Motion Sensors Market
Motion sensors have become an inseparable part of modern technical devices. Such sensors are used widely in smartphones, smart wearables, virtual reality devices, and even autonomous vehicles. Therefore the market is significantly technology-dependent and higher perspective. Smart devices and electric cars may represent the present and the future of human history. Even though the pandemic dealt a considerable blow to the global economy and decreased demand for certain products, that may not be the case with electronic devices and particularly motion sensors. An unprecedented rapid increase in demand for various electronic devices was recorded during the lockdown. However, it may not have affected products, which depend on the motion sensors, as much. These products include vehicles and smartphones. Viewing manufacturers of these two categories as priority customers may help overcome revenue decline.
As already mentioned, the global market for motion sensors was relatively not influenced by the current pandemic. Hence, a decrease in sales and revenue may be closely linked with the decline of competitive advantages and incorrect market analysis. There are two potential markets, which should be considered as a sufficient perspective. Demand for both autonomous vehicles and smartphones decreased during the pandemic. Nevertheless, as restrictions are weakened and lockdown may be canceled, these two products may become significantly demanded. As Marker Motion technologies do not put becoming the largest company in the sector as its primary goal, concentrating attention on the vehicle market may be more beneficial.
Marketing Program
The autonomous automobile market is a relatively new and rapidly developing market. There are no huge players established yet, and it offers significant opportunities. As manufacturers require motion sensors for their vehicles, they should become the priority customers for Marker Motion. Therefore, product use and application may become an essential part of the overall positioning strategy. The product should be developed and adopted for a specific purpose in order to attract possible clients. To achieve this goal research and development facilities of the company should adopt the product to meet the requirements. The produced motion sensors may be positioned as innovative, high-technology units, which are specifically designed for autonomous vehicles. Such an approach may contribute to customer satisfaction in the segment and allow Marker Motion to gain a foothold in the market.
As already mentioned, the smart automobile market is not fully established and is in high demand for innovations. Major car corporations tend to invest in costly projects to develop a competitive product. For the mentioned reason, these companies may value technological innovation and quality over price. It is crucial for Marker Motion to pursue the same goals in order to meet the needs of the targeted market. Moreover, there are several companies, which already produce significant amounts of cars in the segment, for example, Tesla. Such organizations may not be interested in motion sensors as they already have suppliers. Marker Motion should contact companies, which expressed a desire to enter the market, yet are at early stages of development. Direct mail, digital marketing, and public relation may be the most effective communication channels to fulfill the goal. The formation of trustful business relationships with new players in the market may contribute to the establishment of a loyal customer base. As the smart vehicle market is estimated to increase rapidly during the next five years, it may also allow Marker Motion to grow proportionately.