E-compass is a sensor present in today’s smartphones. The e-compass sensor acts as a real compass and is helpful in some games as well. The adoption of e-compass sensors in the consumer electronics products such as tablets, smartphones, and wearables would drive the e-compass market in the forecast period. The e-compass sensors are a ready fit to the navigation systems installed in the portable electronic products. The reduction of the sensor packages to be efficiently integrated into the portable electronics products has significantly boosted the market growth in the recent times. The growth in consumption of wearable electronic devices would drive the market in the coming years.
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The major restraint for e-compass
is the presence of GPS technology as a substitute for the similar applications
related with navigation. A Large number of equipment these days has integrated
GPS technology and as GPS technology can also be used as a navigating compass
wherever the GPS signals are present, many device makers do not see the need to
add additional hardware for e-compass. The increasing demand for wearable
electronics such as smart watches, fitness, and sports trackers has created a
huge demand for e-compass market. The GPS-based navigation technologies are
able to provide a precise location only when they are in a range of GPS
signals. However, the tilt compensated e-compasses do not rely on the GPS
signals and continue to provide the right direction even in the absence of a
GPS signal, thereby rendering them extremely useful specifically for
applications such as outdoor recreational sports.
The market for magneto resistive
technology-based e-compass sensors is expected to grow at the highest rate
during the forecast period. The compact structure of the device and the
miniaturization capacity of the technology have resulted in increasing adoption
in the consumer electronics market. These sensors also provide fast response
time, which can be helpful in scenarios where the heading of the device varies
at a fast rate. These features have promoted the utilization of magneto
resistive sensors across various applications.
The global e-compass market is segmented based
on technology, application, sensor type, and geography. Based on Technology,
the global e-compass market is segmented into Hall Effect, Fluxgate, Magneto
resistive, and so on. The Hall Effect-based e-compass is expected to hold the
largest market share and dominate the e-compass market during the forecast
period, owing to their increasing adoption within consumer electronics market,
which requires low cost e-compass and compact sensors in devices such as tablet
computers, smartphones, gaming consoles, and so on.
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Based on Application, the global
e-compass market is segmented into aerospace & defense, consumer
electronics, marine, automotive, surveying and so on. The “consumer
electronics” application is expected to hold the largest market share and
dominate the e-compass market during the forecast period. The increasing
penetration of wearable electronics and usage of navigation-based mobile
applications are creating a huge demand for e-compasses within the consumer
electronics segment. On the basis of Sensor Type, the global e-compass
market is segmented into 1 & 2-axis, 3-axis, 6-axis, 9-axis, and so on. On
the basis of Geography, the global e-compass market is segmented into North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa.
The Asia Pacific region is
expected to hold the largest market share and dominate the e-compass market
during the forecast period. The high growth and the large market can be
attributed to the virtual monopoly of Asia Pacific in the production of
consumer electronics. The key players of global e-compass market are
STMicroelectronics, mCube Inc., MagnaChip semiconductor, Aichi Steel
Corporation, Asahi Kasei Microdevices Corporation, Bosch Sensortec GmbH,
Honeywell International Inc., NXP Semiconductors N.V., MEMSIC, Inc., Ocean
Server Technology Inc., PNI Sensors Corporation, TrueNorth Technologies, and
InvenSense Inc.
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