Digital Compass Market – Analysis, Trends And Forecasts, 2015 To 2022

By   | November 2, 2015 |   Price: 4950  |   Category: Digital media
  • A new study by Grand View Research, Inc. notes the digital compass market to grow considerably from 2015 to 2022. Demand for handheld electronic devices like tablets, smartphones, and watches will be the main driver.

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    GPS – Global Positioning System has been central to market growth. Compasses are an important component of GPS technology due to the former’s ability to determine the direction of electronic devices. They are routinely used as navigation tools in gaming devices, tablets, and smartphones.

    The main applications in the digital compass market include construction, industrial, transportation, personal, and military. Standards like LTE and LTE-A will present new opportunities for location-based tracking that utilizes more sensors. ‘View’- an application for smartphones, is an innovation in location-based services.

    It gives data on smartphones regarding interesting sites near the object (e.g., an apartment). The chief intermediaries in the value chain include suppliers, component manufacturers, and integrators & end-users. Suppliers are sellers of raw materials like wafers, equipment, and others. These raw materials are utilized to make the hardware of electronic compasses.

    Leading suppliers in the digital compass market are ASML Corporation, Applied Materials, SCHOTT, SUSS MicroTec, Praxair, and MEMS Star. Component manufacturers include intermediaries who make products by utilizing raw materials and resources. The eminent component manufacturers are Honeywell, Atmel, Bosch, Philips, Toshiba, Qualcomm, and Canon.

    Integrators & end-users comprise intermediaries or clients who incorporate components with navigation and GPS instruments. Apple, Sony, Seagate, Panasonic, Siemens, BAE Systems, Garmin, and Mitsubishi Precision are some of the renowned integrators & end-users.

    Many manufacturers are based in countries like the U.S., U.K., and China. U.S. is a leading digital compass market. The same is credited to it offering advanced hardware and software. High consumer awareness regarding location-based services is also favorable for the region.

    Asia Pacific will experience high growth in the years ahead. This would be due to robust demand for smartphones in the region. Low labor costs and positive outlook on demand for digital compasses will make India and China the primary manufacturers. Leading participants in the digital compass market include Robert Bosch, ST Microelectronics, Bell Automotive Products, Texas Instruments, and Honeywell International.

    Digital Compass Market

    Information Source: Grand View Research

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