Global Digital Compass Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026

MarketResearch.biz delivers in-depth insights on the global digital compass market in its upcoming report titled, “Global Digital Compass Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global digital compass market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global digital compass market report has been segmented on the basis of application type, product type and region.

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Digital compass is small device that informs the user about his current position and navigates in alignment with earth’s magnetic field. Digital compass commonly uses magnetometer sensor and microelectromechanical systems (MEMS). Digital compass is used in GPS devices, mobiles, tablets, watches, and e-compass for accuracy of the location. Digital compass can interface with electronic navigation equipment such as chart plotter, radar, and autopilot. It can be operated from any remote location without any magnetic interface. Using electronic operating system, digital compass can nullify magnetic deviation and incorrect alignment, which will help end-user to receive navigation signals without any interference.

Increasing adoption of digital compass in various devices is a major driving growth factor of the target market in near future. Digital compass and GPS when combined together can provide enhanced positioning and precise information in portable navigation devices. Increasing adoption of this technology in construction, military, personal, industrial, transportation, and gaming sectors are expected to drive growth of the global market in the coming years. In addition, digital compass is a light weight and compact device, which makes it convenient while travelling, trekking, and hiking. Furthermore, increasing use of location tracking services has opened new opportunities for  players in the global digital compass market. However, GPS technology as a substitute to digital compass is expected to hamper growth of the target market to a certain extent.

The market in North America accounts for largest market share in terms of revenue, owing to high penetration of location-based services among consumers in the region. The market in Asia Pacific is expected to lead the global digital compass market over the forecast period, presence of large consumer electronics market in countries such as India, China, Japan, South Korea, etc.

Global Digital Compass Market Segmentation:

Segmentation by product application type:

• Industrial
• Personal
• Construction
• Transportation
• Aeronautics
• Defense

Segmentation by production type:

• LTE (Long Term Evolution)
• LTE-A (Long Term Evolution A)

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa