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 Attribute | Details |
| No. of Pages | 485 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $17.1 Billion |
| Forecasted Market Value (USD) by 2027 | $33.5 Billion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
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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