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At what pace is the multi-axis sensor market growing, and what is its estimated value?
The multi-axis sensor market size has grown rapidly in recent years. It will grow from $1.67 billion in 2024 to $1.87 billion in 2025 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to a rise in the adoption of wearable devices, increasing demand for precise position, growth in the need for multi-axis sensors in telematics, growth in the number of wearable health monitoring systems, and increasing demand for multi-axis sensors in gaming headsets.
The multi-axis sensor market size is expected to see rapid growth in the next few years. It will grow to $2.89 billion in 2029 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to growing industrialization, growing popularity of unmanned vehicles, rising consumer electronics, increasing penetration of smartphones, and rising demand in the aerospace and defense sectors. Major trends in the forecast period include technological advancements, adoption of IoT devices, integration in wearable technology, integration with AR, and data analytics.
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What are the top drivers to the rising demand in the multi-axis sensor market?
Increased demand for automation is expected to propel the growth of the multi-axis sensor market going forward. Automation refers to the use of technology to carry out tasks with little to no human involvement, improving efficiency and accuracy. The increased demand for automation is driven by the need for greater efficiency, reduced operational costs, enhanced accuracy, and the ability to handle complex tasks at higher speeds, while also addressing labor shortages and improving safety in various industries. Multi-axis sensors provide detailed data on movement across multiple axes (X, Y, and Z), enabling high-precision task performance in automation systems, particularly in industries such as robotics and manufacturing where fine control is essential. For instance, in September 2023, according to the International Federation of Robotics, a Germany-based organization for robotics research, factories worldwide installed 553,052 industrial robots in 2022, a 5% increase from the previous year. Therefore, the increased demand for automation is driving the growth of the multi-axis sensor market.
How is the multi-axis sensor market segmented?
The multi-axis sensor market covered in this report is segmented –
1) By Type: Microelectromechanical Systems Gyroscopes, Microelectromechanical Systems Accelerometers, Digital Compass, Motion Sensor Combos, Other Types
2) By Axis: 2-Axis, 3-Axis, 6-Axis, 9-Axis
3) By Vertical: Consumer Electronics, Automotive, Aerospace And Defense, Industrial, Other Verticals
Subsegments:
1) By Microelectromechanical Systems (MEMS) Gyroscopes: 1-Axis Gyroscopes, 2-Axis Gyroscopes, 3-Axis Gyroscopes
2) By Microelectromechanical Systems (MEMS) Accelerometers: 1-Axis Accelerometers, 2-Axis Accelerometers, 3-Axis Accelerometers
3) By Digital Compass: Fluxgate Compasses, Magnetoresistive Compasses, Hall Effect Compasses
4) By Motion Sensor Combos: Gyroscope & Accelerometer Combos, Accelerometer & Magnetometer Combos, 9-Axis Motion Sensors (Gyroscope, Accelerometer & Magnetometer)
5) By Other Types: Inertial Measurement Units (IMUs), Tilt Sensors, Optical Motion Sensors
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Who are the top competitors in the multi-axis sensor market?
Major companies operating in the multi-axis sensor market are Bosch Sensortec GmbH, InvenSense Inc., ATI Industrial Automation Inc., Kionix Inc., Honeywell International Inc., Jewell Instruments LLC, L3Harris Technologies Inc., Texas Instruments Incorporated, STMicroelectronics N.V., NXP Semiconductors N.V., Murata Manufacturing Co. Ltd., Analog Devices Inc., Microchip Technology Incorporated, Interface Inc., PCB Piezotronics Inc., MEMSIC Inc., Broadcom Inc., Aceinna Inc., Althen Sensors & Controls GmbH, Robotus Co. Ltd.
What significant trends should we anticipate in the multi-axis sensor market over the forecast period?
Major companies in the multi-axis sensor market are focusing on developing innovative products, such as frictionless linear motors, to enhance the precision, speed, and efficiency of sensor systems, enabling more accurate measurements and smoother operations in applications like robotics, manufacturing, and automation. Frictionless linear motors are advanced types of electric motors that provide motion along a straight line without physical contact between moving parts. For instance, in February 2024, Renishaw Inc., a UK-based electronics company, launched the AGILITY 5-Axis multi-sensor coordinate measuring machines. The AGILITY system incorporates advanced 5-axis technology, allowing for high-speed and highly accurate measurements across multiple planes without the need for repositioning the workpiece. It seamlessly integrates multiple sensor types, including contact and non-contact sensors, to provide versatile measurement capabilities. The frictionless linear motors contribute to smooth, rapid motion, minimizing wear and improving system longevity.
Which regional trends are influencing the multi-axis sensor market, and which area dominates the industry?
North America was the largest region in the multi-axis sensor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi-axis sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Multi-Axis Sensor Market Report 2025 Offer?
The multi-axis sensor market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Multi-axis sensors are sophisticated devices designed to measure multiple forces and moments simultaneously across different axes. These sensors are integral in various applications, including mechanical engineering, robotics, aerospace, and material testing. They provide valuable data for optimizing performance, ensuring safety, and enabling precise control in dynamic environments.
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