Press release
Inertial Measurement Unit Market: Expanding at a CAGR of 8% to Hit $34.17 Billion by 2029
Inertial Measurement Unit Market
Forecast indicating Strong Market Performance Spurred by Integration of Consumer Electronics and Demand for Geospatial and Mapping Applications
What Is The Projected Market Size Of The Global Inertial Measurement Unit Market And Its Growth Rate?
The inertial measurement unit market is expected to see significant growth in the next few years due to a range of factors impacting the sector:
- The Market was valued at $23.43 billion in 2024, which is projected to reach $25.09 billion in 2025, growing at a compound annual growth rate (CAGR) of 7.1%.
- The growth drivers in this period include a rise in aerospace and defense applications, integration of consumer electronics, and rising demand for geospatial and mapping applications.
- The market is expected to further grow to $34.17 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%.
- Future growth is predicted to come from increasing demand in healthcare and medical devices, rising use of drones and uavs, growing interest in autonomous vehicles, satellite navigation and GNSS augmentation, and the increasing demand for smart agriculture.
What Is Driving The Growth In The Inertial Measurement Unit Market?
The inertial measurement unit market growth is being driven by increased smartphone sales and shipment growth. IMUs are a crucial component of smartphones, enabling a broad range of applications such as navigation, gaming, fitness, and others. An increase in applications such as gesture recognition and image stabilization, step counting which are becoming increasingly popular among consumers are further boosting the market growth.
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Who Are the Key Players Driving Inertial Measurement Unit Market Growth?
The key players in the inertial measurement unit market include:
- 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
What Are The Key Trends In The Inertial Measurement Unit Market?
Key trends in the forecast period include:
- MEMS IMUs
- Sensor fusion technology
- Miniaturization trend
- Use of Kalman filtering
- Inertial sensing in healthcare
What Are The Segments Of The Global Inertial Measurement Unit Market?
The global inertial measurement unit market is segmented into:
1) By Component: Accelerometers, Gyroscopes, Magnetometers, Other Components
2) By Grade: Marine Grade, Navigation Grade, Tactical Grade, Space Grade, Commercial Grade
3) By End Use Industry: Aerospace And Defense, Consumer Electronics, Marine Or Naval, Automotive, Other End Users
Which Region Leads The Inertial Measurement Unit Market?
North America was the largest region in the inertial measurement unit market in 2024. The region is also expected to experience the fastest growth during the forecast period. Other regions studied in the report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East and Africa.
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What Is Covered In The Inertial Measurement Unit Market Global Market Report?
- Market Size Analysis: Analyze the Inertial Measurement Unit Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Inertial Measurement Unit Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Inertial Measurement Unit Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Inertial Measurement Unit Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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