Global E-Compass Market To Witness A Healthy Growth

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  • Growing demand for E-compass sensors based on magneto-resistive technology acts as a market driver.
  •  E- Compass' problem at providing accuracy and calibration is a factor restricting the market growth.
  • Global E-compass market is expected to register a healthy CAGR of 15.7%.

Global E-Compass Market By Technology (Fluxgate, Hall Effect, Magnetoresistive, Others), Type (1&2 Axis, 3 Axis, 6 Axis, 9 Axis), Application (Consumer Electronics, Aerospace & Defense, Automotive, Surveying, Marine, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026.

Market Analysis: Global E-Compass Market

Global E-compass market is expected to register a healthy CAGR of 15.7% in the forecast period of 2019-2026. Increasing demand of E-compass in electronic gadgets such as smartphone, tablets, wearable devices and others is a key factor for the growth of this market.

Market Definition: Global E-Compass Market

E-compass is the complete solution for identifying the earth’s magnetic field to get the correct directional way for the users. The device uses magnetometer and accelerometer for utilizing the compass which is widely used in smartphones and others. The main purpose of the E-compass is to provide navigation and that’s the reason it used in GPS navigation equipment & antenna positioning equipment. The E-compass system plays a vital role in the location-based services and used in several other applications including transportation, military, construction among others.

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Market Drivers:

  • Increasing demand of E-compass in electronic gadgets such as smartphone, tablets, wearable devices and others drives the market growth.
  • Prevailing usage of E-compass in Uavs and Auvs is another factor uplifting the market growth.
  • Rising disposable income and changing lifestyle will also drive the market growth.
  • Growing demand for E-compass sensors based on magneto-resistive technology acts as a market driver.

Market Restraints:

  • Threat of widely spread GPS technology is hampering the market growth.
  • Technical lacking while providing accurate mapping of the geomagnetic maps may hinder the market growth.
  • E- Compass’ problem at providing accuracy and calibration is another factor restricting the market growth.

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Key Developments in the Market:

In January 2018, TDK Corporation, a electronics company and Asahi Kasei Microdevices Corporation, provider of advanced sensing devices introduced new product for compass application. The new device is introduced at Consumer Electronics Show 2018 conducted in Las Vegas.

The both companies are offering the accurate solution for electronic devices such as tablets, game console controllers and smartphones which helped them to increase their market presence as well as revenue through increased customer base.

In April 2016, MEMSIC, a sensing solution provider launched new sensor for the e-Compass applications. The new MMC3630KJ is magnetic sensor designed in ultra-small size to fit in different portable devices like electronic gadgets. Through this new product company strengthened their product portfolio and offering for the customers.

Competitive Analysis

Global E-compass market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of E-compass market for Global, Europe, North America, Asia Pacific and South America.

Major Market Competitors/Players

Few of the major competitors currently working in the global E-compass market are TDK Corporation, Asahi Kasei Microdevices Corporation., MEMSIC, Inc, AICHI STEEL CORPORATION., Honeywell International Inc, NXP Semiconductors, Bosch Sensortec GmbH, STMicroelectronics, Magnachip Semiconductor, PNI Sensor, TrueNorth Technology Solutions, mCube, Garmin Ltd, Texas Instruments Incorporated, Sparton, KuSaBa Engineers Private Limited., BARIGO Barometerfabrik GmbH, Koden Electronics Co., Ltd., Jewell Instruments, LLC, Airmar Technology Corp., Navico, among others.

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Rashi Pande

About Us Data Bridge Market Research is a versatile market research and consulting firm with over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe. 
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