New Study from StrategyR Highlights a $23.6 Billion Global Market for Inertial Measurement Unit (IMU) by 2026

SAN FRANCISCO, March 16, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Inertial Measurement Unit (IMU) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 7; Released: February 2022
Executive Pool: 2781
Companies: 71 - Players covered include 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 and Others.
Coverage: All major geographies and key segments
Segments: Grade (Commercial, Navigation, Space, Tactical, Marine); Component (Gyroscopes, Magnetometers, Other Components)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; India; South Korea; Taiwan; Rest of Asia-Pacific; Latin America; Rest of World.

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ABSTRACT-

Global Inertial Measurement Unit (IMU) Market to Reach $22.3 Billion by 2026
Inertial measurement units (IMUs) represent an advanced sensor technology that brings together various tools for measuring angular velocity, linear acceleration and magnetic strength of desired objects. Growth in the global market is being propelled by increasing focus on navigation accuracy, expansion of aircraft fleet, mass production of mobile devices, strong demand for advanced missiles and launch of miniaturized components. The market growth is also benefitted by rising investments to modernize the defense and military along with increasing reliance of unmanned aerial vehicles on autonomous navigation for operating in harsh weather conditions. These platforms are finding increasing use in bomb detection and firefighting as well as intelligence, surveillance and reconnaissance (ISR) activities. The IMU market is bound to receive a major stimulus from technological advances associated with micro-electromechanical systems (MEMS) coupled with micro-machining and fabrication of high-end sensors. Automotive is rapidly emerging as a promising area for high-performance IMUs due to advances related to applications including safety measures, crash detection and stability control systems. Notable strides towards L5 autonomous driving are anticipated to present huge opportunities for IMU-based MEMS sensors for motion, acceleration and Light Detection and Ranging (LiDAR) systems.

Amid the COVID-19 crisis, the global market for Inertial Measurement Unit (IMU) estimated at US$17.6 Billion in the year 2022, is projected to reach a revised size of US$22.3 Billion by 2026, growing at a CAGR of 5.4% over the analysis period. Commercial, one of the segments analyzed in the report, is projected to grow at a 5.4% CAGR to reach US$9.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Navigation segment is readjusted to a revised 5.8% CAGR for the next 7-year period. This segment currently accounts for a 22.5% share of the global Inertial Measurement Unit (IMU) market. Growth in the commercial electronics segment is being driven by rising uptake of consumer electronic devices like smartphones, GPS-enabled consumer electronics devices and wearable devices. Navigation systems built on IMUs play a critical role in aviation and space applications owing to their ability to reliably offer location coordinates. These benefits are driving the acceptance of miniaturized IMUs in designing and development of satellite systems and unmanned aerial vehicles.

The U.S. Market is Estimated at $4 Billion in 2022, While China is Forecast to Reach $6.7 Billion by 2026
The Inertial Measurement Unit (IMU) market in the U.S. is estimated at US$4 Billion in the year 2022. The country currently accounts for a 23.34% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$6.7 Billion in the year 2026 trailing a CAGR of 6.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR while Rest of European market (as defined in the study) will reach US$7.2 Billion by the end of the analysis period. The North American market is buoyed by sizeable federal investments, robust demand for commercial aircraft and continuing advances in the field of micro-electromechanical (MEMS) systems. The regional market is witnessing high uptake of sophisticated inertial systems in the aircraft and maritime industries for defense and commercial applications. The Asia-Pacific region (including China) is making a positive contribution to the market on account of strong focus of new players on using MEMS to develop sophisticated technology. Increasing defense budgets in emerging economies like India and China along with significant growth of air travel and investment in new aircraft are poised to bolster the regional market. Rising disposable income and continuous expansion of the middle-class population coupled with the resulting demand for automobiles and smartphones is likely to amplify IMU demand.

By Grade, Space Segment to Reach $3.7 Billion by 2026
Space-grade IMUs are commonly used in space navigation applications that require enhanced accuracy, mainly during dynamic flight phases like ascent, entry, descent and landing of a spacecraft. The segment is anticipated to gain from rising investment in space-related research & exploration activities and increasing number of satellite launches. In the global Space segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2 Billion will reach a projected size of US$2.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$729.5 Million by the year 2026.
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.