An overview of the “Global Digital Compass Market” the current state of the industry, market trends, significant market participants, product type, application, and geography are provided at the beginning of the study. It also covers how COVID-19 has affected market participants, end-user industries, future predictions, growth potential, and worldwide market trends.
Global Digital Compass Market is valued approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2030.
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The Digital Compass can be defined as handheld electronic devices that are equipped with sensors to determine the magnetic field and display those measurements numerically. Digital compass offers several advantages such as portability, quick orientation etc. Digital compass is utilized in across different applications such as Consumer Electronics, Aerospace and Defense, Automotive, Surveying, and Marine among others. The growing worldwide Navigation devices & services industry and increasing demand from end use industries as well as rising electric & electronics sector are factors that are accelerating the global market demand.
For instance, In 2021, the global market for navigation satellite system (GNSS) was valued at USD 213.28 billion, and this market is estimated to grow to USD 527.79 billion by end of 2031. Furthermore, as per Statista – as of 2022, revenue in global Consumer Electronics sector is estimated at USD 755 billion and this amount is projected to grow to USD 930 billion by 2025, witnessing a CAGR of 7.20% between 2022 and 2025. Also, growing penetration of smartphones in emerging economies and rising technological advancements in navigation services industry are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, stringent government regulations and rising concern over cyber security impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Digital Compass Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to presence of leading market players and rising technological advancements in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as increasing penetration of smartphones and growing navigation services industry in the region, would create lucrative growth prospects for the Digital Compass Market across the Asia Pacific region.
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Major market players included in this report are:
- ST Microelectronics
- Robert Bosch
- Texas Instruments
- Asahi Kasei Microdevices
- Bell Automotive Products
- Baolab Microsystems
- Garmin Ltd.
- Honeywell International
- Sparton Corporation
- BARIGO Barometerfabrik GmbH
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type
3-axis Type
6-axis Type
9-axis Type
By Application
Mobile Phones
Tablets
Automotives
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Table of content
Market Overview
Market Definition and Scope
Market Dynamics
Market Industry Analysis
Market, Regional Analysis
Analysis of Leading Companies
Competitive Intelligence
Research Process
Market Analysis and Forecast, By Product Types
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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