Press release
Inertial Measurement Unit Market | Big Changes to Have Big Impact | Key Player – Gladiator Technologies, Honeywell International Inc., Bosch Sensortec GmbH, Thales Group, Parker Hannifin Corp
An inertial measurement unit is an electronic device, which is used to measure velocity, angular rate, orientation & gravitational forces through the use of accelerometers, gyroscopes & magnetometers. Inertial measurement units are used as components of navigation & guidance system in order to track the position, velocity, and orientation of a vehicle. Inertial measurement units are used in navigation & correction, control & stabilization, measurement & testing, mobile mapping, and unmanned system control. In an inertial navigation system, the data collected from inertial measurement units are processed by computer in order to determine current position based on velocity & time.
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COVID-19 Scenario analysis:
Due to COVID-19 situation,the ongoingresearch & development in inertial measurement unit has been adversely affecteddue to the declared lockdowns and government restrictions on public gatherings.
Slowing sign in economies of several countries has been observed due to COVID-19 effect, which may limit governments investment in their defenseprojects. Such reduction in investment will directly affect the growth in inertial measurement unit market.
Travel restrictions and reduction in military activities due to COVID-19,has also adversely effected growth of inertial measurement market, as supply chain of related spare parts has been disturbed.
Demand may rise extensively in global inertial measurement unit market in upcoming quarter as industry’s production has started to get momentum after tough phase of COVID-19.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increase in investments in autonomous cars, rise in demand for accuracy in navigation, availability of miniaturized components at affordable prices, and emergence of MEMS systems are some of the major factors which drive the growth of the global inertialmeasurementunit market. However, high costs involved in packaging of MEMS inertial measurement unit sensorsis restraining the growth of the inertial measurement unit market.Contrarily, increasing investments in autonomous cars can be opportunistic for the growth of inertial measurement unit market.
Increasing investments in autonomous cars
Autonomous cars are equipped with several sensors such as motion sensor to capture data about their attributes for controlling motion. Inertial measurement units are used in autonomous cars to measure the position and orientation. In addition, such vehicles are equipped with several electronic systems such as backup aid systems, autonomous brake systems, forward collision warning systems and others. Most of such electronic systems are controlled by inertial measurement units. Hence, increasing investments in autonomous cars will further contribute in the growth of global inertial measurement unit market.
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Key Benefits
This study presents the analytical depiction of theinertial measurement unit industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global inertial measurement unit market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global inertial measurement unit market growth scenario.
Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the market.
The report provides a detailed global inertial measurement unit market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in inertial measurement unit market research report:
Which are the leading market players active in the global inertial measurement unit market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps?
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