11-Feb-2020 | Facts and Factors
Facts and Factors has authored “Inertial Measurement Unit Market By Product (Accelerometer, Gyroscope, and Magnetometer) By Technology (Mechanical Gyro, Ring Laser Gyro, Fiber Optics Gyro, MEMS, and Others) and By Application (Aircraft Missiles, Space Launch Vehicles, Marine, Military Armored Vehicles, Consumer Electronics, Automotive, and Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026”. Based on our analysis, the global inertial measurement unit market in 2019 is approximately USD 17,000 million and is anticipated to reach around USD 23,000 by 2026. The anticipated CAGR for the inertial measurement unit market is around 6% from 2020 to 2026.
The IMU is an electronic device that monitors and records the physical power, angular velocity, and sometimes body orientation of an object using a mixture of accelerometers, gyroscopes, and sometimes magnetometers. The working of IMU is based on detecting the current rate of acceleration of an object, as well as changes in its rotation attributes. The data is then fed to a controller that computes the current position and speed. Inertial measurement unit can be used to measure various factors, such as speed, angular rate, direction, specific force, acceleration, and magnetic fields. IMUs are sensing devices that utilize at least two types of sensors to measure the location of a host device in three-dimensional space. Inertial Measurement Unit industry was estimated at USD 17,000 million in 2019 and is expected to reach USD 23,000 million by 202, with a CAGR of 6% over the forecast period. For the last few years, IMUs have evolved as the key component for inertial navigation systems used to measure the movement of objects in regions where other modes of navigation systems can't operate.
Browse the full “Inertial Measurement Unit Market By Product (Accelerometer, Gyroscope, and Magnetometer) By Technology (Mechanical Gyro, Ring Laser Gyro, Fiber Optics Gyro, MEMS, and Others) and By Application (Aircraft Missiles, Space Launch Vehicles, Marine, Military Armored Vehicles, Consumer Electronics, Automotive, and Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026" report at https://www.fnfresearch.com/inertial-measurement-unit-market-by-product-accelerometer-gyroscope
The growth of the inertial measurement unit industry is driven primarily by increasing smartphone production and sales, tracking the real-time position of automobiles, increasing demand for navigational accuracy, increasing demand for missiles and aircraft. Additionally, rising demand from rapidly increasing end-use industries such as consumer electronics, automotive & transportation, and aerospace and defense sectors in emerging-country is bolstering the growth of the IMU industry. Moreover, due to its features such as lightweight, cheaper, smaller, portable, the ability of not altering the natural movement patterns, etc. are expected to further boost the market growth in the coming years. But, high operating and maintenance costs, combined with operational complexity and less defense budget in developing countries, are creating a major impediment to its market growth. However, in the forecast period, continuous development in commercial driverless automobiles and MEMS-based IMU and growing advances in Augmented Reality (AR) and Virtual Reality (VR) technologies are expected to create lucrative opportunities for IMU market.
On the basis of application, the consumer electronics segment held the maximum share of approximately 27% of the global inertial measurement unit market; the boost was the resultant of the digitization and huge demand of smartphones around the globe. The space launch vehicle segment is anticipated to be the fastest-growing application for the inertial measurement unit market during the forecast period. This growth is attributed to increasing space research and an increase in satellite launches.
The accelerometer in the product segment held the leading market share with around 45% of the global market share. Raising awareness among the population related to fitness along with the growing demand for smartwatches with accelerometer embedded in it is further bolstering the growth of this segment.
Based on technology, the MEMS segment retained the largest market share of around 44% in 2019. Significant shares are attributed to technological enhancements in MEMS, resulting in high applicability in UAVs, small aircraft and unmanned applications.
North America held a major share in the global Inertial Measurement Unit (IMU) market. It held a share of 27.00% in the global market in 2018. The growth of the market is attributable to the rising investment by the United States’ government in inertial navigation guidance systems.
Some of the essential players operating in the inertial measurement unit industry, but not restricted to include Gladiator Technologies, General Electric Company, Honeywell International Inc, Northrop Grumman Corporation, LORD Sensing, VectorNav Technologies, Robert Bosch GmbH, Thales S.A, Safran Electronics & Defense, Teledyne Technologies, Inc, Trimble Inc, STMicroelectronics N.V., and others.
This report segments the Inertial Measurement Unit Market as follows:
Global Inertial Measurement Unit Market: By Product Segmentation Analysis
Global Inertial Measurement Unit Market: By Technology Segmentation Analysis
- Mechnaical Gyro
- Ring Laser Gyro
- Fiber Optics Gyro
Global Inertial Measurement Unit Market: By Application Segmentation Analysis
- Space Launch Vehicles
- Military Armored Vehicles
- Consumer Electronics
Global Inertial Measurement Unit Market: Regional Segmentation Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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