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PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1442505

PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1442505

E-Compass Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

PUBLISHED: February 20, 2024

PAGES: 250 Pages

DELIVERY TIME: 2-5 business days

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Description

The global e-compass market is on the brink of significant expansion, driven by a convergence of technological innovations and increasing demand across various sectors. According to recent market projections spanning from 2024 to 2031, the e-compass market is anticipated to witness a robust compound annual growth rate (CAGR) of 14.0%, surging from US$ 2 billion in 2024 to an impressive US$ 5 billion by 2031.

Key Growth Shaping Factors:

The escalating utilization of e-compass technology in GPS navigation systems, antenna position equipment, smartphones, autonomous vehicles, UAVs, wearable devices, and augmented reality applications serves as a primary catalyst propelling market growth. Additionally, the development of compact, inexpensive, and low-power e-compass sensors is expected to further bolster market expansion.

Consumer Electronics Sector Driving Market Growth:

The consumer electronics sector is poised to emerge as a pivotal revenue-generating segment for e-compass manufacturers, experiencing a remarkable CAGR of over 11.1% during the forecast period. With the burgeoning adoption of smartphones, tablets, and smart wearables, the integration of e-compass sensors for enhanced navigation capabilities is becoming increasingly prevalent, thereby augmenting market demand.

Regional Insights:

United States E-Compass Market Growth Forecast:

The United States e-compass market experienced significant growth, with a notable compound annual growth rate (CAGR) of 11.1% from 2019 to 2023. Projections indicate that the market will continue to expand, albeit at a slightly lower rate, with an anticipated 10.1% CAGR over the next decade. By 2031, the market size is expected to reach a substantial valuation. Factors such as the increasing penetration of smartphones and the thriving automotive sector are key drivers of this growth. The rising number of smartphone users, expected to continue growing steadily, contributes to the demand for e-compasses, which are integral to accurate navigation in smartphones. Similarly, the United States' prominence in automobile manufacturing fuels the adoption of e-compasses in vehicles, further propelling market growth.

United Kingdom E-Compass Market Growth Factors:

In the United Kingdom, the e-compass market is forecasted to reach a significant valuation by 2031, with a substantial absolute growth expected over the next decade. The growth rate is projected to be slightly lower compared to the previous period, attributed to various factors. One significant driver is the increasing adoption of e-compasses in drones. The United Kingdom has a notable drone market, and the rising number of registered drones is expected to drive demand for e-compasses, essential for accurate navigation in these devices.

China E-Compass Market Growth Trends:

China's e-compass market experienced rapid expansion between 2019 and 2023, with a notable CAGR. The market is poised for continued growth, albeit at a slightly lower rate, over the next decade. By 2031, the market in China is anticipated to surpass a substantial valuation. The booming consumer electronics and automotive industries are primary contributors to the increasing demand for e-compasses in the country. China's position as a leading manufacturer of consumer electronics and automobiles drives the adoption of e-compasses in navigation systems, particularly in cars. The rapid rise in car production further fuels the demand for e-compasses during the assessment period.

Technology Insights:

The hall effect technology segment remains the most popular globally, attributed to its rising adoption in electronic compasses. Hall effect-based e-compasses, renowned for their affordability and versatility, are experiencing steady growth, particularly in automotive applications and autonomous robots.

Application Outlook:

The consumer electronics segment emerges as a focal point for lucrative growth prospects within the e-compass market. With a CAGR of 11.1% anticipated between 2024 and 2031, the integration of e-compass sensors in mobile phones, tablets, smart wearables, gaming devices, and augmented reality applications is expected to drive sustained market expansion.

Competitive Analysis:

Leading e-compass manufacturers, including L3 Technologies, Aichi Steel Corporation, Bosch Sensortec GmbH, STMicroelectronics N.V., Honeywell International Inc., and others, are strategically investing in research and development initiatives to innovate and enhance product offerings. Collaborations, partnerships, mergers, and acquisitions remain integral strategies employed by key players to solidify their market positions and capitalize on emerging opportunities.

Global E-Compass Market Segmentation:

By Technology:

Fluxgate
Hall Effect
Magnetoresistive

By Application:

Consumer Electronics
Aerospace & Defence
Automotive
Marine
Surveying

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

1. Executive Summary

1.1. Global E-Compass Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global E-Compass Market Outlook, 2018 - 2031

3.1. Global E-Compass Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Fluxgate
  - 3.1.1.2. Hall Effect
  - 3.1.1.3. Magnetoresistive
3.2. Global E-Compass Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Consumer Electronics
  - 3.2.1.2. Aerospace & Defence
  - 3.2.1.3. Automotive
  - 3.2.1.4. Marine
  - 3.2.1.5. Surveying
3.3. Global E-Compass Market Outlook, by Region, Value (US$ Bn), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America E-Compass Market Outlook, 2018 - 2031

4.1. North America E-Compass Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Fluxgate
  - 4.1.1.2. Hall Effect
  - 4.1.1.3. Magnetoresistive
4.2. North America E-Compass Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Consumer Electronics
  - 4.2.1.2. Aerospace & Defence
  - 4.2.1.3. Automotive
  - 4.2.1.4. Marine
  - 4.2.1.5. Surveying
4.3. North America E-Compass Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 4.3.1.2. U.S. E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 4.3.1.3. Canada E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 4.3.1.4. Canada E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe E-Compass Market Outlook, 2018 - 2031

