Navigating the Automotive Landscape: Insights into the Global Gyroscope Market

Global Automotive Gyroscope Market Size, Competitive Landscape and Trend Analysis Report by Type: Global Opportunity Analysis and Industry Forecast, 2022-2032

NEW CASTLE, DELAWARE, UNITED STATES, January 30, 2024 /EINPresswire.com/ -- An automotive gyroscope is a device used to measure angular velocity or angular acceleration in cars and other vehicles. It is also known as a rate gyroscope or gyro for short. Gyroscopes are used to measure the roll, pitch, and yaw of a vehicle and can be used to detect and correct skidding and provide feedback to active suspension systems. In addition, they are used in navigation systems, such as GPS, and in cruise control systems. The global automotive gyroscope market covers different technologies such as MEMS gyroscopes, ring laser gyroscopes (RLG), fiber optic gyroscopes (FOG), and hemispherical resonating gyroscopes (HRG).

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-toc-and-sample/A49716

The automotive gyroscope market is expected to grow significantly over the forecast period owing to its increasing adoption in numerous automotive applications such as vehicle dynamic control, navigation, and passenger comfort. The automotive gyroscope provides accurate and reliable data regarding the vehicle's direction, orientation, and rotation rate, which is expected to further fuel the market growth. Increase in technological advancements such as improved inertial sensors and MEMS technology is further anticipated to drive market growth. Moreover, the growth of the automotive sector across the globe is expected to further propel the market for automotive gyroscopes. As per the OICA (The International Organization of Motor Vehicle Manufacturers(OICA), in 2021, the sale of motor vehicles increased to 82.7 million, which is an increase of 5% compared to previous year. However, the high cost of automotive gyroscopes is a major factor restraining the market growth. In addition, the complexity associated with the integration of automotive gyroscopes with other systems and components may hinder market growth.

Despite these challenges, increase in demand for automotive gyroscopes from the automotive industry, especially rise in demand for luxury vehicles, is anticipated to provide ample growth opportunities to the market players. Furthermore, advancements in automotive gyroscopes, such as the introduction of vibrating gyroscopes, which are more accurate and stable than mechanical gyroscopes, are expected to propel the market growth.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.alliedmarketresearch.com/automotive-gyroscope-market/purchase-options

Some of the major trends in the global automotive gyroscope market include increase in demand for automated driving solutions, surge in adoption of MEMS gyroscopes, and rise in use of inertial measurement units (IMU) . IMUs are composed of several inertial sensors such as accelerometers, gyroscopes, and magnetometers. Gyroscopes are used in IMUs to measure the angular velocity and position of the vehicle. Moreover, the developing autonomous vehicle technology is positively impacting the market as automotive manufacturers are investing in the development of autonomous vehicle technology, where advanced gyroscopes are required for proper navigation and control. For instance, in April 2020, a paper was presented by researchers from the University of Michigan at the 7th IEEE International Symposium on Inertial Sensors & Systems on a new gyroscope technology called a precision shell integrating (PSI) gyroscope. It can track and navigate autonomous vehicles and drones without using GPS.

𝐍𝐞𝐰 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 𝐥𝐚𝐮𝐧𝐜𝐡𝐞𝐬 𝐭𝐨 𝐟𝐥𝐨𝐮𝐫𝐢𝐬𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭.
To fulfil the increasing demand from automotive manufacturers, companies are investing in new product development and advanced technologies. For instance, in November 2022, Murata Electronics launched a new MEMS combined gyroscope and accelerometer sensor portfolio, namely, SCC400T series. This series allows the implementation of a 6DoF sensor solution on one application PCB by combining 5DoF and 1DoF sensors. Additionally, in November 2022, TDK Corporation launched InvenSense IAM-20380HT, a high-temperature automotive monolithic 3-axis MotionTracking sensor platform solution for non-safety automotive applications up to 105˚C. It includes the IAM-20380HT 3-axis MEMS gyroscope and the DK-20380HT developer kit. Such technological advancements and increasing demand for automobiles are expected to propel market growth during the forecast period.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰
By type: On the basis of type, automotive gyroscope market is segmented into 2-axis, 3-axis, and 6-axis.
By technology: According to technology, automotive gyroscope market is classified into MEMS gyroscope, ring laser gyroscope (RLG), fiber optic gyroscope (FOG), hemispherical resonating gyroscope (HRG), and others.
By application: The automotive gyroscope market is categorized into two-wheelers, passenger vehicles, and commercial vehicles.
By Region: Asia-Pacific has a significant market share in automotive gyroscope, due to extensive demand for the automotive presence of major automobile companies in the region. The major players are striving to develop manufacturing units in these markets to improve production quantities as well as serve the Asian automotive industry. The demand for automotive gyroscopes is directly driven by the automotive industry and its technological advancements. Many global automobile manufacturers are setting up their production facilities in Asian countries to fulfill regional demand.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A49716

Competitive analysis and profiles of the major players in the automotive gyroscope market There are some important players in the market, such as Kionix Inc., Parker Hannifin B.V., Seiko Epson Corporation, STmicroelectronics, TDK Corporation, and Tronic's Microsystems SA. Major players have adopted product launch and acquisition as key developmental strategies to improve the product portfolio of the automotive gyroscope market.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
• Trimble Navigation Ltd.
• Honeywell International Inc
• Denso Corporation
• Invensense
• Continental AG
• NXP Semiconductors
• Murata Electronics Oy
• STMicroelectronics
• Robert Bosch GmbH
• Analog Devices Inc

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𝐏𝐚𝐬𝐬𝐞𝐧𝐠𝐞𝐫 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.alliedmarketresearch.com/passenger-vehicle-market

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David Correa
Allied Market Research
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