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The Inertial Measurement Unit (IMU) market encompasses significant changes, reflecting the increased demand for efficient detection of motion and navigation technologies across a wide range of industries. According to the majority of recent industry data, numerous key drivers are influencing the current situation of the IMU market.
One significant advancement is the growing usage of IMUs in autonomous cars and drones. With the advancement of driverless technology, the need for accurate and real-time detection of motion has become vital. IMUs are critical in delivering precise information on velocity, acceleration, and rotational rate, allowing these automobiles to navigate, settle down, and control their motions with high accuracy. As the autonomous car and drone businesses grow, the demand for improved IMUs is projected to rise.
Furthermore, downsizing of IMU parts is a notable industry trend. Developments within micro-electromechanical systems (also called MEMS) technology have allowed manufacturers to produce IMUs that are smaller, lighter, and more cost-effective without losing performance. This shrinking tendency is especially essential in situations where dimensions and weight are critical, such as wearables, consumer electronics, and medical devices. The ability to include high-performance IMUs into tiny devices offers up new avenues for invention and application.
Furthermore to size decrease, there is a strong trend toward the creation of IMUs with higher precision and dependability. Industries including aviation, defense, and robotics require IMUs that can provide accurate measurements even in harsh settings. Manufacturers are spending in R&D to improve sensor combination algorithms, calibration procedures, and overall IMU design to fulfill the severe precision requirements of these applications that require high performance.
Furthermore, the increasing prevalence of IMUs in augmented and virtual reality (VR/AR) activities is propelling the industry forward. IMUs help create an enhanced sense of immersion by correctly detecting the user's movements, allowing for realistic and flexible interactions within virtual environments. As the VR/AR industry expands beyond gaming into healthcare, education, and training, the need for outstanding performance IMUs is bound to increase, improving the entire user experience.
Another noteworthy trend is the incorporation of IMUs into Internet of Things (also known as IoT) devices. IMUs' capacity to give real-time motion data is useful for a variety of IoT applications, such as asset tracking, smart farming, and industrial monitoring. Businesses that include IMUs into IoT devices can obtain important insights regarding object movement and orientation, increasing productivity and enabling decision-making based on data.
Finally, the IMU market is seeing revolutionary trends as the demand for accurate motion sensing and navigational capabilities grows across a wide range of industries. IMUs are affecting the future of technology in a variety of applications, including autonomous vehicles and drones, wearable gadgets, aerospace, and IoT. The trends of shrinking, increased accuracy, incorporation in VR/AR and IoT gadgets, and use in autonomous systems all highlight IMUs' adaptability and expanding importance in today's technological world. As the requirement for accurate movement sensing grows, the IMU industry is projected to advance further, opening up potential for innovation and global expansion.
Inertial Measurement Unit Market Highlights:
Global Inertial Measurement Unit (IMU) Market Overview
Inertial Measurement Unit (IMU) Market Size was valued at USD 25.5 billion in 2022. The inertial measurement unit (IMU) market industry is projected to grow from USD 27.5 Billion in 2023 to USD 44.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.22% during the forecast period (2023 - 2030). Demand for New Planes is growing, as Is the Need for Precise Navigation Systems are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Inertial Measurement Unit (IMU) Market Trends
- Rapid modernisation of military equipment and defense systems drives the market growth.
The continuous upgrade of military hardware is one of the main drivers driving the market's CAGR for inertial measurement units, along with defense systems. Using autonomous navigation systems, fiber optic IMUs are frequently utilized in unmanned aerial vehicles (UAVs) that can fly in hostile weather. They are used for ISR (intelligence, surveillance, and reconnaissance) tasks as well as firefighting and bomb detection. Also, the widespread use of virtual and augmented reality (V/AR) systems, the creation of artificial worlds, and the measurement of changes in speed, orientation, and acceleration are boosting market expansion. Also, they serve as an orientation sensor for upcoming smartphones, tablets, and gaming consoles.
Other growth-inducing elements include technological breakthroughs such as the development of microelectromechanical (MEMS)-based IMUs that can be integrated with the Internet of Things (IoT). These novel nano-IMUs are extremely small and are widely employed in lightweight and tiny electronics. Additional factors, such as strong growth in the robotics industry and extensive research and development (R&D), are expected to boost the market even more.
