Inertial Measurement Unit Market Size, Share, Trends & Growth Analysis Report

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? INERTIAL MEASUREMENT UNIT MARKET 7500
COMPANIES WORLDWIDE APPROACH US EVERY YEAR FOR
THEIR REVENUE GROWTH INITIATIVES IKnNOeWrtMiaOlREM
e(a/Ksnouwrleedgmesteorne.atsUprneqiutesMt_farere
k_treiatl) Size, Share, Trends Growth Analysis
by Component (Accelerometer, Gyroscope,
Magnetometer, Others), Grade (Marine, Navigation,
Tactical, Space, Commercial), Technology (MO,
RLG, FOG, MEMS), Platform, End User and Region
2021-2026 FREE BROCHURE (/pdfdownloadNew.asp?id
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by marketsandmarkets.com DESCRIPTION TABLE OF
CONTENTS METHODOLOGY DOWNLOAD PDF
(/PDFDOWNLOADNEW.ASP?ID148851976) Updated on
March 14, 2023 The Inertial Measurement Unit
Market is estimated to be USD 21.3 billion in
2021 and is projected to reach USD 40.7 billion
by 2026, at a CAGR of 13.8 during the forecast
period. The growth of this market is mainly
driven by the highvolume production of
smartphones, increase in demand for missiles and
rise in aircraft deliveries.
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OVID-19 Impact on the
Inertial Measurement Unit Market
(/)
The inertial measurement unit market includes
major players General Electric (US), Honeywell
(US), Bosch H(OGMeErm(/) anAyB)O,UST
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CAREERS (/CAREER.ASP) CONTACT US
(/CONTACTUS.ASP) has impacted their businesses as
well.
Inertial Measurement Unit Market
Dynamics Drivers High volume production of
smartphones The increase in new smartphones sales
and shipments across the globe is one of the key
factors driving the growth of the IMU market.
According to International Data Corporation
(IDC), the shipment volume of smartphones reached
1,292.2 million units in 2020. The demand for
smartphones is strong in the largest markets such
as China, the US, Brazil, Japan, etc. The
penetration of smartphones is increasing
significantly in countries with a high gross
population such as India, Nigeria, and Pakistan,
and will fuel the growth of the smartphones
market during the forecast period. Additionally,
many smartphones include inertial measurement
units that normally include a gyro sensor,
accelerometer, and magnetometer. The IMUs
installed in smartphones enable them to measure
the gait, tremor, and movement characteristics of
humans. Therefore, increasing shipment of
smartphones is driving the growth of the inertial
measurement unit market. Opportunities Booming
VR and AR technologies AR is a technology that
uses the existing environment to overlay new
information on top of it, whereas VR provides the
user with a virtual environment with the help of
hardware and software equipped in a computing
device. It also provides a fully immersive
environment where the user can interact with
objects similar to those in the real world. AR is
used to enhance the visual experience using
virtual tools such as graphics, digital images,
and simulations to add a new layer of interaction
with the real environment. VR can create a
virtual world with computer-generated and
machine-driven reality. IMU is a key component
used to measure speed, orientation, and specific
gravity or acceleration to augment VR into the
real world. Increasing product launches is also
driving the growth of the market. For instance,
in 2018, Bosch Sensortec launched the BMI085, a
6-axis high-performance IMU. It includes a 3-axis
16-bit MEMS acceleration sensor and a 3-axis
16-bit MEMS gyroscope in a single package. The
BMI085 provides responsive motion sensors,
enhanced precision, robustness, and reduced time
lag. This makes the device ideal for
high-performance AR/VR applications Challenges
Error propagation Stable platform IMUs depend on
various mechanical parts inter-connected to each
other with different joints for their
functioning. These joints need to be frictionless
to avoid any measurement error. With continued
usage and wear and tear, the errors caused due to
friction increase, which, in turn, hampers the
performance of these systems. Apart from
friction, there are a few computational errors
that are induced as a result of noise and drifts.
For instance, MEMS inertial sensors encompass
very tiny mechanical components weighing in
micrograms. These parts are so light that they
occasionally fail to react to small changes with
respect to orientation. Thus, friction and drifts
induce a measurement error, which gets propagated
in the long run.
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ure angular velocity in three dimensions is
expected to fuel the growth of the he inertial
measurement unit market during the forecast
period. s estimated to lead the market during the
forecast period, with a share of 57 in (2/)021.
Gyroscopes are used in various devices to
calculate their actual velocity until these
devices stabilize and provide the measurement of
the angular velocity proportional to the external
torque applied. They are used in
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Increasing need to meas gyroscope segment in
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applications. Gyroscopes are extensively used in
the consumer electronics and automotive
industries. They are widely used in smartphones,
owing to their orientation and rotation
measurement capabilities.
