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Global MEMS Inertial Sensor Market Forecast to Grow at a CAGR of 14%
August 13, 2015 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Global MEMS Inertial Sensor Market 2015-2019" report to their offering.
The size of the sensors used to be an issue and made it difficult to integrate them in various devices. But, with the rise in miniaturization, MEMS inertial sensors can now be used in all kinds of devices irrespective of size. Miniaturization also helps increase efficiency and reduces power consumption. The fusion of sensors also leads to a reduction in price. This trend has led to an increase in the growth rate of combo sensors, which is expected to grow during the forecast period.
According to the report, consumers of all ages are shifting from simple products to multipurpose wearable gadgets to better serve their changing lifestyles. For example, wristwatches are being replaced with smartwatches. The healthcare segment will contribute significantly to the greater use of wearables. These devices help monitor health issues such as diabetes, blood pressure, and heart rate. Companies like Fitbit, Xiaomi, and Google are leading the market.
Further, the report states that the market is facing some challenges, which can hamper growth. For instance, manufacturers face issues related to accuracy and calibration when manufacturing combo sensors.
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