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Gyro Sensors Market Analysis

Report ID: GMI8304
Published Date: Feb 2024
Report Format: PDF

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Gyro Sensors Market Analysis

Gyro Sensors Market Size, By Type, 2022-2032 (USD Million)

Based on type, the market is segmented into single-axis, dual-axis multiple-axis. In 2023, the single-axis segment dominated the market with over 30% of the global share.

Ongoing advancements in MEMS technology have led to improvements in the performance, sensitivity, and reliability of single-axis gyro sensors. These technological advancements continue to drive the adoption of single-axis gyro sensors in industrial and automotive applications, enabling enhanced system performance and functionality. In industrial and automotive applications, single-axis gyro sensors are used for tasks such as vehicle stability control, navigation, and machine condition monitoring. The reliability, accuracy, and affordability of single-axis sensors make them essential components in these critical systems.

Gyro Sensors Market Share, By End-Use, 2023

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Based on end-use, the gyro sensors market has been divided into consumer electronics, automotive, industrial, and others. The automotive segment is anticipated to register a CAGR of over 10.5% from 2024 & 2032.

The automotive industry is experiencing a significant shift towards autonomous driving technologies. Gyro sensors play a crucial role in enabling vehicle stability control, navigation systems, and precise motion tracking, which are essential components of autonomous driving systems. Gyro sensors are integral to ADAS and Electronic Stability Control (ESC) systems in modern vehicles. These systems rely on gyro sensors to accurately detect and respond to changes in vehicle dynamics, enhancing safety and stability under various driving conditions. In April 2023, ACEINNA Inc. announced the general availability of the IMU330RA, IMU designed for use across various applications. The IMU330RA has 6 Degrees of Freedom (6-DOF) inertial sensor configuration, providing users with precise measurement capabilities for both acceleration and angular rate.

China Gyro Sensors Market Size, 2022-2032 (USD Million)

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Asia Pacific dominated the gyro sensors market and is anticipated to register a CAGR of over 11% from 2024 to 2032. The region is the largest automotive market globally, with countries like China, Japan, South Korea, and India leading in automobile production and sales. Gyro sensors play a crucial role in automotive applications for vehicle stability control, rollover detection, navigation systems, and ADAS, driving market demand in the region.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Industry size for gyro sensors surpassed USD 900 million in revenue in 2023 and is projected to expand at 9.5% CAGR between 2024 and 2032 owing to the ongoing proliferation of advanced driver assistance systems (ADAS) technologies in vehicles.

Gyro sensors market from the single-axis segment accounted for more than 30% revenue share in 2023 and is estimated to witness high demand till 2032 due to the ongoing advancements in MEMS technology leading to improvements in performance, sensitivity, and reliability

Asia Pacific market for gyro sensors is set to expand at over 11% CAGR from 2024 to 2032 owing to the expanding automotive sector, in countries like China, Japan, South Korea, and India

Some of the top companies engaged in the market are Analog Devices, Inc., Honeywell International Inc., InnaLabs, InvenSense, and Murata Manufacturing Co., Ltd.