New York, Nov. 30, 2022 (GLOBE NEWSWIRE) — As per the research report “Digital Compass Market” published by Reports Insights, the market is anticipated to surpass USD 29.9 Billion by the year 2030 at a CAGR rate of 12.6% from USD 11.6 Billion in 2022.
A digital compass (e-compass) is a device utilized to gain an accurate determination of the directions through tracking the Earth’s magnetic field. Multiple components are used for developing the e-compass such as the accelerometer, gyroscope, and magnetometer combined with the gravity of the device. Typically, the majority of e-compasses include the embedded MCU which deducts the automobile magnetic field (the distortion) from the intensified earth magnetic fields, providing a highly precise compass reading.
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The high demand for digital compasses among aerospace, military, and defense boosts the market growth due to the precise determination of the North Pole via the integrated microcontrollers within the e-compass. In the context of the general population, trail makers, hikers, bikers, and mapmakers greatly rely on such e-compasses due to reduced risks of encountering disruptive interferences during adventurous activities.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 29.9 Billion |
| Study Timeline | 2018-2030 |
| CAGR (2022-2030) | 12.6% |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Report Coverage | Total Revenue Forecast, Company Ranking and… |
