Research and Markets has announced the addition of the "Global MEMS Gyroscope Market 2012-2016" report to their offering.
The analysts forecast the Global MEMS Gyroscope market to grow at a CAGR of 9.2 percent over the period 2012-2016. One of the key factors contributing to this market growth is the high demand for MEMS Gyroscopes in smartphones. The Global MEMS Gyroscope market has also been witnessing increasing usage in digital cameras. However, the high competition among vendors could pose a challenge to the growth of this market.
The key vendors dominating this market space are InvenSense Inc., STMicroelelctrionics NV, Epson Toyocom Corp., and Panasonic Corp.
Other vendors mentioned in the report are Sony Corp., Murata Manufacturing Co. Ltd., and Robert Bosch Gmbh.
Commenting on the report, an analyst from the team said: The increasing usage of MEMS gyroscopes in digital cameras is a major trend that is expected to contribute to the growth of the market. The MEMS Gyroscope market is increasing its applications in digital cameras. MEMS gyroscopes provide high stability in digital cameras, thereby helping deliver images with high clarity. As the demand for digital cameras with higher megapixels is increasing in the Consumer Electronics market, the adoption of MEMS gyroscopes is also increasing. MEMS gyroscopes help capture even minute details with high resolution. These features make digital cameras more efficient and this is therefore increasing sales.
According to the report, one of the major drivers is the growing Smartphones market. MEMS gyroscopes provide a high level of motion sensing accuracy in a smartphone for its various applications. The rapid increase in the sales of smartphones across the globe has led to an increase in the demand for MEMS gyroscopes.
Further, the report states that one of the key challenges in this market is the high competition among vendors. The increasing competition is leading to fierce price wars, forcing vendors to provide MEMS gyroscopes at lower prices than their competitors. This is one of the major factors affecting the growth of the market.
For more information visit http://www.researchandmarkets.com/research/cg4cx3/global_mems