The MEMS segment is projected to witness the
highest CAGR during the forecast period. Based on
technology, the MEMS segment is projected to be
the highest CAGR rate for the inertial
measurement unit market during the forecast
period. These small, lightweight systems have an
advantage over other types of IMUs due to their
less weight and comparatively higher accuracy
with a compact size. MEMS- based IMUs are
expected to replace FOG IMUs in tactical grade
performance applications in the coming
years. The commercial grade segment is projected
to witness the highest CAGR during the forecast
period. Based on the grade, the commercial grade
segment is projected to grow at the highest CAGR
rate for the inertial measurement unit market
during the forecast period. Commercial grade IMUs
include consumer grade IMUs and enterprise-grade
IMUs. Consumer grade IMUs are used for low-end
applications such as phones, tablets, automobile
airbag systems, etc., while enterprise-grade IMUs
are used in small UAVs. The satellites/space
vehicles segment is projected to witness the
highest CAGR during the forecast period Based on
platform, the satellites/space vehicles segment
is projected to grow at the highest CAGR rate for
the inertial measurement unit market during the
forecast period. They are used for television
broadcasting, telephones, satellite-based
navigation, and weather forecasting and are
equipped with sophisticated satellite telescopes
for space research. They are also used for search
and rescue missions as well as monitoring ocean,
wind currents, forest fires, oil spills, airborne
pollution. The commercial segment is projected
to witness the highest CAGR during the forecast
period. Based on the end user, the commercial
segment is projected to grow at the highest CAGR
rate for the inertial measurement unit market
during the forecast period. IMUs serve as
orientation sensors in many consumer products.
Low-cost IMUs have enabled the proliferation of
the consumer drone industry. They are also
frequently used in the sports industry, like in
technique training, and animation
applications. The Asia Pacific market is
projected to contribute the largest share from
2021 to 2026 The majority of the Asia Pacific IMU
market is accounted for by consumer electronic
products. In addition, according to the
Shipbuilders' Association of Japan, Asia Pacific
accounts for a 96 share of the global merchant
shipbuilding industry. As per OICA, car
manufacturers in China and Japan alone
constituted 42.8 of the global car production in
2020. Asia Pacific has a monopoly in industries
such as consumer electronics, marine, and
automobiles.
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The inertial masurement unit market is dominated
by a few globally established players such as
General Electric (US), Honeywell (US), Bosch
(Germany), Safran (France), and Northrop Grumman
(US). Scope of the Inertial Measurement Unit
Market Report
Report Metric Details
Estimated Market Size USD 21.3 billion by 2021
Projected Market Size USD 40.7 billion by 2026
CAGR 13.8
Market size available for years 20172026
Base year considered 2020
Forecast period 2021-2026
Forecast units Value (USD Million)
Segments covered By Component, By Technology, By Grade, By Platform, By End User
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s covered
North America, Europe, Asia Pacific, and Rest of
the World
Geographie Companies
General Electric (US), Honeywell (US), Bosch
(Germany), Safran (France), and Northrop Grumman
(US)
covered
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technology, grade, platform, end CAREERS
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and by region. By Component Accelerometers
Gyroscopes Magnetometers Other sensors By
Technology Mechanical Gyro Ring Laser Gyro Fiber
Optic Gyro MEMs Others By Grade Marine Grade
Navigation Grade Tactical Grade Space Grade
Commercial Grade By Platform Aircraft
Missiles Satellites/Space Vehicles Marine
Vessels Military Vehicles Unmanned Aerial
Vehicles (UAVs) Unmanned Ground Vehicles (UGVs)
Unmanned Marine Vehicles (UMVs) Consumer
Electronics Automotive Survey Equipment Advanced
Air Mobility By End User
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Commercial By Region
North America Asia Pacific
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Developments In June 2021, Safran Electronics
Defense, a long-standing leader in inertia,
unveiled Geonyx M, its first amphibious inertial
navigation system, designed for and with marine
commandos. Geonyx M reaps the advantages of
technologies and feedback from other Safran
Electronics Defense product ranges, including
Geonyx (land vehicles), Argonyx (surface
vessels), and Black-Onyx (submarines). This
legacy enables it to deliver a true breakthrough
in terms of performance, reliability, precision,
and robustness. In April 2021, Pipistrel selected
Honeywells next-generation Attitude Heading
Reference System and Air Data Module for its
Nuuva V300 cargo unmanned aerial vehicle (UAV).
The technologies provide critical navigation and
motion-sensing data and will work in tandem with
Honeywells Compact Fly-By-Wire system onboard
the aircraft. In February 2021, Northrop Grumman
Corporation provided key navigation and critical
components to support NASA Jet Propulsion
Laboratorys Perseverance Rover. The Perseverance
Rover utilizes Northrop Grummans LN-200S
inertial measurement unit (IMU) to provide
attitude and acceleration information for
guidance, as well as pressurant tanks for the
Rovers Gas Dust Removal Tool (GDRT) and
propellant tanks for the Rovers controlled
descent element. Frequently Asked Questions
(FAQ)
What are your views on the growth prospect of the inertial measurement unit market?
What are the key sustainability strategies adopted by leading players operating in the inertial measurement unit market?
What are the new emerging technologies and use cases disrupting the inertial measurement unit market?
Who are the key players and innovators in the ecosystem of the inertial measurement unit market?
Which region is expected to hold the highest market share in the inertial measurement unit market?
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