Inertial Measurement Unit Market Size, Trends, Share

 

Inertial Measurement Unit Market

The Inertial Measurement Unit (IMU) Market is estimated to grow at a higher CAGR over the forecast period.

The factors driving the growth of Inertial Measurement Unit Market includes rise in the production of smartphones around the world, emerging need to replace the ageing aircrafts and increasing use of unmanned ariel vehicles by militaries. According to the report published by Bloomberg, the Global Unmanned Ariel Vehicle Market is estimated around USD 32,350 million for 2022 and is predicted to reach USD 72,320 million by the end of 2028, growing at a CAGR of 14.4% over the forecast period (2022-2028), which will accelerate the Inertial Measurement Unit Market share in the coming years. Moreover, Technological advancements in the Inertial Measurement Unit, rise in Government’s spending on the Defense sector, increase in the number of defense-based start-ups and rapid growth in the aircraft deliveries, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, growing demand for accurate navigation systems, changing nature of warfare and rapid urbanization, are further contributing to the market growth.

Request a free sample of this report

However, the growth of Inertial Measurement Unit Market is hindered because the inertial measurement units are not able to provide accurate location.

Based on the Platforms, the satellites/space vehicles segment is estimated to expand at a significant CAGR over the forecast period

Increasing application of Inertial Measurement Units in television broadcasting, satellite-based navigation, and weather forecasting along with its rising use in search and rescue operations, are some of the factors responsible for the segment’s growth.

Based on Grade, the commercial grade segment is estimated to expand at a remarkable CAGR during the forecast period

The Commercial Grade IMUs are extensively used in tablets and automobile airbag systems, are the major factors propelling the segment’s growth.

Based on Region, the Asia-Pacific region is projected to hold the highest market share between 2021 to 2026

Rapid growth in the automotive industry, growing demand for smartphones, rise in the number of commercial aircrafts, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.

Market Segmentation

Segmentation by Component

  • Accelerometers
  • Gyroscopes
  • Magnetometers
  • Other sensors

Segmentation by Technology

  • Mechanical Gyro
  • Ring Laser Gyro
  • Fiber Optic Gyro
  • MEMs
  • Others

Segmentation by Grade

  • Marine Grade
  • Navigation Grade    
  • Tactical Grade          
  • Space Grade              
  • Commercial Grade 

Segmentation 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

Segmentation by End User

  • Aerospace and Defense
  • Commercial

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Location: United States

Comments

Post a Comment

Popular posts from this blog

Seizing the Europe Smart Home Market Opportunity

Image
 The Europe smart home market presents a vast and promising opportunity for businesses and consumers alike. With advancements in technology, changing lifestyles, and increasing awareness about energy efficiency, the smart home industry in Europe is ripe with potential for growth and innovation. The opportunity in the Europe smart home market stems from several key factors. Firstly, the region boasts a large and affluent consumer base that is increasingly embracing connected technology to enhance their lifestyles. From smart thermostats and lighting systems to security cameras and voice-controlled assistants, the demand for smart home devices is on the rise across the continent. Moreover, supportive regulatory initiatives and incentives aimed at promoting energy efficiency and sustainability are creating a conducive environment for the adoption of smart home technology in Europe. Tax incentives, rebates, and subsidies for energy-efficient home upgrades are encouraging homeowners to...
Read more

Unlocking Opportunities: GCC Medical Packaging Market Growth in 2024

Image
The GCC medical packaging market is poised for substantial growth in 2024, driven by factors such as technological advancements, increasing healthcare spending, and a focus on patient safety. The region's growing population, coupled with rising demand for quality healthcare services, is fueling the expansion of the medical packaging sector. Let's explore the key drivers and opportunities contributing to the growth of the GCC medical packaging market this year. One of the primary drivers of market growth is the continuous innovation in medical packaging technologies. Companies are investing in advanced packaging materials, designs, and functionalities to meet the evolving needs of healthcare providers and patients. Smart packaging solutions equipped with sensors, RFID tags, and tracking capabilities are enhancing product safety, supply chain visibility, and real-time monitoring. This technological progress is driving the adoption of intelligent packaging solutions and fueling m...
Read more

Riding the Wave: India Wireless Earphone Market Surges Amidst Growing Demand

Image
 The India Wireless Earphone Market is witnessing remarkable growth, buoyed by an increasing demand for wireless audio solutions and a shift towards a wireless lifestyle. With consumers seeking convenience, mobility, and superior audio quality, wireless earphones have emerged as a must-have accessory in today's digital age, driving significant market expansion. One of the key drivers of growth in the India Wireless Earphone Market is the rising penetration of smartphones and smart devices. With smartphone ownership becoming ubiquitous across urban and rural areas, there is a growing need for wireless earphones that complement these devices seamlessly. As consumers look for hassle-free connectivity and on-the-go audio solutions, the demand for wireless earphones continues to surge, fueling market growth. Moreover, technological advancements in wireless audio technology are driving market expansion. Innovations such as true wireless earbuds, active noise cancellation, and advanced B...
Read more