The global digital compass market is segmented on the basis of technology, application, sensor type, and region. In terms of technology, the market can be segmented into fluxgate, Hall Effect and magnetoresistive. The digital compass market is classified on the basis of application into consumer electronics, aerospace and defense, automotive, marine, and surveying. On the basis of sensor type, the market is classified into 1- & 2-axis, 3-axis, 6-axis, and 9-axis sensors. The market is segmented in terms of geographical regions into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA).
Asia Pacific economies are expected to lead the digital compass market because many consumer electronics buyers of digital compass antennas are situated in this region. Also, the mobile electronics products deploying these sensors are in demand and the demand is increasing, which is resulting in the growth of the Asia Pacific economies in the digital compass market. Low labor costs and huge demand potential are expected to help India and China emerge as worldwide hubs for digital compass manufacturing industries.