Gyroscope market - Forecast(2020 - 2025)
Gyroscope Market Overview: According to the Global System for Mobile Communications (GSMA), there are over 5,000 million mobile subscribers today, and the organization estimates that there will be around 6,000 million mobile subscribers in 2025 [1] . Now, the mobile phones manufactured today are comprised of gyroscope sensors that detect the orientation of the phone, which is opening up the gyroscope market which had a market size of $1.5 billion to $1.7 billion in 2018, according to the findings by IndustryARC’s market analyst. Furthermore, the demand for the product is estimated to grow with a CAGR of 4% to 5% during the forecast period of 2019 to 2025. North America is observing a rapid development in the aerospace and defense sector, and the region is leveraging technology to inculcate robust defense. Now, the compact designing and miniaturization of gyroscopes are making it a preferable alternative to other similar sensors. Furthermore, there is a discernible growth in the au...