MEMS Gyroscope Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The MEMS gyroscope market is expected to witness a CAGR of 9.48% during the forecast period (2021- 2026). MEMS gyroscopes are incorporated in several electronic devices, such as digital camcorders, video cameras, digital cameras, personal media players, notebook PCs, and video games.

• The gyroscope market is primarily driven by increased defense expenditure, across the world. According to SIPRI, global military spending remains very high at USD 1.7 trillion. With increased expenditure, the various military organizations are poised to adopt the latest technology in order to enhance efficiency.
• There has been an increased proliferation of mobile devices. MEMS gyroscope facilitates a high level of motion sensing accuracy required in smartphones. Thus, the increased demand for smartphone is positively impacting the adoption rate of MEMS gyroscope sensors.

Key Market Trends

Automotive and Aerospace Sector is Expected to Hold the Major Market Share

• Vehicle dynamic control (VDC) system consists of a gyroscope, a low-g accelerometer, and wheel-speed sensors at each wheel (the ABS can also use the wheel-speed sensors). Wheel speed is measured, and the predicted turn rate of the car is compared with that measured by the gyroscope.
• Rollover detection systems use a gyroscope to detect the roll rate. An accelerometer reading vertical acceleration (Z-axis) is also required because large roll angles can be encountered in banked curves with no possibility of a rollover.
• Navigation system relies on compass and GPS information when the system is first started. The direction of travel is then matched up with map data to give the system more certainty regarding direction. With the adoption of GPS navigation systems, customers are most likely to shift to Gyroscope-powered GPS in order to get accurate readings.

North America is Expected to Hold the Major Market Share

• Gyroscope technologies are primarily being developed in the North American region. Driven by government regulations for safety and emissions, the introduction of high-end options in modern vehicles by major automobile manufacturers and consumer demand for safety, comfort, infotainment applications, and fuel efficiency, automotive electronics content per vehicle is on the rise. As the electronics content is increasing in automobiles, the number of automotive sensors used in vehicles is also increasing.
• Primarily, the government regulations in North America drive the demand for automobile safety features that range from passive to integrated active and passive safety systems. These developments are driving increased demand for applications, such as tire pressure monitoring, electronic stability control, occupant detection, and advanced driver assistant systems.
• MEMS Gyroscope has enabled exciting applications in portable devices, including optical image stabilization for camera performance improvement, the user interface for additional features and ease of use, and gaming for more exciting entertainment. As North America is the biggest market for consumer electronics, the adoption rate of MEMS gyroscope is expected to follow the same trend.

Competitive Landscape

The MEMS gyroscope market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. Manufacturers are introducing innovative features to gain a competitive advantage. They are marketing their products with specific features to attract customers.

• February 2019: Bosch Sensortec launched ideation community to foster and accelerate innovative IOT applications. Bosch Sensortec further invited anyone interested in learning about the new community to visit the Bosch Booth at embedded world in Nuremberg.
• January 2019: At CES in Las Vegas, Nevada, Bosch Sensortec announced the BMI270, an ultra-low power smart Inertial Measurement Unit (IMU) specifically targeted at wearable applications. It offers a strongly improved accelerometer offset and sensitivity performance, enabled by the newest Bosch MEMS process technology.

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