5.1. Europe E-Compass Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Fluxgate
  - 5.1.1.2. Hall Effect
  - 5.1.1.3. Magnetoresistive
5.2. Europe E-Compass Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Consumer Electronics
  - 5.2.1.2. Aerospace & Defence
  - 5.2.1.3. Automotive
  - 5.2.1.4. Marine
  - 5.2.1.5. Surveying
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe E-Compass Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.2. Germany E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.3. U.K. E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.4. U.K. E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.5. France E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.6. France E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.7. Italy E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.8. Italy E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.9. Turkey E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.10. Turkey E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.11. Russia E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.12. Russia E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.13. Rest of Europe E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.14. Rest of Europe E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific E-Compass Market Outlook, 2018 - 2031

6.1. Asia Pacific E-Compass Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Fluxgate
  - 6.1.1.2. Hall Effect
  - 6.1.1.3. Magnetoresistive
6.2. Asia Pacific E-Compass Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Consumer Electronics
  - 6.2.1.2. Aerospace & Defence
  - 6.2.1.3. Automotive
  - 6.2.1.4. Marine
  - 6.2.1.5. Surveying
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific E-Compass Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.2. China E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.3.1.3. Japan E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.4. Japan E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.3.1.5. South Korea E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.6. South Korea E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.3.1.7. India E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.8. India E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.3.1.9. Southeast Asia E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.10. Southeast Asia E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.3.1.11. Rest of Asia Pacific E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.12. Rest of Asia Pacific E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America E-Compass Market Outlook, 2018 - 2031

7.1. Latin America E-Compass Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Fluxgate
  - 7.1.1.2. Hall Effect
  - 7.1.1.3. Magnetoresistive
7.2. Latin America E-Compass Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America E-Compass Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 7.3.1.2. Brazil E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 7.3.1.3. Mexico E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 7.3.1.4. Mexico E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 7.3.1.5. Argentina E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 7.3.1.6. Argentina E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 7.3.1.7. Rest of Latin America E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 7.3.1.8. Rest of Latin America E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa E-Compass Market Outlook, 2018 - 2031

8.1. Middle East & Africa E-Compass Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Fluxgate
  - 8.1.1.2. Hall Effect
  - 8.1.1.3. Magnetoresistive
8.2. Middle East & Africa E-Compass Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Consumer Electronics
  - 8.2.1.2. Aerospace & Defence
  - 8.2.1.3. Automotive
  - 8.2.1.4. Marine
  - 8.2.1.5. Surveying
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa E-Compass Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 8.3.1.2. GCC E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.3.1.3. South Africa E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 8.3.1.4. South Africa E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.3.1.5. Egypt E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 8.3.1.6. Egypt E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.3.1.7. Nigeria E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 8.3.1.8. Nigeria E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.3.1.9. Rest of Middle East & Africa E-Compass Market by Technology, Value (US$ Bn), 2018 - 2031
  - 8.3.1.10. Rest of Middle East & Africa E-Compass Market by Application, Value (US$ Bn), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Manufacturer vs by Application Heatmap
9.2. Company Market Share Analysis, 2023
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Asahi Kasei Microdevices Corporation
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Technology Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. Aichi Steel Corporation
  - 9.4.2.1. Company Overview
  - 9.4.2.2. Technology Portfolio
  - 9.4.2.3. Financial Overview
  - 9.4.2.4. Business Strategies and Development
- 9.4.3. Bosch Sensortec GmbH
  - 9.4.3.1. Company Overview
  - 9.4.3.2. Technology Portfolio
  - 9.4.3.3. Financial Overview
  - 9.4.3.4. Business Strategies and Development
- 9.4.4. Honeywell International Inc.
  - 9.4.4.1. Company Overview
  - 9.4.4.2. Technology Portfolio
  - 9.4.4.3. Financial Overview
  - 9.4.4.4. Business Strategies and Development
- 9.4.5. NXP Semiconductors
  - 9.4.5.1. Company Overview
  - 9.4.5.2. Technology Portfolio
  - 9.4.5.3. Financial Overview
  - 9.4.5.4. Business Strategies and Development
- 9.4.6. ST Microelectronics N.V.
  - 9.4.6.1. Company Overview
  - 9.4.6.2. Technology Portfolio
  - 9.4.6.3. Financial Overview
  - 9.4.6.4. Business Strategies and Development
- 9.4.7. Magnachip Semiconductor
  - 9.4.7.1. Company Overview
  - 9.4.7.2. Technology Portfolio
  - 9.4.7.3. Financial Overview
  - 9.4.7.4. Business Strategies and Development
- 9.4.8. Invensense Inc.
  - 9.4.8.1. Company Overview
  - 9.4.8.2. Technology Portfolio
  - 9.4.8.3. Financial Overview
  - 9.4.8.4. Business Strategies and Development
- 9.4.9. Memsic Inc.
  - 9.4.9.1. Company Overview
  - 9.4.9.2. Technology Portfolio
  - 9.4.9.3. Financial Overview
  - 9.4.9.4. Business Strategies and Development
- 9.4.10. L3 Technologies
  - 9.4.10.1. Company Overview
  - 9.4.10.2. Technology Portfolio
  - 9.4.10.3. Financial Overview
  - 9.4.10.4. Business Strategies and Development