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3. Most Players have also Targeted their Research and Development Activities to Produce Products for the Consumer Electronics in the E-Campass Market

The e-compass sensors are increasingly being adopted in the portable electronics devices. The sensors are also increasingly being adopted in other applications as well as in aerospace and defense and surveying activities. Most consumption of e-compass sensors is from the APAC region, thereby making it the largest market for e-compass sensors. This is because of the presence of a large number of consumer electronics products manufacturers in the region. Countries such as China, Japan and South Korea have many manufacturing plants which employ e-compasses in their final product. The APC market is also expected to grow at a high rate owing to the penetration of the portable electronics products and the growing wearables market.

New product development has been the key strategy for the e-compass market. A number of major players have resorted to developing newer and more compact sensors. Most players have also targeted their research and development activities to produce products for the consumer electronics market. Partnership, agreements, collaborations have been the key strategy adopted in the market. The e-compass sensor vendors have sought to enter into agreements with the demand side of the value chain, to strengthen their market positions. Mergers and acquisitions has also been used as a strategy for increasing the market share, however, its utilization has been to a lesser extent.

Asahi Kasei Microdevices Corporation (Japan), also referred to as AKM, has been ranked first in the e-compass market. The company has been a leader in the magnetometer sensors and e-compass sensors. The company has launched its newer e-compass sensors targeting the smartphone market, which are the largest consumers of the e-compass sensors. The company has strived to provide smaller products in smaller packages which find an appropriate fit in the smartphones and tablet manufacturing. It has many buyer relations and tie-ups with the Asian manufacturers in the consumer electronics industry. Apart from APAC region, the company has considerable outreach in the North American and European markets. In 2015, the company signed a global distribution agreement with Digikey Corporation (U.S.), to improve its distribution network. To continue its leading position in the market, AKM also launched a 3-axis electronic compass in 2016 which has in-built functionality of magnetic sensitivity adjustment.

Aichi Steel Corporation (Japan) was ranked the second in the e-compass market. It has been among the leading magnetometer sensor provider in the world for a considerable time. The company has produced 3-axis and 6-axis sensors targeting the smartphone and tablet market. The low cost of manufacturing also adds to the throughput of the company. The company also has major tie-ups with the automotive sector and has supplied e-compass sensors to the automotive and marine industries. The considerable number of automotive and marine manufacturers in the APAC region boosts the company’s productivity through e-compass sensor demand.

Bosch Sensortec GmbH (Germany) was ranked the third in the e-compass market. The company produces 3-axis, 6-axis and 9-axis sensors with low-power features which have application in consumer electronics, automotive, and other industries. Bosch Sensortec has leveraged its expertise and network in the IoT and automation domains to promote its e-compass sensors. The company has entered various partnerships and collaborations to expand its e-compass business. The company has diversified its market by entering the market in APAC and American region to generate higher revenues for its e-compass products. Bosch Sensortec has been releasing new products to strengthen its position in the market by launching 9-axis sensors which has been designed specifically for applications in wearables. It also has entered into a partnership with i-Blades (U.S.) through which Bosch Sensortec would integrate its sensor solutions to the i-blades smartcase platform. 

Related Reports:

E-Compass Market by Technology (Fluxgate, Hall Effect, Magnetoresistive), Type (1&2 Axis, 3 Axis, 6 Axis, 9 Axis), Application (Consumer Electronics, Aerospace & Defense, Automotive, Surveying, Marine) and Geography - Global Forecast to 2022

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