Press release
Global Inertial Measurement Unit (IMU) Market Size to Grow at a CAGR of 12.7% in the Forecast Period of 2022-2027
Inertial Measurement Unit (IMU) Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 12.7%
The rapid induction of manned and unmanned aircrafts and unmanned aerial vehicles is driving the demand for inertial measurement units. The increasing efforts by the sovereign nations to enhance war fighting capabilities is further propelling the incorporation of corrected and tested defence equipment.
Inertial measurement unit is also crucial for global positioning system (GPS), which is witnessing a high demand in automobiles, smartphones, fitness trackers, and various other electronic products. The increasing adoption of consumer electronics due to the rising disposable income is propelling the Inertial measurement unit (IMU) market.
Meanwhile, IMU are likely to witness significant demand from sports training machines. These machines require IMU to precisely measure the force and angle of sporting equipment to rectify and enhance sports performance of an athlete. Over the forecast period, the anticipated increase in sporting activities among youth is bolstering the demand for inertial measurement units.
In terms of region, the Asia Pacific region accounts for a significant share of the market. The increasing expenditure of aerospace and defence, leading to progressive product launches, is the major inertial measurement unit market driving factor. The increasing per capita income, across emerging economies such as India and China, is propelling the demand for consumer electronic, which in turn, is augmenting the market growth.
Inertial Measurement Unit (IMU) Industry Definition and Major Segments
Inertial measurement unit refers to an electronic equipment which contains various measurement tools. These tools can measure numerous properties of a device, including direction, velocity, acceleration, and angular rate, among others. Measurement of these devices allows proper monitoring, testing, improvement and correction of industrial equipment.
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Based on component, the market can be segmented into:
• Accelerometres
• Gyroscopes
• Magnetometres
• Others
The market can be broadly categorised based on technology into:
• Mechanical Gyro
• Ring Laser Gyro
• Fibre Optic Gyro
• MEMs
• Others
On the basis of grade, the market has been divided into:
• Marine Grade
• Navigation Grade
• Tactical Grade
• Space Grade
• Commercial Grade
By platform, the market has been classified into:
• Airborne
• Ground
• Maritime
• Space
The significant end-uses of the product include:
• Aerospace and Defence
• Consumer Electronics
• Automotive
• Marine/Naval
• Others
On the basis of region, the market can be categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Inertial Measurement Unit (IMU) Market Trends
The key trends in the global inertial measurement unit market include the technological advancements in the aerospace and defence industry. Robust upgradations of marine arsenal, including submarines and aircraft carriers, are generating a great demand for marine grade IMUs.The emergence of virtual reality in gaming platforms and military training arenas is another crucial market trend. Inertial measurement units are capable of tracking human body movements including hands, legs, and face, among others.
Meanwhile, the growing research and development activities across the automotive industry leading to a rampant production of new energy vehicles is a key market driving trend. Over the forecast period, the anticipated increase in demand for accelerometer is likely to aid the inertial measurement unit market (IMU).Moreover, the rapid adoption of consumer electronics, such as laptops, high performance computers, and tablets, in enterprises, healthcare, and transportation, among others, is likely to fetch greater revenue in the market.
The growing exploration activities across the metal and mining sector and increasing application of iron are generating a significant demand for magnetometre, thereby, leading to further market growth.The robust investments towards innovation and advancements of IMUs is also likely to be among the key market bolstering trends which are aimed towards efficiently catering to the demands of the end use industries.
Key Market Players
The major players in the inertial measurement unit (IMU) market report are:
Analog Devices, Inc
Gladiator Technologies
Honeywell International Inc
Safran Sensing Technologies Norway AS
Thales Group
Trimble, Inc
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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