Global Hemispherical Resonating Gyroscopes Market – Industry Trends and Forecast to 2029

Global Hemispherical Resonating Gyroscopes Market, By Dimension (1 Axis, 2 Axis, 3 Axis), Application (Low-End Application, High-End Application) – Industry Trends and Forecast to 2029.

Hemispherical Resonating Gyroscopes Market Analysis and Size

Gyroscopes were originally developed for military and defence applications, but due to the potential benefits they offer, they are now being widely adopted in commercial and industrial sectors as well. Automotive, manufacturing, medical, and robotics are just a few of the key industries where demand for various types of gyroscopes is skyrocketing. The growing demand for technologically advanced solutions to improve operational efficiency in a variety of industries, as well as the growing trend of industry automation, are driving demand for these gyroscopes.

Data Bridge Market Research analyses that the hemispherical resonating gyroscopes market was valued at USD 1.37 billion in 2021 and is expected to reach the value of USD 2.20 billion by 2029, at a CAGR of 6.10% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Hemispherical Resonating Gyroscopes Market Scope and Segmentation

Market Definition

The hemispherical resonator gyroscope (HRG), also known as the wine-glass gyroscope or mushroom gyro, is a low-noise, high-performance angular rate or rotation sensor that is small and lightweight. A thin solid-state hemispherical shell is anchored by a thick stem to form an HRG. Electrostatic forces generated by electrodes deposited directly onto separate fused-quartz structures that surround the shell drive this shell to a flexural resonance. The inertial property of the flexural standing waves produces the gyroscopic effect. Despite being a mechanical system, the HRG has no moving parts and can be very compact.

Global Hemispherical Resonating Gyroscopes Market Dynamics

Drivers

• Expansion and adoption of consumer electronic industries

One of the major factors driving the hemispherical resonating gyroscopes market is the global expansion of the electronics industry. Additionally, the increased use of smart and portable devices, such as tablets, laptops, and smartphones, among others, has a positive impact on the market.

• Advantageous properties associated with the technology

The increased demand for the technology due to its numerous advantageous properties, such as cost-efficiency, low energy consumption, light weight, and compact size. These devices are used in sailing boats, consumer electronics, satellites, automobile inertial navigation, aircraft, and military missiles.

• High demand in various applications

The application of technology in robotics, camcorder stabilisation, platform stability, virtual reality, and 3D input devices, among other areas, has a significant impact on the market. These are also used in digital cameras for hand rotation detection and image stabilisation.

Furthermore, rapid urbanisation, lifestyle changes, an increase in investments, and increased consumer spending all have a positive impact on the hemispherical resonating gyroscopes market.

Opportunities

• Advent of Internet of Things (IoT)

The internet of things, rising demand for wearable electronics, and unmanned vehicles will all contribute to the expansion of the hemispherical resonating gyroscopes market during the forecast period.

Restraints

• Complex manufacturing and high capital requirement

In the forecasted period, the complex manufacturing process, as well as the increasing need for high capital investment, will act as market restraints for hemispherical resonating gyroscopes. Less return on investment, combined with increasing levels of integration, will pose the greatest challenge to market growth.

This hemispherical resonating gyroscopes 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 the hemispherical resonating gyroscopes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Hemispherical Resonating Gyroscopes Market

The ongoing COVID-19 pandemic took its toll on the industry. The market's growth has slowed noticeably due to massive disruptions in supply chain movement and government-imposed lockdowns around the world, particularly in the automotive and consumer sectors. It does, however, have the potential to expand, particularly in the wearable industry. Smart wearables are frequently used to provide health-related information. Oura, a smart ring start up, is working with the University of California, San Francisco to develop smart rings that can track body temperature and conduct a daily system survey. It will enable users to learn about COVID-19 at an early stage.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures

Global Hemispherical Resonating Gyroscopes Market Scope

The hemispherical resonating gyroscopes market is segmented on the basis of dimension, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Dimensions

• 1 Axis
• 2 Axis
• 3 Axis

Application

• Low-End Application

Transportation

• Railway
• Automotive

Electronics

• Smartphones
• Tablets
• Laptops
• Wearable Devices
• Portable Navigation Devices (PNDS)
• Portable Media Players
• Digital Cameras
• Other Electronic Devices

Others

• Automation
• Internet of Things
• Structural Health Monitoring
• High-End Application

Defence

• Aerospace
• Commercial Aircraft
• Military Aircraft
• Spacecraft

Remotely Operated Vehicle (ROV)

• Unmanned underwater vehicle (UUV)
• Unmanned aerial vehicle (UAV)
• Unmanned ground vehicle (UGV)

Industrial

• Stabilization
• Flow/Level Sensors
• Others
• Medical

Hemispherical Resonating Gyroscopes Market Regional Analysis/Insights

The hemispherical resonating gyroscopes market is analysed and market size insights and trends are provided by country, dimension, and application as referenced above.

The countries covered in the hemispherical resonating gyroscopes market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, 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), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the hemispherical resonating gyroscopes market because of the adoption of stringent government regulations for safety and emission, as well as the prevalence of various market vendors in the region,

Asia-Pacific (APAC) is expected to see significant growth from 2022 to 2029 because of the high penetration of gyroscopes in hand-held devices in the region,

The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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 Hemispherical Resonating Gyroscopes Market Share Analysis

The hemispherical resonating gyroscopes 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, Global presence, production sites and facilities, production capacities, 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 hemispherical resonating gyroscopes market.

Some of the major players operating in the hemispherical resonating gyroscopes market are:

• Analog Devices, Inc. (U.S.)
• Bosch Sensortec GmbH (Germany)
• TDK Corporation. (Japan)
• STMicroelectronics (Switzerland)
• Murata Manufacturing Co., Ltd. (Japan)
• KIONIX, Inc. (U.S.)
• ASC GmbH (Germany)
• SHENZHEN RION TECHNOLOGY CO., LTD (China)
• Seiko Epson Corp. (Japan)
• Maxim Integrated (U.S.)
• MEMSIC Inc. (U.S.)
• Althen (Germany)
• Safran Colibrys SA (Switzerland)
• DYTRAN INSTRUMENTS INCORPORATED. (U.S.)
• Gladiator Technologies (U.S.)
• TDK Corporation. (Japan)
• Moog Inc. (U.S.)
• Panasonic Corporation (Japan)
• Silicon Sensing Systems Limited (U.K.)
• Texas Instruments Incorporated. (U.S.)
• VectorNav Technologies, LLC (U.S.)