Global Gyroscope Market, By Technology Type (MEMS Gyroscope, Fiber Optic Gyroscope (FOG), Ring Laser Gyroscope (RLG), Hemispherical Resonator Gyroscope (HRG), Dynamically Tuned Gyroscope (DTG), Others), Product Type (Smartphones, Tablets, Cameras, Game Consoles, Laptops, Navigational Devices, Others), End User (Consumer Electronics, Automotive, Aerospace and Defense, Industrial, Marine, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Gyroscope Market
Gyroscope market size is valued at USD 4.98 billion by 2028 and is expected to grow at a compound annual growth rate of 5.20% in the forecast period of 2021 to 2028. Data Bridge Market Research report on gyroscope provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Gyroscope is a type of an instrument or a sensor that upholds the direction and angular velocity of an object it is placed in and also provides more precise and automated collected data with fewer errors in the recorded information. Gyroscopes were primarily developed for use in military and defense applications, but due to its potential benefits, they are now being broadly adopted in commercial and industrial sectors as well.
The growing demand for the satisfactory performance of INS has inclined technological innovations in gyroscopes which has been directly influencing the growth of gyroscope market over the forecast period of 2021 to 2028. Also the rapidly increasing adoption of drones and unmanned aerial vehicles (UAVs) in the defense and commercial sector is also flourishing the growth of the gyroscope market. Also the rapid technological innovations, as a result of the growing investments in the market, are resulting in higher performance and lower costs which is also positively impacting the growth of the market. Furthermore, the various end users are deploying gyroscopes in their automation process to boost their production frequency without compromising on the quality which is also creating a huge demand for gyroscope as well as lifting the growth of the gyroscope market. The major factors that determine the growth of the gyroscope market comprise its growing application in smartphones and handheld devices. However, the ever-increasing manufacturing complexity and high costs involved in the industry are acting as the major limitations for the growth of gyroscope in the above mentioned forecasted period, whereas the various technical issues have the potential to challenge the gyroscope market growth in the forecast period of 2021 to 2028.
Likewise, the increasing demand for wearable’s and handheld devices as well as growing virtual reality and augmented reality applications will further cater ample new opportunities that will lead to the growth of the gyroscope market in the above mentioned forecasted period.
This gyroscope market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on gyroscope market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Gyroscope Market Scope and Market Size
Gyroscope market is segmented on the basis of technology type, product type and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of technology type, the gyroscope market is segmented into MEMS gyroscope, fiber optic gyroscope (FOG), ring laser gyroscope (RLG), hemispherical resonator gyroscope (HRG), dynamically tuned gyroscope (DTG) and others.
- Based on product type, the gyroscope market is segmented into smartphones, tablets, cameras, game consoles, laptops, navigational devices and others.
- The end user segment of the gyroscope market is segmented into consumer electronics, automotive, aerospace and defense, industrial, marine and others.
Gyroscope Market Country Level Analysis
Gyroscope market is analyzed and market size, volume information is provided by country, technology type, product type and end user as referenced above.
The countries covered in the gyroscope market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the gyroscope market due to the highly developed technological advancement in the region. Asia-Pacific is expected to expand at a significant growth rate of over the forecast period of 2021 to 2028 due to the increasing number of automobiles owing to the emerging economies such as India, China and Japan within this region.
The country section of the gyroscope market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Gyroscope Market Share Analysis
Gyroscope market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to gyroscope market.
The major players covered in the gyroscope market report are Honeywell International Inc, Bosch Sensortec GmbH, Analog Devices, Inc., Trimble Inc., Murata Manufacturing Co., Ltd, Silicon Sensing Systems Limited, Parker Hannifin Corp, MEMSIC Semiconductor (Tianjin) Co., Ltd., Northrop Grumman Corporation, EMCORE Corporation, KVH Industries, Inc, Safran, TDK Corporation, Fizoptika, GEM elettronica, Optolink, STMicroelectronics, KIONIX Inc., VectorNav Technologies, LLC, NXP Semiconductors, Epson America, Inc, and InnaLabs among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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