How Are Environmental Concerns Propelling Motion Sensor Market?

The major reasons behind the advance of the motion sensor market are the increasing demand for consumer electronics and surging adoption of automobiles. As a result, from $4,430.7 million in 2019, the industry value will rise to $7,590.8 million by 2030, at a 5.1% CAGR during 2020–2030 (forecast period). Such instruments detect nearby motion, either as part of a measurement system or automated industrial operation, or to alert users of a possible intrusion, when embedded in a perimeter security system.

The motion sensor market is bifurcated on the basis of technology into active and passive, of which the passive bifurcation held the larger share in 2019. This is attributed to the increasing demand for microelectromechanical system (MEMS) and passive infrared (PIR) motion sensors, the former of which is widely integrated in medical devices, consumer electronics, and industrial machines. The growing demand for these products is expected to lead to the market advance of the passive bifurcation at the higher CAGR during the forecast period.

Based on application, the categories in the industry are automobile, consumer electronics, building automation, medical device, and industrial equipment. In 2019, automobile was the largest category in the motion sensor market, due to the rising sales of electric and autonomous vehicles around the world. Motion sensors better the battery performance, electronic equipment stability detection, and navigation abilities, thereby improving the autonomous driving experience. During the forecast period, the fastest growth will be witnessed by the building automation category.

With the rising air pollution, as a result of the burning of fossil fuels at power stations, the demand for green buildings, which consume only the energy they produce themselves, is surging. Further, green or net-zero energy buildings (NZEBs) are envisioned to consume less energy than conventional buildings, enabled by the integration of building management systems. In such systems, motion sensors are used to automatically switch on or off heating, ventilation, and air conditioning (HVAC) equipment and lights, by sensing the presence of people in the room.

One of the major growth drivers for the motion sensor market is the increasing demand for consumer electronics, where motion-sensing instruments are finding wider application than before. For instance, in smartphones, motion sensors track the rotation of the device to tilt the screen. With the growing population around the world, the demand for consumer electronics is rising, especially among younger people. In addition, the people of developing countries are witnessing an increase in their earnings, which is allowing them to spend more freely on consumer electronic devices.

The burgeoning adoption of the internet of things (IoT) is predicted to offer lucrative opportunities to the market players over the forecast period. As per estimates by the Institute of Electrical and Electronics (IEEE), from 27 billion in 2017, the number of IoT-connected devices in use will rise massively to 125 billion. Together with IoT, motion sensors would give people an insight into the operational status of physical devices from a long distance. Additionally, motion sensors and IoT would be used for improving the automated operations of lights and HVAC systems.

Asia-Pacific (APAC) was the most-productive motion sensor market till 2019, and it will further grow the fastest during the forecast period. This is ascribed to the increasing uptake of consumer electronics in Japan, China, Indonesia, South Korea, India, and Thailand. India is projected to witness the fastest growth in the region due to its expanding electronics market, which, according to Invest India and the India Electronics and Semiconductor Association (IESA), will reach $400 billion by 2025.

Therefore, with the growth in the automotive and consumer electronics industries and rising awareness about decreasing the usage of electricity, the sales of motion sensors will continue to surge.

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Motion Sensor Market – Revenue Projection and Forecast, 2020-2030

In 2019, the motion sensor market value stood at $4,430.7 million, and it will witness a CAGR of 5.1% during 2020–2030, to reach $7,590.8 million by 2030, rising adoption of Internet of Things is one of the major opportunities for market players

How will Increasing Vehicle Complexities Fuel Surge of Automotive Repair Software Market in Asia-Pacific (APAC) in Future?

One of the major factors boosting the demand for automotive repair software is the increasing need for faster automotive repairing services across the globe. Automobiles have become more and more complex over the last few years and this has led to huge sophistication in the repairing procedures. Moreover, the repairing shops are increasingly adopting computerization in their processes in order to provide better services to the customers and manage various tasks such as appointment scheduling, inventory and parts management, and back-office operations more efficiently.

The other important factor fuelling the surge in the demand for automotive repair software is the increasing requirement of frequent maintenance and other types of services by vehicles all around the world. Since the last few years, there has been a massive rise in the average age of automobiles and this trend is expected to continue in the coming years. As a result, the demand for vehicle maintenance and other types of services will increase in future, which will in turn, boost the demand for automotive repair software.

Due to the above-mentioned factors, the global automotive repair software market generated revenue of $1,264.2 million in 2019, and it is expected to advance at a CAGR of 10.3% during the forecast period (2020–203. There are multiple services provided via automotive repair software — repair, maintenance, and normal vehicle servicing. Amongst these, the usage of such software would rise the fastest for offering repair services in the coming years. This is mainly attributed to the increasing utilization of the automotive repair software for vehicle repair and diagnostics.

The biggest trend currently being observed in the automotive repair software market is the rising incorporation of mobile platforms at service centers. Mobile phones not only eliminate the need for technicians and their constant movement between their computers and work stations but they are much more cost-effective than desktops and laptops. In addition to this, mobile phones have longer battery life and are much easier to handle and move around and are thus, being increasingly used at service stations.

Across the world, the Asia-Pacific (APAC) region is expected to register the fastest growth in the adoption of automotive repair software during the forecast period. This is primarily credited to the presence of a flourishing automotive industry and a large number of automobiles in the APAC region. Furthermore, the disposable income of the people living in the APAC region is increasing rapidly and this will boost their spending power in future, which will in turn, propel the adoption of various advanced technologies such as automotive repair software in the region in the coming years.

Hence, it is clear that the demand for automotive repair software will escalate throughout the world over the next few years, owing to the rising need for advanced automotive repairing and maintenance services and the increasing number of vehicles in the world.

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Automotive Repair Software Market | Industry Trends Report, 2030

The global automotive repair software market is poised to advance at a CAGR of 10.3% during the forecast period (2020–2030). Time saving and better communication advantages of such software and increasing number of vehicles in operation and their ave