According to the Office of Management and Budget, the United States spent $725 billion on national defense development in fiscal year 2020. This is equivalent to 11% of federal spending. As a result, this initiative is supporting market expansion. As a result, the inertial measurement unit (IMU) market revenue is increasing.
Inertial Measurement Unit (IMU) Market Segment Insights
Inertial Measurement Unit (IMU) Component Insights
The Inertial Measurement Unit (IMU) Market segmentation, based on component includes accelerometer, gyroscope and magnetometer. The gyroscope segment is expected to lead the market during the forecast period, accounting for 57% of the market in 2021. Gyroscopes are used in a variety of devices to calculate their actual velocity until these devices stabilise and provide an angular velocity measurement proportional to the applied external torque. They are used in a variety of aircraft. Gyroscopes are used in the defence industry. They're also used in a variety of industrial settings. Gyroscopes are widely used in consumer electronics and automotive applications.
Figure1: Inertial Measurement Unit (IMU) Market, by Component, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Inertial Measurement Unit (IMU) Technology Insights
The Inertial Measurement Unit (IMU) Market segmentation, based on technology includes Mechanical Gyro, Ring Laser Gyro, Fiber Optics Gyro, Microelectromechanical Systems (MEMs) And Others. During the forecast period, the microelectromechanical systems (MEMs)segment is expected to have the highest CAGR in the inertial measurement unit market. Because of their low weight and comparatively higher accuracy in a small package, these small, lightweight systems have an advantage over other types of IMUs. In the coming years, MEMS-based IMUs are expected to replace FOG IMUs in tactical grade performance applications.
Inertial Measurement Unit (IMU) Grade Insights
The Inertial Measurement Unit (IMU) Market segmentation, based on grades include Marine Grade, Navigation Grade, Tactical Grade, Space Grade, and Commercial Grade. The commercial grade category is predicted to develop at the quickest CAGR in the inertial measurement unit market during the forecast period. Commercial grade IMUs includes consumer and enterprise-grade IMUs. Consumer-grade IMUs are found in low-end applications such cell phones, tablets, and automobile airbag systems, whereas enterprise-grade IMUS are found in small unmanned aerial aircraft (UAVS).
Inertial Measurement Unit (IMU) Application Insights
Aircraft, Space Launch Vehicles, Missiles, Marine, Military Armored Vehicles, Unmanned Aerial Vehicles (UAVs), Unmanned Ground Vehicles (UGVs), Unmanned Marine Vehicles (UMVs)are the application segments of the Inertial Measurement Unit (IMU) Market data. Satellites/space vehicles are predicted to grow at the fastest Growth rate in the inertial measurement unit market during the forecast period. They are outfitted with advanced satellite telescopes for space research and are utilized for television broadcasts, phone calls, satellite navigation, and weather forecasting. They are also used for search and rescue efforts, as well as monitoring the ocean, wind currents, forest fires, oil spills, and airborne pollutants.
Inertial Measurement Unit (IMU) Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America accounted for the greatest revenue share. IMUs now have a large potential market due to increased production of helicopters and commercial jets. More than 60% of total US aerospace manufacturing is exported. As a result, foreign enterprises are drawn to the world's largest aerospace market in the United States, which employs a trained and welcoming workforce and provides a varied range of products and services via extensive distribution networks.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: INERTIAL MEASUREMENT UNIT (IMU) MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s inertial measurement unit (IMU) market accounts for the second-largest market share due to the Increase production speed and efficiency by adding more machines to manufacturing lines. Further, the German inertial measurement unit (IMU) market held the largest market share, and the UK inertial measurement unit (IMU) market was the fastest-growing market in the European region
The Asia-Pacific Inertial Measurement Unit (IMU) Market is expected to grow at the fastest CAGR from 2023 to 2030. This is due of rising demand for new aircraft and rising defense spending in developing countries such as India and China. Moreover, China’s inertial measurement unit (IMU) market held the largest market share, and the Indian inertial measurement unit (IMU) market was the fastest-growing market in the Asia-Pacific region.
