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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| E-Compass Market |
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.
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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 on the basis of
technology, application, sensor type, and geography. On the basis of
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.
On the basis of 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.
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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 Micro devices Corporation,
Bosch Sensor Tec GmbH, Honeywell International Inc., NXP Semiconductors N.V.,
MEMSIC, Inc., Ocean Server Technology Inc., PNI Sensors Corporation, True North
Technologies, and InvenSense Inc.
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