Directory Image
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Inertial Measurement Unit (IMU) Market Growth Analysis & Forecast to 2022

Author: Sandeep Roy
by Sandeep Roy
Posted: Jan 11, 2019

The report "Inertial Measurement Unit (IMU) Market by Grade (Marine, Navigation, Tactical, Space, Commercial), Technology (RLG, FOG, MEMS), Application (Consumer Electronics, Aircraft, Missile, Marine, UAV, UGV, UMV), Component, and Region - Global Forecast to 2022", The inertial measurement unit market is projected to grow from an estimated USD 16.46 Billion in 2017 to USD 21.74 Billion by 2022, at a CAGR of 5.72% during the forecast period. Increasing demand for accuracy in navigation, high volume production of smartphones, and availability of miniaturized components at affordable prices are some of the key factors driving the inertial measurement unit market.

Get 10% Free Customization @

https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=148851976

Based on application, the space launch vehicle segment is estimated to be the fastest-growing application segment during the forecast period.

The space launch vehicle segment is estimated to be the fastest-growing application segment in the inertial measurement unit market during the forecast period. This growth is attributed to an increase in satellite launches and increasing space research and exploration activities.

Commercial grade inertial measurement units include consumer grade inertial measurement units and enterprise grade inertial measurement units. Consumer grade inertial measurement units are used for low-end applications such as phones, tablets, automobile airbag systems, etc. while enterprise grade inertial measurement units are used in small UAVs. The growth of the commercial grade segment can be attributed to the widespread use of compact MEMS inertial measurement units in consumer electronic products as well as automotive and industrial applications.

Based on technology, the MEMS segment held the largest market share in 2016. The large share can be attributed to technological advancements in MEMS that are resulting in its increased applicability in small aircraft and unmanned applications.

Asia Pacific is estimated to be the fastest-growing market during the forecast period. The growth is largely due to an increase in defense budgets of emerging countries such as India and China; the backing provided by these countries to develop homegrown technologies for the manufacture of missiles, fighter aircraft, and UAVs; and rise in the number of commercial aircraft manufacturers in the region.

Major players operating in the inertial measurement unit market include Honeywell (US), Northrop Grumman (US), Safran Electronics & Defense (France), Bosch (Germany), and STMicroelectronics (Switzerland). These key players offer inertial measurement units based on various technologies such as MEMS, Ring Laser Gyro (RLG), and Fiber Optics Gyro (FOG). These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and Asia Pacific.

Get Discount on Report @

https://www.marketsandmarkets.com/discountreports.asp?id=148851976

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™

701 Pike Street,

Suite 2175, Seattle,

WA 98101, United States

1-888-600-6441

Email: Newsletter@marketsandmarkets.com

About the Author

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.

Rate this Article
Leave a Comment
Author Thumbnail
Please or Join to add a comment.
Author: Sandeep Roy

Sandeep Roy

Flag of India
India

Member since: Nov 26, 2018
Total live articles: 107

Related Articles