Inertial Measurement Unit (IMU) Market Size, Share and Industry Analysis, by Component (Accelerometers, Gyroscopes, and Magnetometers), By Technology (Mechanical Gyro, Ring Laser Gyro, Fiber Optics Gyro, MEMS and Others), By Platform (Airborne, Ground, Maritime, and Space), By End-use Industry (Aerospace & Defense, Consumer Electronics, Marine/Naval, Automotive and Others), and Regional Forecast, 2020 - 2027

The global inertial measurement unit (IMU) market size was USD 17.34 billion in 2019 and is projected to reach USD 24.91 billion by 2027, exhibiting a CAGR of 9.52% during the forecast period (2020 – 2027).

Inertial measurement unit (IMU) is an electronic device containing accelerometers, gyroscopes, and magnetometers that are used to measure the movement and orientation of objects. The accelerometer sensors can measure acceleration and velocity. The gyroscope measures the rotational rate and rotations, and the magnetometer is used to measure the magnetic field strength. These sensors can measure the current speed, turn rate, heading, inclination, and acceleration of any IMU integrated platform.  An IMU has the ability to provide a target location in three-dimensional space.

Moreover, in some applications, the measurement of accurate attitude and position is not the primary factor. In such applications, these instruments offer acceleration, and orientation changes over short durations to fulfill the needs of the application. Therefore, an IMU is used in multiple commercial as well as military applications including helicopters and commercial aircraft, civil aircraft, military aircraft, military armored vehicles, unmanned aerial vehicles, unmanned ground vehicles, unmanned marine vehicles, survey equipment, automated vehicles, smartphones, tablets, wearable devices, missiles, and space launch vehicles. Furthermore, the growing trend towards miniaturization is raising the demand for micro-sized IMU in the aviation, space, and consumer electronics industries.

Additionally, the growing usage of unmanned vehicles for military and commercial applications, the growing adoption of micro-electromechanical systems (MEMS), and the rising demand from consumers for equipment with better ergonomics are some factors that are driving the inertial measurement unit market growth during the forecast period. However, the accumulated error associated with the IMU system and outbreak of coronavirus is expected to hamper the market growth for the short term. Despite this,  growing development in driverless cars, evolving artificial intelligence (AI) technology to design automated robots, and booming augmented reality (AR) and virtual reality (VR) technologies are expected to create ample opportunities for high-end inertial systems.

LATEST TRENDS

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Growing Adoption of Miniaturized Devices to Reduce Overall System Size and Weight

The evolving technologies necessitate the incorporation of small-sized components and devices. This demand is increasing to design and develop highly efficient, portable, lightweight, and micro-sized systems with high performance and reliability. Therefore, the demand for miniaturized devices is increasing steadily from multiple end-use industries, including aerospace & defense, automotive, consumer electronics, and marine/naval, among others.

Moreover, space and aviation industry are very stringent in size and weight requirements. Also, integrated inertial navigation systems is crucial in space and aviation industry as it is used to provide accurate location coordinates. This led to an increase in demand for miniaturized IMU to design and develop unmanned aerial vehicles and satellite systems, among others. These miniature devices consist of micro-gyroscope, micro-accelerometers, and micro-magnetometers. Furthermore, with miniaturization, the size of the consumer electronics system is reducing; this has led to rising demand for micro-sized IMUs for smartphones, wearable devices, tablets, and other smart electronic devices.

DRIVING FACTORS

Growing Usage of Unmanned Vehicles for Military and Commercial Applications to Boost the Market

Evolving technologies, including machine learning (ML),  advanced navigation systems, and AI, are used to design smart robots that operate remotely or operate using sensor technology. These evolving technologies have led to an increase in the development of unmanned vehicles. These vehicles with IMU integrated autonomous navigation system can move from a base location (preprogrammed location) to a destination, by avoiding obstacles. Therefore, unmanned vehicles are largely used in various military applications such as fire and bomb fighting, ISR (Intelligent, surveillance, and reconnaissance) activities, security, and search and rescue, among others. Moreover, these vehicles can operate on different platforms such as air, land, and underwater. They are also used in commercial applications such as parcel delivery, ariel photography, and agriculture, among others. This growing usage of unmanned vehicles is driving the IMU market growth during the forecast period.

Growing Adoption of IMU In Variety of Consumer Electronics Devices to Fuel the Market

With the advancement in technology, the development of advanced consumer electronics devices is growing with each passing year. For instance, the evolution of mobile phones to smartphones increased their popularity among peoples. This led to an increase in demand for smartphones. Moreover, emerging 5G technology will further increase the development of smart mobile phones, smartwatches, and tablets in the coming years. Furthermore, owing to low cost, small size and power consumption, and high performance, IMUs are largely used in consumer electronics devices as an orientation sensor. Their increased adoption in consumer electronics devices is driving the growth of the inertial measurement unit market during the forecast period.

