Inertial Measurement Unit Market By Type (Marine Grade, Commercial Grade, & Industrial Grade), Component (Accelerometer, Gyroscope, & Magnetometer) & Region for 2024-2031

Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Inertial Measurement Unit Market Valuation – 2024-2031

The Inertial Measurement Unit Market is growing due to increased demand from industries such as consumer electronics, space, satellites, and defence. NASA is working on a variety of initiatives for its Artemis programme. Furthermore, the growing popularity of AR and VR is opening new options to integrate IMUs and other sensors to provide a novel manner of controlling actions. The market size surpasses USD 5.15 Billion valued in 2024 to reach a valuation of around USD 9.72 Billion by 2031.

This rapid expansion is being driven by the growing demand for intelligent systems that combine human expertise with artificial intelligence’s analytical power. This technology provides benefits like as increased decision-making and efficiency, making it appealing to a variety of sectors. The rising demand for cost-effective and efficient waterproof camera is enabling the market grow at a CAGR of 8.25% from 2024 to 2031.

Inertial Measurement Unit MarketDefinition/ Overview

The Inertial Measurement Unit (IMU) is a device that measures an object’s orientation, velocity, and acceleration with respect to an inertial frame of reference. It combines different sensor types, primarily accelerometers, gyroscopes, and, in some cases, magnetometers, to provide full motion data for a wide range of dynamic systems. The IMU is widely used in navigation, robotics, virtual reality, aerospace, and other fields, and its independence from external references increases its utility.

At the heart of an IMU are accelerometers and gyroscopes. Accelerometers detect linear acceleration along the x, y, and z axes by utilising the principle of inertia, which refers to an object’s resistance to changes in motion. In contrast, gyroscopes detect changes in rotational orientation by measuring angular velocity along these axes using the principles of angular momentum and precession.

IMUs are critical components in self-driving automobiles, allowing for precise navigation and safety. Despite cost challenges, the IMU business is critical to autonomous car development. IMU technology, with its sensors and MEMS developments, improves navigation accuracy, helping to drive the growth and development of self-driving cars in the automotive sector.

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Will Smartphone Sales Propel the Inertial Measurement Unit Market?

Smartphone sales are increasing exponentially worldwide, with a shipment volume of 1,292.2 million devices expected in 2020. Key markets such as China, the United States, Brazil, and Japan experience strong demand, while emerging economies such as India, Nigeria, and Pakistan see rising smartphone penetration.

Many smartphones have IMUs that include gyro sensors, accelerometers, and magnetometers, allowing them to detect human stride, tremors, and movement characteristics. As a result, the increasing shipping of smartphones greatly contributes to the growth of the inertial measurement unit market. Also rise in production of self -driving cars have resulted in increased demand for inertial measurement units as

What are  the Components Problems have Emerged as a Major Hurdle in the Developing Inertial Measurement Units Market?

The stable platform inertial measurement units market (IMU’s) relies on a variety of mechanical pieces that are interconnected with numerous joints to work. To prevent measurement errors, these joints must be frictionless. With continued use and wear and tear, friction-related errors increase, compromising the functionality of these systems. Dealing with friction is quite challenging

Apart from friction, there are a few computing problems caused by noise and drift. MEMS inertial sensors, for example, consist of incredibly small mechanical components weighing only a few micrograms each. These pieces are so lightweight that they occasionally fail to respond to minor changes in orientation. As a result, friction and drift cause a measuring mistake that propagates over time.

Category-Wise Acumens

Will Accelerometer Segment Drive the Inertial Measurement Unit Market?

Accelerometers lead the inertial measurement unit market (IMU) industry, owing to their widespread integration into consumer devices, particularly smartphones. Their critical significance in providing basic features like automated screen rotation and precise motion tracking makes them indispensable. Accelerometers have become ubiquitous components due to their low cost and versatility, integration into everyday gadgets encourages innovation in a wide range of sectors, including gaming and fitness tracking.

Gyroscopes are witnessing substantial growth in the IMU market as their applications spread across industries like as aerospace, automotive, and robotics. Their capacity to precisely measure rotational movements, which complements accelerometers’ ability to detect linear motion, makes them vital for applications that need orientation and stabilisation, such as drone navigation and virtual reality systems.

