Global E-Compass Market Set to Grow Significantly, Predicts M&M in New Report Available at MarketPublishers.com15 Nov 2016 • by Natalie Aster
LONDON – As of 2015, the global e-compass marketplace was worth approximately USD 809 million. It is set to keep on growing in the upcoming years at a double digit CAGR of around 15%. This market is forecast to be worth USD 2.2 billion by 2022.
Growth in the adoption of e-compass sensors in the consumer electronics segment and growth of the market for wearable devices are some of major driving forces of this marketplace.
The use of the compasses in AUVs and UAVs will also encourage growth of the market space.
But the growth will be not as high as it could be given the extensive usage of the GPS technology. Changes taking place in geomagnetic maps are another important restraint. The marketplace copes with some challenges, as well. Calibration issues and data accuracy are some of them.
E-compass sensors based on the magnetoresistive technology are set to be the segment showcasing the highest growth in the offing.
When it comes to the market growth, APAC is set to be the swiftest growing marketplace.
mCube, MEMSIC, Ocean Server Technology and InvenSense are amongst major players in the e-compass universe.
New research report “E-Compass Market - Global Forecast to 2022” elaborated by M&M offers an up-close look at the global e-compass marketplace. The study provides a 360-degreee overview of this space, including data on its segmentation, recent trends as well as driving forces, restraints, challenges and opportunities.
Industry trends are explored in the report, too. The research study analyses the worldwide marketplace on the basis of application fields, technologies and sensor types. It concentrates on key geographies like North America and Europe.
The research report delves deep into the competitive situation globally. The study contains detailed profiles of major companies. Future projections for this marketplace can be found in the report, as well.
More new research studies by M&M are available at its page.