Inertial Measurement Unit Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Inertial Measurement Unit Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global inertial measurement unit market size reached US$ 21.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.4 Billion by 2028, exhibiting a growth rate (CAGR) of 13.4% during 2022-2028.

The inertial measurement unit (IMU) refers to a self-contained system used for measuring the linear and angular motion of an object. Some of the commonly used devices in an IMU include, precision gyroscopes, accelerometers and magnetometers. The gyroscope can measure the rotational speed and rate of an object, a magnetometer is used to measure the magnetic strength of the signal and an accelerometer is used for measuring movement and orientation of the objects. They are widely used in helicopters, civil and military aircraft, armored vehicles, drones, missiles, robots and various consumer electronic products.

The rapid modernization of military equipment and defense systems represents one of the key factors driving the growth of the market. Fiber optic IMUs are widely used with autonomous navigation systems in unmanned aerial vehicles (UAVs) that can operate in extreme weather conditions. They are utilized for firefighting, bomb detection and intelligence, surveillance and reconnaissance (ISR) activities. Furthermore, the widespread product adoption for virtual and augmented reality (V/AR) systems and generating artificial environments and measuring alterations in speed, orientation and acceleration is providing a thrust to the market growth. They are also used as an orientation sensor in next-generation smartphones, tablets and gaming devices. Additionally, various technological advancements, such as the development of microelectromechanical (MEMS)-based IMUs that can be integrated with the Internet of Things (IoT), are acting as other growth-inducing factors. These innovative nano-IMUs are highly compact and are extensively used in lightweight and miniaturized devices. Other factors, including significant growth in the robotics industry, along with extensive research and development (R&D) activities, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global inertial measurement unit market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, grade, technology and end use industry.

Breakup by Component:

Accelerometers

Gyroscopes

Magnetometers

Breakup by Grade:

Marine Grade

Navigation Grade

Tactical Grade

Space Grade

Commercial Grade

Breakup by Technology:

Mechanical Gyro

Ring Laser Gyro

Fiber Optics Gyro

MEMS

Others

Breakup by End Use Industry:

Consumer Electronics

Aerospace and Defense

Automotive

Others

Breakup by Region:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Analog Devices Inc., General Electric Company, Honeywell International Inc., Northrop Grumman Corporation, Robert Bosch Gmbh, Safran, STMicroelectronics SA, Teledyne Technologies Inc., Texas Instruments Incorporated, Thales Group, Trimble Inc. and Vectornav Technologies LLC.

Key Questions Answered in This Report:

How has the global inertial measurement unit market performed so far and how will it perform in the coming years?

What are the key regional markets?

What has been the impact of COVID-19 on the global inertial measurement unit market?

What is the breakup of the market based on the component?

What is the breakup of the market based on the grade?

What is the breakup of the market based on the technology?

What is the breakup of the market based on the end use industry?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global inertial measurement unit market and who are the key players?

What is the degree of competition in the industry?