Will Commercial grade drive the Significant Demand for the Inertial Measurement Unit Market?

Commercial grade inertial measurement unit market (IMUs) is a primary driver of IMU market growth. These IMUs are designed to be cost effective, making them suitable for a wide range of industries and applications. One important aspect driving their expansion is the growing usage of IMUs in consumer electronics, where cost-effective components are critical for mass adoption. Smartphones, for example, use IMUs for a variety of tasks such as screen rotation, gaming, and fitness tracking, which drives demand for commercial-grade IMUs.

Furthermore, the automobile sector is a key market for commercial-grade IMUs. IMUs are becoming increasingly important in advanced driver assistance systems (ADAS), autonomous vehicles, and vehicle telematics for functions such as navigation, vehicle stabilisation, and inertial measurement-based tracking systems. Commercial-grade IMUs provide an appealing choice for automobile manufacturers looking to incorporate IMU technology into their vehicles while keeping costs under control.

With robots and automated factories showing up all over the place, the demand for super-tough, dependable industrial-grade IMUs is going through the roof! These little gadgets are key to getting everything positioned just right, moving smoothly, and navigating perfectly in all those automated setups. They're perfect for really intricate industrial environments where everything needs to be top-notch. And hey, as robots get smarter and start tackling more complex jobs, we're gonna need IMUs that are both incredibly accurate and affordable. Plus, since everyone's obsessed with making industrial processes perfect – like on those super-efficient assembly lines or during those ultra-strict quality checks – we're seeing industrial-grade IMUs being used even more. Down the road, with cool new stuff like self-driving carts, infrastructure monitoring, and even super-precise farming becoming common, these IMUs are going to be absolutely crucial. They're really helping to define the future of automation, wouldn't you say?

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Country/Region-wise Acumens

How will Manufacturers of inertial measurement unit Accelerate the Growth in the Asia Pacific Market?

The Asia-Pacific region? Yeah, it's set to be the biggest player in the IMU market for a while. Why? Well, think about ityou've got manufacturing giants like China and Japan cranking out tons of consumer electronics. And IMUs? They're everywhere – cell phones, gaming consoles, you name it. Plus, don't forget the booming car and shipbuilding industries there. They need IMUs for navigation, keeping things steady, and all sorts of systems. So, with all that demand, plus the region's tech smarts and manufacturing muscle, Asia-Pacific is basically ground zero for IMU growth.

A number of variables contribute to China’s position as the world’s largest market for IMUs. As a manufacturing powerhouse, China dominates global manufacture of consumer electronics such as smartphones, tablets, and wearables, which are ubiquitous in everyday life. These gadgets rely heavily on the basic components of IMUs, particularly accelerometers and gyroscopes, resulting in high demand for IMUs in China and abroad. Furthermore, the exponential growth of China’s domestic consumer electronics market, powered by rising disposable incomes and widespread tech adoption, drives up demand for IMUs within the country’s borders, resulting in a self-sustaining loop of consumption and manufacture.

How will Europe Region contain the Largest Market Share for the Inertial Measurement Unit Market?

Europe is really making waves in the world of Inertial Measurement Units (IMUs)! They hold the second largest piece of the market pie, and it's only getting bigger. Consider all the groundbreaking research happening, from self-driving cars to keeping a watchful eye on critical infrastructure like bridges and buildings – it's a goldmine of opportunities for IMU makers. Of course, these cutting-edge applications demand seriously specialized IMUs; they need to be robust and incredibly precise. To truly capitalize on this potential, European governments could invest heavily in R&D and foster collaborations between universities and businesses. Investing in research and development will not only accelerate the creation of innovative IMU technology but also help cultivate a flourishing ecosystem of IMU companies, suppliers, and tech experts right here on European soil.

Europe’s development as a prominent challenger in the IMU market is fuelled by its established industrial sectors, emphasis on quality and precision manufacturing, research of future applications, and supportive efforts aimed at encouraging innovation and collaboration. By harnessing these distinct characteristics, European IMU makers can compete in the global market and contribute to Europe’s leadership in innovative sensor technologies.

