Newark, Aug. 02, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global inertial measurement unit market will grow from USD 20.72 Billion in 2023 to USD 39.26 Billion by 2033. The inertial measurement unit is an electronic tool that utilizes accelerometers, gyroscopes, and magnetometers to determine velocity, angular rate, orientation and gravitational forces. It functions as a crucial device in navigation and guidance systems for tracking the position of vehicles by measuring movement aspects such as speed or direction. This technology finds utility across various fields like navigation correction techniques, control stabilization measures, testing measurements, mobile mapping activities, and unmanned system monitoring endeavours. Inertial measurement units generate data that are input into computer programs for processing needed in determining the actual current location using time-varying velocities known from their use inside the inertial Navigation System (INS).
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Key Insight of the Inertial Measurement Unit Market
Asia Pacific region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, Asia Pacific is expected to grow at the highest CAGR within the global inertial measurement unit market. The Asia Pacific region will significantly expand. China, Japan, and South Korea are key regions in the consumer electronics industry within the Asia-Pacific region. Consumers here highly demand advanced electronic devices like smartphones, tablets, and wearable technology, which fuels interest in IMUs for screen orientation capabilities, motion sensing, and activity tracking functionalities. Ongoing technological developments alongside new products introduced to this market contribute significantly to its growing dependence on IMUs. The Asia-Pacific region is experiencing accelerated growth in the industrial automation and robotics sector, driven by the urgent need for improved productivity and efficiency in manufacturing procedures. The adoption of industry 4.0 principles and the integration of digitization into industrial operations present favourable prospects for IMUs. These devices play a critical role in achieving precise motion control and stability of automated systems or robots. China and Japan, spearheading this trend, are investing heavily in the development and implementation of advanced robotic systems, thereby contributing to the regional market growth and development.
The accelerometers segment is expected to grow at the highest CAGR during the forecast period.
The component segment includes gyroscopes, accelerometers, magnetometers and others. The accelerometers segment is expected to grow at the highest CAGR during the forecast period. Advancements in MEMS technology, the growing demand for consumer electronics and an increasing number of autonomous systems are driving the dynamics of the accelerometer market. The evolution of MEMS accelerometers is characterized by enhanced accuracy, resolution and power efficiency, enabling novel applications across smartphones, wearables and IoT devices. Further fueling this momentum is the automotive industry's focus on safety, comfort and automation - leading to a greater need for accelerometers within ADASs (Advanced Driver-Assistance Systems) and vehicle stability control mechanisms while also being essential components in autonomous driving features. In addition to these sectors, aerospace & defense industries rely heavily on high-performance sensors such as accelerometers- vital towards flight controls during aircraft operations or even missile guidance along with structural health monitoring purposes, among other key aspects that warrant dependable performance standards.
The automotive segment is expected to grow at the highest CAGR during the forecast period.
The application segment includes aerospace & defence, automotive and commercial. The automotive segment is expected to grow at the highest CAGR during the forecast period. IMU adoption is influenced by the dynamics of the automotive sector, which are shaped by safety regulations, technological advancements and consumer preferences. The demand for ADAS features like IMUs that help with pedestrian detection and collision avoidance has been fueled by an increased focus on vehicular safety within this industry. Furthermore, autonomous driving technology development presents exciting opportunities for suppliers of these sensors in areas such as sensor fusion systems combined with perception software. As there's a wider-spread trend towards electric vehicles (EVs) being manufactured alongside smart cars - integrating advanced functionalities provided through telematics applications is anticipated to boost the market growth in the upcoming years.
Recent Developments:
• In April 2021: Northrop Grumman Corporation supported NASA Jet Propulsion Laboratory's Perseverance Rover with vital components and essential navigation. The Perseverance Rover uses pressuring tanks for the Gas Dust Removal Tool (GDRT) and propellant tanks for the controlled descent element. Northrop Grumman's LN-200S inertial measurement unit (IMU) provides attitude and acceleration information for guidance.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 6.6% |
| 2033 Value Projection | USD 39.26 Billion |
| Market Size in 2023 | USD 20.72 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Component, Application |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Inertial measurement unit market Growth Drivers | Growing Adoption of Automation |
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Market Dynamics
Driver: Growing Adoption of Automation
The rise of automation in manufacturing and the widespread implementation of industrial robots have elevated the need for IMUs to achieve accurate motion control and stabilization. With their assistance, automated systems can perform intricate tasks with precision and consistency. The industry 4.0 trend is bolstering digital technologies integration into industry operations, fuelling this surge in demand for IMUs.
Restraint: Complexity and Integration Issues
The global inertial measurement unit market poses complexity and integration issues. The intricate manufacturing processes and stringent quality control measures required for producing high-quality IMUs make it highly complex. Precise calibration and integration with multiple sensing elements like accelerometers, gyroscopes, and magnetometers add to this complexity. Any deviations or errors during the manufacturing stage can potentially cause significant performance issues that could jeopardize the reliability and accuracy of IMU results.
Opportunity: Growth of Consumer Electronics Industry
The IMU market is experiencing growth due to the demand arising from the consumer electronics sector. This surge in demand can be attributed to various devices such as wearable technology, gaming consoles, tablets and smartphones requiring IMUs for several functions like motion sensing, screen orientation and activity tracking. The rise of technologically advanced gadgets coupled with an increase in smart device usage has given impetus to this development.
Some of the major players operating in the Inertial Measurement Unit Market are:
• ACEINNA Inc.
• Safran SA
• Adafruit Industries LLC
• Analog Devices Inc.
• Northrop Grumman Corp.
• Honeywell International Inc.
• KVH Industries Inc.
• L3Harris Technologies Inc.
• M5Stack Technology Co. Ltd.
• MEMSIC Semiconductor Co. Ltd.
• Murata Manufacturing Co. Ltd.
• Parker Hannifin Corp.
• Robert Bosch GmbH
• Gladiator Technologies Inc.
• TDK Corp.
• Thales Group
• Trimble Inc.
• STMicroelectronics NV
• Texas Instruments Inc.
Key Segments Cover in the Market:
By Component:
• Gyroscopes
• Accelerometers
• Magnetometers
• Others
By Application:
• Aerospace & Defense
• Automotive
• Commercial
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channel analysis.
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