Inertial Measurement Unit (IMU) Key Market Players & Competitive Insights
Leading market players are extensively spending in R&D to extend their product lines, which will help the inertial measurement unit (IMU) market grow even more. Important market developments include new product releases, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other firms. To grow and survive in a more competitive and increasing market environment, the inertial measurement unit (IMU )industry must provide cost-effective products.
Producing locally to reduce operational costs is a fundamental business strategy utilized by manufacturers in the worldwide inertial measurement unit (IMU) industry to benefit customers and expand the market sector. The inertial measurement unit (IMU) industry has provided some of the most significant benefits to medicine in recent years. Major players in the inertial measurement unit (IMU) market include General Electric Company (US), Gladiator Technologies Inc. (US), Honeywell International Inc. (US), Lord Microstrain (US), Northrop Grumman Corporation (US), Safran Electronics & Defense (France), and others.
Honeywell International Inc. is a publicly listed American multinational firm headquartered in Charlotte, North Carolina. It principally does business in four areas: aircraft, building technologies, performance materials and technologies (PMT), and safety and productivity solutions (SPS). In January 2019, Honeywell announced the introduction of its online buying and selling platform for new and used aviation parts, which is now open for online transactions. Honeywell can conduct some of its transactions online thanks to blockchain technology, and it is the first corporation to use blockchain technology to build confidence between buyer and seller.
STMicroelectronics N.V., sometimes known as ST or STMicro, is a Dutch multinational corporation and technological company of Franco-Italian ancestry located in Plan-les-Ouates, Switzerland, and listed on the French stock exchange. ST is Europe's largest semiconductor contract manufacturing and design firm. In 1987, two government-owned semiconductor companies, Thomson Semiconducteurs of France and SGS Microelettronica of Italy, merged to form the company. In September 2022, The first automobile IMU with inbuilt machine learning was released by STMicroelectronics. With its machine-learning (ML) core, the ASM330LHHX Inertial Measurement Unit (IMU) enabled another step toward high-level autonomous smart driving. The ML core enabled speedy real-time reaction and advanced functions while consuming little system power.
Key Companies in the inertial measurement unit (IMU)market include
- Gladiator Technologies Inc. (US)
- General Electric Company (US)
- Lord Microstrain (US)
- Honeywell International Inc. (US)
- Safran Electronics & Defense (France)
- Northrop Grumman Corporation (US)
- Teledyne Technologies Inc. (US)
- Robert Bosch GmbH (Germany)
- Trimble Navigation Ltd (US)
- Thales Group (France)
- Vectornav Technologies LLC (US)
- United Technologies Corporation (US)
Inertial Measurement Unit (IMU)Industry Developments
In April 2019 In order to support the international markets as well as the specific law enforcement and defense industries in India, Thales and Kalyani Group announced their partnership for the development, production, and designing of the next-generation weapons systems.
In January 2019 In a statement, Honeywell discussed the use of blockchain technology that has been developed to increase trust between sellers and buyers.
In April 2019 In order to design, develop, and produce next-generation weapons systems for the Indian defense and law enforcement industries as well as for export, Kalyani Group and Thales have created a new partnership.
Inertial Measurement Unit (IMU) Market Segmentation
Inertial Measurement Unit (IMU) Market by Component Outlook
- Accelerometer
- Gyroscope
- Magnetometer
Inertial Measurement Unit (IMU) Market by Technology Outlook
- Mechanical Gyro
- Ring Laser Gyro
- Fiber Optics Gyro
- Microelectromechanical Systems (MEMs)
- Others
Inertial Measurement Unit (IMU) Market by Grade Outlook
- Marine Grade
- Navigation Grade
- Tactical Grade
- Space Grade
- Commercial Grade
Inertial Measurement Unit (IMU) Market by ApplicationOutlook
- Aircraft
- Space Launch Vehicles
- Missiles
- Marine
- Military Armored Vehicles
- Unmanned Aerial Vehicles (UAVs)
- Unmanned Ground Vehicles (UGVs)
- Unmanned Marine Vehicles (UMVs)
Inertial Measurement Unit (IMU) Regional Outlook
-
North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
-
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