Gyroscopes are devices that are used to measure the angular momentum of the device within which it is embedded into. Based on the angular momentum which the device can measure, the gyroscope can ensure proper orientation. Gyroscopes are used and are essential across number of industries some of which include the aviation, defence, and robotics as well as consumer electronics. The consumer electronics market has seen a number of advancements which require gyroscopes. Smartphones and tablets are just two of the main consumer electronic devices which are employing gyroscopes in conjunction with accelerometers. Both of these components are essential in smartphones and tablets so that the location of the device can be determined allowing a number of apps to function. Almost every app which is developed for a smartphone or tablet requires to know the location of the device in order for effective operation. For example, many companies today utilize the app on their customers phones to identify where their customers are. Similarly, a number of e-commerce sites also require this information to get real-time data on where the maximum number of sales are taking place. All of this is made possible through the aid of a number of devices of which the gyroscope is essential.
The Gyroscope market can be segmented on the basis of product as:
- Gaming Consoles
In terms of application, the Gyroscope market has been segmented across the following:
- Consumer Electronics
- Aerospace & Defence
The aerospace and defence industry is estimated to be the largest user of gyroscopes. Gyroscopes are used in aircrafts, missiles as well as in drones. The number of drones as well as the application of drones has increased significantly over the last few years and will continue to increase especially with the consumer and enterprise sectors looking into the same. There is also a trend with gyroscopes and accelerometers being integrated as a single unit which would drive down the prices of the components.
As on date, the APAC region has accounted for the largest share of the gyroscope market and is expected to be the leader till the end of the forecast period. A key reason for this is that most of the OEMs are located in the region and integrate gyroscopes in the numerous devices which they manufacture.
The market has been segmented based on the following geographies:
- North America
- South America
- Middle East
Sample Companies profiled in this Report are:
- Honeywell International, Inc
- Lord Microstain