Inc.; and HBM Inc.

Multi Axis Sensor Market Segment Insights

The consumer electronics segment accounts for a key share of the market

Based on applications, the multi-axis sensor market is segregated into automotive, aerospace & defense, industrial, medical & healthcare, and consumer electronics. The consumer electronics segment accounts for a key share of the market. Growth of the market is attributed to increasing gaming console & smartphone penetration and increasing number of platforms.

However, the automotive segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing defense expenditure, increasing awareness regarding multi-axis sensors, and increasing usage of sensors in the development of smart cities.

Global Multi Axis Sensor Market Application

The MEMS gyroscopes segment accounts for a significant share of the market

Based on types, the market is divided into motion sensor combos, digital compass, MEMS accelerometers, and MEMS gyroscopes. The MEMS gyroscopes segment accounts for a significant share of the market. Growth of the market is attributed to rapid growth in automation sector and rise in adoption of automotive standards.

The MEMS accelerometer segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rise in application of multi-axis sensors in IOT sector, increasing per capita income, and stringent government regulation regarding safety.

North America is anticipated to hold major market share

On the basis of region, the multi-axis sensor market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is estimated to expand at a high CAGR during the forecast period due to significantly growing automotive industry and rapid urbanization.

The market of North America is anticipated to hold major market share due to growing focus towards vehicle safety, raising integration of position sensors with GPS, and the implementation of government regulations to increase fuel efficiency.

Segments

The multi-axis sensor market has been segmented on the basis of

Types

Motion Sensor Combos
Digital Compass
MEMS Accelerometers
MEMS Gyroscopes

Applications

Automotive
Aerospace & Defense
Industrial
Medical & Healthcare
Consumer Electronics

Region

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Aeron Systems
Jewell Instruments LLC
Interface Inc.
Trimble Navigation Ltd
Parker Hannifin
Honeywell International Inc.
L3 Communications
STMicroelectronic
Moog Inc.
HBM Inc.

Competitive Landscape

Key players competing in the multi-axis sensor market include Aeron Systems; Jewell Instruments LLC; Interface Inc.; Trimble Navigation Ltd; Parker Hannifin; Honeywell International Inc.; L3 Communications; STMicroelectronic; Moog Inc.; and HBM Inc.

Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.

Global Multi Axis Sensor Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Multi-axis Sensor Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Multi-axis Sensor Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Multi-axis Sensor Market - Supply Chain
  4.5. Global Multi-axis Sensor Market Forecast
     4.5.1. Multi-axis Sensor Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Multi-axis Sensor Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Multi-axis Sensor Market Absolute $ Opportunity
5. Global Multi-axis Sensor Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Multi-axis Sensor Market Size and Volume Forecast by Types
     5.3.1. Motion Sensor Combos
     5.3.2. Digital Compass
     5.3.3. MEMS Accelerometers
     5.3.4. MEMS Gyroscopes
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Multi-axis Sensor Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Multi-axis Sensor Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Multi-axis Sensor Demand Share Forecast, 2019-2026
7. North America Multi-axis Sensor Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Multi-axis Sensor Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Multi-axis Sensor Market Size and Volume Forecast by Types
     7.4.1. Motion Sensor Combos
     7.4.2. Digital Compass
     7.4.3. MEMS Accelerometers
     7.4.4. MEMS Gyroscopes
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Multi-axis Sensor Demand Share Forecast, 2019-2026
8. Latin America Multi-axis Sensor Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Multi-axis Sensor Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Multi-axis Sensor Market Size and Volume Forecast by Types
     8.4.1. Motion Sensor Combos
     8.4.2. Digital Compass
     8.4.3. MEMS Accelerometers
     8.4.4. MEMS Gyroscopes
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Multi-axis Sensor Demand Share Forecast, 2019-2026
9. Europe Multi-axis Sensor Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Multi-axis Sensor Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Multi-axis Sensor Market Size and Volume Forecast by Types
     9.4.1. Motion Sensor Combos
     9.4.2. Digital Compass
     9.4.3. MEMS Accelerometers
     9.4.4. MEMS Gyroscopes
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Multi-axis Sensor Demand Share Forecast, 2019-2026
10. Asia Pacific Multi-axis Sensor Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Multi-axis Sensor Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Multi-axis Sensor Market Size and Volume Forecast by Types
     10.4.1. Motion Sensor Combos
     10.4.2. Digital Compass
     10.4.3. MEMS Accelerometers
     10.4.4. MEMS Gyroscopes
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Multi-axis Sensor Demand Share Forecast, 2019-2026
11. Middle East & Africa Multi-axis Sensor Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Multi-axis Sensor Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Multi-axis Sensor Market Size and Volume Forecast by Types
     11.4.1. Motion Sensor Combos
     11.4.2. Digital Compass
     11.4.3. MEMS Accelerometers
     11.4.4. MEMS Gyroscopes
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Multi-axis Sensor Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Multi-axis Sensor Market: Market Share Analysis
  12.2. Multi-axis Sensor Distributors and Customers
  12.3. Multi-axis Sensor Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Aeron Systems
     12.4.2. Jewell Instruments LLC
     12.4.3. Interface Inc.
     12.4.4. Trimble Navigation Ltd
     12.4.5. Parker Hannifin
     12.4.6. Honeywell International Inc.
     12.4.7. L3 Communications