Press release
Guiding Precision: The Evolution of Inertial Measurement Units
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=6372&type=smp
According to The Business Research Company's, The inertial measurement unit market size has grown strongly in recent years. It will grow from $22.08 billion in 2023 to $23.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to rise in aerospace and defense applications, rise in integration of consumer electronics, adoption of automotive safety, rise in demand for geospatial and mapping applications, rise in demand in industrial machinery.
The inertial measurement unit market size is expected to see strong growth in the next few years. It will grow to $32.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to increasing demand in healthcare and medical devices, rising use of drones and uavs, increasing growth of autonomous vehicles, rising satellite navigation and gnss augmentation, increasing demand for smart agriculture. Major trends in the forecast period include mems imus, sensor fusion technology, miniaturization trend, use of kalman filtering, inertial sensing in healthcare.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/inertial-measurement-unit-global-market-report
Market Drivers and Trends:
The increase in new smartphone sales and shipment growth propels the inertial measurement unit market. IMUs are a vital component of smartphones, allowing for a wide range of applications such as navigation, gaming, fitness, and others. The features such as step counting, gesture recognition, and image stabilization are a few applications of IMU, which are growing increasingly popular among consumers. According to IBEF, in 2021, year on year, smartphone shipments in India rose by 11%, from 150 million in 2020 to 168 million in 2021. Smartphone shipments are expected to stay at 187-190 million in 2022, with 5G device shipments rising by 129% year on year from 28 million in 2021 to approximately 64 million in 2022. Therefore, the rapid growth in new smartphone sales and shipment is expected to boost the inertial measurement unit market.
Technological advancements are a key trend gaining popularity in the inertial measurement unit market. There has been a recent development in the next generation of micro-electromechanical systems (MEMS) inertial sensor technology. These new, better-performance MEMS sensors will employ alternative sensor designs and circuit designs to improve performance in autonomous UAV (unmanned aerial vehicle) and UGV (unmanned ground vehicle) platforms, including future urban air mobility aircraft. For instance, in January 2021, Honeywell International, a technology and manufacturing firm that provides solutions and technologies for energy, safety, and security received financing from the US Defense Advanced Research Projects Agency (DARPA) to work on the next generation of MEMS inertial sensor technology for commercial and defense navigation applications.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Bosch Sensortec GmbH, Thales Group, Sensonor AS, Analog Devices Inc., Gladiator Technologies, Honeywell Aerospace Inc., Northrop Grumman Corporation, Safran SA, General Electric Company, Kearfott Corporation, KVH Industries Inc., Collins Aerospace Systems, Systron Donner Inertial Inc., Israel Aircraft Industries Ltd., L3Harris Technologies Inc., VectorNav Technologies Corp., SBG Systems, Beijing Navgnss Integration Co. Ltd., BeiJing StarNeto Technology Co. Ltd., MEMSIC Inc., Epson Europe Electronics GmbH, MicroStrain Inc., Xsens Technologies B.V., Memsense LLC, STMicroelectronics NV, ACEINNA Inc., NXP Semiconductors N.V., TDK Corporation
Inertial Measurement Unit Market 2024 Key Insights:
• The inertial measurement unit market size is expected to see strong growth in the next few years. It will grow to $32.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Rising Smartphone Sales And Shipments Bolster Growth In The Inertial Measurement Unit Market
• Technological Breakthroughs Drive Growth In The Inertial Measurement Unit Market
• North America was the largest region in the inertial measurement unit market in 2023, and it is expected to be the fastest-growing region in the forecast period
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=6372&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Guiding Precision: The Evolution of Inertial Measurement Units here
News-ID: 3734214 • Views: …
More Releases from The Business Research Company
Global High-Resolution Anoscopy Market Outlook 2025-2034: Trends, Innovations, A …
The High-Resolution Anoscopy Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the High-Resolution Anoscopy Market Size and Projected Growth Rate?
The market size for high-resolution anoscopy has experienced significant growth over the past few years. The market is predicted to increase from $15.03 billion…
Condyloma Acuminata Treatment Market Size Projected To Reach $2.2 Billion By 203 …
"The Condyloma Acuminata Treatment Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Condyloma Acuminata Treatment Market Size During the Forecast Period?
In the past few years, the condyloma acuminata treatment market has seen significant growth. The market value, which is anticipated to…
Household Type Fans Market Forecast 2025-2034: Comprehensive Analysis And Growth …
"The Household Type Fans Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the Household Type Fans Market?
The market size for household fans has seen consistent expansion in recent years. The projections indicate an increase from $32.22 billion in 2024…
Grain Fumigants Industry Report 2025-2034: Market Dynamics, Trends, And Forecast …
The Grain Fumigants Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Grain Fumigants Market Size During the Forecast Period?
The Grain Fumigants Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This…
More Releases for Inertial
Global Tactical Inertial Systems Market Size by Application, Type, and Geography …
According to Market Research Intellect, the global Tactical Inertial Systems market under the Aerospace and Defense category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The tactical inertial systems market is witnessing substantial growth, driven by the increasing demand for precise navigation and…
Industrial Inertial Systems Market Set for Explosive Growth| SBG Systems, Systro …
Advance Market Analytics published a new research publication on "Industrial Inertial Systems Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Industrial Inertial Systems market was mainly driven by the increasing R&D spending across the world. Some of the key…
Navigating the Skies: Enhancing Drones with Inertial Navigation | Advanced Navig …
Drone Inertial Navigation Systems Market 2023 Forecast: Unveiling Opportunities and Growth
Drone Inertial Navigation Systems market report presents an overview of the market on the basis of key parameters such as market size, revenue, sales analysis and key drivers. The market size of global Drone Inertial Navigation Systems market is anticipated to grow at large scale over the forecast period (2023-2029). The main purpose of the study report is to give…
MEMS Inertial Device Market: Market for Microelectromechanical Systems (MEMS) In …
Global MEMS Inertial Device Market Overview:
The MEMS Inertial Device market is a broad category that includes a wide range of products and services related to various industries. This market comprises companies that operate in areas such as consumer goods, technology, healthcare, and finance, among others.
In recent years, the MEMS Inertial Device market has experienced significant growth, driven by factors such as increasing consumer demand, technological advancements, and globalization. This growth…
Industrial Inertial Systems Market Professional Survey Report 2022 - Aeron Syste …
The Industrial Inertial Systems Market study report provides all the information related to the industry. It gives the outlook of the market by giving the authentic data to its client which benefits to make essential decisions. It gives an overview of the market which includes its explanation, applications and developments and manufacturing technology. This Industrial Inertial Systems market research report tracks all the current developments and innovations in the market.…
Vehicle Inertial Sensor Market Overview Industry Demand, Development And Growth …
QY Research has recently published a new report, titled Vehicle Inertial Sensor Market Report, History and Forecast 2015-2026, Breakdown Data by Manufacturers, Key Regions, Types and Application. The report has been put together using primary and secondary research methodologies, which offer an accurate and precise understanding of the Vehicle Inertial Sensor market. Analysts have used a top-down and bottom-up approach to evaluate the segments and provide a fair assessment of their…
