The digital compass
market is expected to witness considerable growth over the forecast period.
Growth is largely driven by the insistent demand for handheld electronic
devices such as watches, smartphones, tablets, GPS, and other connected
devices.
Rising demand for
simpler user interfaces and better access to technologies have resulted in the
development of digital compass. Its use in navigation has become a standard
requirement in smartphones, gaming devices, and tablets, which in turn is
expected to substantially increase market growth.
A GPS by itself is just
able to provide the information where the device is. The GPS cannot determine
the direction in which the device is facing; in order to determine the
direction, the GPS should be moving. As compasses do not rely on GPS signals to
determine the direction, they are a vital part of GPS device, thereby driving
their growth over the forecast period.
In a basic form,
electronic compasses naturally accompany navigation features of GPS in portable
navigation devices. Electronic compasses enhance the positioning of GPS devices
by providing directional information with significant built-in accuracy, making
it considerably useful in location-based services and other applications. Key
application areas include industrial, personal, construction, transportation, and
military applications.
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An innovation in
location-based service vertical is the launch of “View,” an application for
smartphones. Through this application, using smartphone’s camera and compass,
users can point a smartphone to an object such as an apartment and retrieve relevant
information on nearby places of interest such as malls, theatres, and shops.
Sony’s move controller
for PlayStation 3 and the next-gen controller for Nintendo Wii are expected to
feature three sensors in order to deliver smoother, more stable, more accurate,
and faster motion control along with Quality of Experience (QoE).
The intermediary
verticals in the value chain include suppliers, component manufacturers,
integrators as well as end-users.
Component manufacturers
are the intermediaries who manufacture the product by using resources and raw
materials, as received from the supplier. Key component manufacturers include
Atmel, Philips, Honeywell, Bosch, Toshiba, Canon, and Qualcomm.
Finally, integrators
and end-users include the consumers or the intermediaries who integrate
component with GPS and other navigation devices. Key integrators and end-users
include Apple, Seagate, Sony, Panasonic, BAE Systems, Mitsubishi Precision,
Garmin, and Siemens.
In February 2013,
InvenSense launched second-generation MPU-9250 nine-axis MEMS motion tracking
device for smartphones, tablets, wearable sensors, and other consumer devices.
The product’s key features include compact size and low power consumption.
In July 2012, AKM
launched three-axis AK8963C for portable appliances. It features one-chip
compass architecture and a wide range of measurements.
In July 2012, ST
Microelectronics came up with high performance LSM303D digital e-compass
module. The company reduced e-compass module roughly to the size of a single function,
stand-alone motion sensors.
In 2014, Baolab
launched 3D MEMS for the cost-effective segment. This low cost product is
designed for smartphones and tablets.
Asia Pacific is
expected to emerge as a high growth market over the forecast period owing to
increasing demand for smartphones. China and India are perceived to behold
placid growth in future. Huge demand potential and low labor costs are expected
to help China and India emerge as a worldwide hub for digital compass
manufacturing industries.
EMEA is anticipated to
show significant growth in the industry over the forecast period, but
competition, market saturation, and political instability are expected to
impact growth in some regions.
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