Competitive Landscape

The inertial measurement unit market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the market include

  • Honeywell International Inc
  • Northrop Grumman
  • Safran
  • Thales
  • Kearfott Corporation
  • KVH Industries, Inc
  • Collins Aerospace
  • EMCORE Corporation
  • IAI Tamam
  • General Electrics
  • Bosch

Latest Developments

  • In June 2021, Safran Electronics & Defence, a long-time pioneer in inertia, launched Geonyx M, its first amphibious inertial navigation system built for and with marine commandos. Geonyx M takes advantage of technology and inputs from existing Safran Electronics & Defence product lines, including Geonyx (land vehicles), Argonyx (surface vessels), and Black-Onyx (submarines). This legacy enables it to provide a genuine advance in terms of performance, dependability, precision, and resilience.
  • In April 2021, Pipistrel chose Honeywell’s next-generation Attitude Heading Reference System and Air Data Module for its Nuuva V300 cargo unmanned aerial vehicle (UAV). The technologies provide vital navigation and motion sensing data and will function in conjunction with Honeywell’s Compact Fly-By-Wire system onboard the aircraft.
  • In February 2021, Northrop Grumman Corporation supported NASA Jet Propulsion Laboratory’s Perseverance Rover in February 2021 by providing crucial navigation and critical components. The Perseverance Rover employs Northrop Grumman’s LN-200S inertial measurement unit (IMU) to give attitude and acceleration information for guidance, as well as pressurant tanks for the Rover’s Gas Dust Removal Tool (GDRT) and propellant tanks for the Rover’s controlled descent component.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2021-2031

Growth Rate

CAGR of 8.25% from 2024 to 2031

Base Year for Valuation

2024

Historical Period

2021-2023

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Type
  • Component
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World
Key Players

Honeywell International Inc, Northrop Grumman, Safran, Thales, Kearfott Corporation, KVH Industries, Inc, Collins Aerospace, EMCORE Corporation, IAI Tamam, General Electrics, Bosch

Customization

Report customization along with purchase available upon request

Inertial Measurement Unit Market, By Category

Type

  • Marine Grade
  • Commercial Grade
  • Industrial Grade
  • Navigation Grade
  • Space Grade

Component

  • Accelerometer
  • Gyroscope
  • Magnetometer

Region

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

Research Methodology of Market Research

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Reasons to Purchase this Report

Okay, so we're going to really get into the weeds of this market, using both qualitative and quantitative approaches. We're talking economics and all the less-obvious stuff too! You'll see the market value, down to the smallest segment, in USD Billion. We'll also tell you which region and market segment we think is going to be the rocketship – the one growing fastest and dominating. We'll show you how different regions are actually using the product/service and what's shaping the market there. Plus, we'll map out who's who in the competitive landscape, ranking the major players and calling out all the new service/product launches, partnerships, expansions, and acquisitions from the past five years. You'll get company profiles with the full story, including insights, SWOT analysis, and head-to-head product comparisons for the key players. We’ll give you our perspective on where things are now and where they're going, taking into account recent shifts, growth potential, the key drivers, and the challenges facing both emerging and established regions. We're even going to analyze the market through Porter's five forces and give you a clear Value Chain picture. Finally, we'll spell out the market dynamics and where we see the best opportunities popping up. And just so you know, you get 6 months of analyst support after you purchase – just in case!

Customization of the Report

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Pivotal Questions Answered in the Study

Some of the key players leading in the market include Honeywell International Inc, Northrop Grumman, Safran, Thales, Kearfott Corporation, KVH Industries, Inc, Collins Aerospace, EMCORE Corporation, IAI Tamam, General Electrics, and Bosch.
The Inertial Measurement Unit Market is estimated to grow at a CAGR of 8.25% during the forecast period.
The Inertial Measurement Unit Market was valued at around USD 5.15 Billion in 2024.
The Inertial Measurement Unit Market was valued at around USD 9.72 Billion in 2031.
The sample report for the Inertial Measurement Unit Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to proc

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