Market Size of MEMS Gyroscope Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.48 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEMS Gyroscope Market Analysis
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.
