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Rising Smartphone Sales And Shipments Bolster Growth In The Inertial Measurement Unit Market : Key Factor Driving The Growth In The Inertial Measurement Unit Market
Inertial Measurement Unit
What Is the Expected Inertial Measurement Unit Market Size During the Forecast Period?
The market size for inertial measurement units has experienced robust growth in recent years. Projected figures suggest an increase from $23.43 billion in 2024 to $25.09 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.1%. The historical growth trend of this sector can be traced to factors such as an increase in aerospace and defense uses, higher integration in consumer electronics, the uptake of automotive safety features, growing demand for geospatial and mapping applications, and increased demand in industrial machinery.
A significant surge is expected in the inertial measurement unit market size in the forthcoming years, reaching $34.17 billion by 2029 with a compound annual growth rate (CAGR) of 8.0%. This growth during the forecast period can be associated with the escalating demand in the areas of healthcare and medical devices, the growing usage of drones and UAVs, the continued development of autonomous vehicles, the increasing use of satellite navigation and GNSS augmentation, and the rising interest towards smart agriculture. Key trends for the forecast period encompass MEMS IMus, sensor fusion technology, miniaturization trend, the application of Kalman filtering, and inertial sensing in the healthcare sector.
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What Are the High-Growth Segments in the Inertial Measurement Unit Market?
The inertial measurement unit market covered in this report is segmented -
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
Subsegments:
1) By Accelerometers: MEMS Accelerometers, Capacitive Accelerometers, Piezoelectric Accelerometers
2) By Gyroscopes: MEMS Gyroscopes, Ring Laser Gyroscopes, Fiber Optic Gyroscopes
3) By Magnetometers: Fluxgate Magnetometers, Hall Effect Magnetometers, Magnetoresistive Magnetometers
4) By Other Components: Microcontrollers, Signal Processors, Power Supply Components
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What Key Drivers Are Expected to Influence Future Inertial Measurement Unit Market Growth?
Rising sales of new smartphones and an upward trend in shipment growth fuel the expansion of the inertial measurement unit market. These IMUs are a crucial part of a smartphone, enabling various applications like navigation, gaming, fitness, and more. Popular features such as step counting, gesture recognition, and image stabilization are a handful of IMU's applications. For example, as per the data from a US-based non-government organization, Demandsage, in December 2023, the global number of smartphone users is projected to hit 7.10 billion in 2024, with an increase to 7.70 billion expected by 2027. Further, it's projected that the smartphone penetration rate in the United States would touch 82.20% in 2023, a rise from 76.50% in 2022. Hence, the swift surge in new smartphone sales and shipment is set to enhance the inertial measurement unit market.
Which Companies Hold the Largest Share Across Different Inertial Measurement Unit Market Segments?
Major companies operating 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 Trends Are Driving Growth in The Inertial Measurement Unit Market?
Leading organizations operating in the inertial measurement unit market are prioritizing the development of innovative technological solutions, with a specific emphasis on products such as LSM6DSV16X. This advanced device is the first inertial measurement unit (IMU) to incorporate a charge-variation feature, enhancing precision and responsiveness for motion tracking. The charge-variation mechanism also offers enhanced performance in dynamic situations. For example, STMicroelectronics Pvt Ltd, a globally recognized electronics firm based in Switzerland, unveiled an advanced 6-axis IMU embedded with sensor fusion and artificial intelligence in November 2022. The LSM6DSV16X integrates ST's Sensor Fusion Low Power technology, AI, and an adaptive self-configuration feature, delivering exceptional power efficiency. Its cutting-edge design supports complex edge processing, making it ideal for various applications such as 3D phone mapping, gesture identification, and continuous activity monitoring. Moreover, with an improved finite state machine and machine learning core, it effectively identifies rapid events and self-regulates settings for optimal performance.
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What Are the Emerging Geographies for The Inertial Measurement Unit Market Growth?
North America was the largest region in the inertial measurement unit market in 2024, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the inertial measurement unit market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Inertial Measurement Unit Market?
2. What is the CAGR expected in the Inertial Measurement Unit Market?
3. What Are the Key Innovations Transforming the Inertial Measurement Unit Industry?
4. Which Region Is Leading the Inertial Measurement Unit Market?
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