The global MEMS (Micro-Electro-Mechanical System) gyroscope market has experienced significant growth in recent years and is projected to continue expanding in the coming years. In 2022, the market reached a size of US$ 1.9 billion, and it is anticipated to reach US$ 2.8 billion by 2028, with a compound annual growth rate (CAGR) of 5.7% during the period from 2023 to 2028.
A MEMS gyroscope is a mechanical device used to measure angular velocity and assist in navigation. It operates based on the principle of momentum conservation and consists of a free-rotating disk mounted within a spinning axis, which is situated within a larger and more stable wheel. These gyroscopes find applications in various industries, including consumer electronics, automotive airbag systems, gaming consoles, virtual reality (VR), and robotics.
The global electronics industry has played a significant role in driving the growth of the MEMS gyroscope market. The increasing adoption of smart and portable devices like smartphones, tablets, and laptops, which rely on MEMS gyroscopes for motion-sensing capabilities, has contributed to market expansion. The low weight, cost-efficiency, compact size, and minimal energy consumption of MEMS gyroscopes make them an attractive choice for inertial navigation in applications such as automobiles, aircraft, and consumer electronics.
Research and development efforts aimed at enhancing the stability of MEMS gyroscopes for targeting and pointing instruments have also contributed to market growth. Additionally, the rising adoption of wearable devices and automation trends in industries and residential complexes are expected to further drive the market’s growth.
In conclusion, the MEMS gyroscope market is experiencing significant growth due to the increasing demand for motion-sensing capabilities in various industries. The market’s expansion is driven by factors such as the flourishing electronics industry, the adoption of portable devices, and advancements in research and development efforts.
Sources:
– Research and Markets