Inertial Measurement Unit (IMU) Global Market to Reach $33.5 Billion by 2027: IMU-Driven Inertial Navigation is Key for Future Driving


Dublin, Feb. 17, 2023 (GLOBE NEWSWIRE) -- The "Inertial Measurement Unit (IMU): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Inertial Measurement Unit (IMU) estimated at US$17.1 Billion in the year 2020, is projected to reach a revised size of US$33.5 Billion by 2027, growing at a CAGR of 10.1% over the analysis period 2020-2027.

Commercial Grade IMU, one of the segments analyzed in the report, is projected to record a 10.1% CAGR and reach US$13.7 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Navigation Grade IMU segment is readjusted to a revised 10.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $4 Billion, While China is Forecast to Grow at 12.2% CAGR

The Inertial Measurement Unit (IMU) market in the U.S. is estimated at US$4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.8 Billion by the year 2027 trailing a CAGR of 12.2% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Latin America and Other Asian countries, each forecast to grow at 10.6% and 11.8% respectively over the 2020-2027 period. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.8 Billion by the year 2027.

Select Competitors (Total 94 Featured) -

  • Analog Devices Inc.
  • Bosch Sensortec GmbH
  • Gladiator Technologies
  • Honeywell International Inc.
  • Northrop Grumman Corporation
  • Parker Hannifin Corp.
  • Safran Electronics & Defense
  • STMicroelectronics
  • TDK Corporation
  • Teledyne Technologies
  • Texas Instruments
  • Thales
  • Trimble Navigation
  • VectorNav Technologies

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Report Metrics:

Report AttributeDetails
No. of Pages485
Forecast Period2020 - 2027
Estimated Market Value (USD) in 2020$17.1 Billion
Forecasted Market Value (USD) by 2027$33.5 Billion
Compound Annual Growth Rate10.1%
Regions CoveredGlobal

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • IMU Market Long Term Prospects & Outlook
  • Prominent Drivers Aiding Growth of IMU Market
  • Accumulated Error Linked with IMU-based Navigation: A Growth Inhibitor
  • Global Economic Update
  • World Shifts to an Endemic COVID-19 Strategy With Focus on Multilateral Approach to Managing Future Pandemic
  • War, Inflation & High Cost of Living Crisis: Major Downside Risks for the Global Economy in 2022 & Beyond
  • Inflationary Pressures Impact Global Economy
  • Russia-Ukraine War Impact
  • Subdued Industrial Activity during Pandemic Induces Weakness into Inertial Measurement Unit Market
  • Competitive Scenario
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 71 Players Worldwide in 2022 (E)
  • Inertial Measurement Units (IMU): Power-Packed Technology to Measure Acceleration, Velocity & Magnetic Strength of Objects
  • Key Components & Working of IMUs
  • Major Applications of IMUs
  • Limitations of IMUs
  • Space Launch: A Key Growth Segment
  • Segmental Insights by Component
  • Regional Analysis: While Developing Regions Intensify Demand, North America Claims Big Slice of Global IMU Market
  • Recent Market Activity
  • Select World Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • The Rise of Inertial Navigation System Provides the Foundation for the Growth of Inertial Measurement Unit (IMU) Market
  • IMUs as Backbone of Inertial Navigation Systems
  • Powered by IMU, Inertial Navigation Takes Vehicle Control & Balance to Next Level
  • Autonomy Gets Big Boost from Inertial Navigation Systems
  • IMU-Driven Inertial Navigation is Key for Future Driving
  • Players Focus on IMUs for Demanding Industrial Environments
  • Consumer Electronics: A Major Market for IMUs
  • Smartphone Usage Trends Favor Growth
  • Expanding Role of Electronics in Automotive Vehicles Accelerates Growth Momentum
  • Advanced IMUs to Considerably Enhance Operational Safety and Positioning of AVs
  • Rising Spending on Industrial Automation Projects to Boost Market Prospects
  • IMUs Induce Sophisticated Navigation & Tactical Functionalities in Aerospace & Defense Systems
  • Aerospace Industry: Staged Recovery over Long-Term to Boost Prospects
  • Spending Patterns in the Defense Sector to Strengthen Growth Prospects
  • Proliferation of UAVs/Drone to Drive Demand for Inertial Measurement Unit (IMU)
  • IMUs as Essential Components of UAVs
  • IMUs & Gyro Stabilization Ensure Super Smooth Flight for Drones
  • Surveying Made Easier with IMU
  • IMU Sensors Streamline Functioning of Mobile Robots
  • Rising Emphasis on Precision Agriculture Widens Addressable Market
  • MedTech Industry's Digital Makeover Offers String Growth Potential
  • Wearables Emerge as Lucrative Vertical
  • Uptrend in MEMS Domain Favors Growth
  • Technology Innovations & Advancements Continue to Drive Growth

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/sgezv9

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Global Market for Inertial Measurement Unit (IMU)

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