RESTRAINING FACTORS

Accumulated Error Associated with IMU Integrated Navigation Application to Restrain Market Growth

 An IMU can provide accurate data of several measured parameters such as acceleration, speed, direction, and magnetic field around an object. However, these devices used for navigation applications are suffering from accumulated error. IMU-integrated systems are always calculating the changes relative to itself. Therefore, while measuring, an IMU always rounds off small fractions, which further accumulate over time. This small manipulation can turn into a significant error. Owing to this disadvantage, the system is unable to provide an accurate actual location, which is likely to restrain the market growth. Despite this, the integration of IMU in a system coupled with the corrective technology can help to eliminate the accumulated error.

 Coronavirus Outbreak to Hamper Market Growth

The outbreak of the novel COVID-19 infection is expected to hamper the inertial measurement unit market growth for the short-term. Owing to lockdown,  manufacturing units of  IMU integrated systems have been closed down temporarily to reduce the spread of the infection among workers. This is one of the key market trends observed and affects the demand, development, and procurement of IMU- integrated systems, which directly hampers the growth of this market. However, the growing requirement for unmanned aerial vehicles (UAVs) for surveillance and parcel delivery is expected to increase the demand for IMUs in the coming years.

SEGMENTATION

By Component Analysis

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Growing Demand For Low-Cost MEMS Accelerometer is Expected to Aid Market Growth

Based on components, the inertial measurement unit market segments include accelerometers, gyroscopes, and magnetometers. Among these, the accelerometers segment held the largest market share owing to their use in consumer electronics devices. The accelerometer measures the acceleration of a coupled system or device. Therefore, it is largely used in applications such as smartphone orientation detection, earthquake detection, tablets, vehicle dynamics, medical devices, and tilt sensing, among others. Moreover, the growing trend of adoption of MEMS technology is led to increasing the adoption of a cost-efficient MEMS accelerometer during the forecast period.

The gyroscope segment is expected to grow with the fastest growth rate during the estimated time. This growth is attributed to the growing development and demand for UAVs for ISR applications. Also, the rising rate of aircraft deliveries is expected to increase the demand for gyroscope sensors.

By Technology Analysis

Growing Demand of MEMS Sensors to Achieve User’s Application Demand 

Based on technology, the market is segmented into a mechanical gyro, ring laser gyro, fiber optics gyro, MEMS, and others. Among these, the MEMS technology is growing at the fastest rate owing to increased adoption of MEMS sensors in a variety of industry applications such as aerospace & defense and consumer electronics. These sensors offer advantages such as high-performance metrics, low cost, low weight, and high reliability. Therefore, the growing demand for the MEMS accelerometer, MEMS gyroscopes, and MEMS magnetometers are upscaling the MEMS technology segment during the period 2020-2027.

By Platform Analysis

Rising Demand for IMU By Various Industry Verticals is Expected to Boost Market Growth

By platform, this market is classified into airborne, ground, maritime, and space. Among these, the ground segment is expected to dominate the inertial measurement unit market share during the forecast period. This dominance is due to the growing usage of inertial measurement units in aerospace & defense and commercial electronics and automotive industry applications. Moreover, IMUs are also used in a GPS-based vehicle tracking system and automotive navigation systems to provide accurate measurement of speed, specific force, acceleration, angular rate, and direction. Furthermore, they are also used as orientation sensors in multiple consumer electronic devices such as tablets, smartphones, and wearable devices, among others.

By End-use Industry Analysis

Growing Demand for Missiles Due to Geopolitical Tensions is Expected to Propel market Segment Growth

Based on the end-use industry, the global market is divided into aerospace & defense, consumer electronics, marine/naval, automotive, and others. Among these, the commercial electronics segment is expected to dominate the market during the estimated time. This large share is attributed to the increasing adoption of consumer electronic devices such as smartphones, wearable devices, and GPS enable consumer electronics devices, among others. Therefore, the growing adoption of consumer electronics products in high growth regions such as North America, Europe, and  Asia-Pacific has led to an increase in the demand for IMUs.

The aerospace & defense segment is expected to grow at a significant rate during the forecast period owing to rising defense expenditure by emerging economies such as China and India. Moreover,  growing disputes among neighboring countries and the changing nature of warfare is spiking the demand for advanced missiles and unmanned vehicles to enhance surveillance capabilities.

REGIONAL INSIGHTS

The findings based on our research methodology indicate that North America is anticipated to lead the IMU market share during the forecast period. This large share is attributed to the presence of a large number of IMU manufacturers, who are facilitating market growth in the region. Moreover, the U.S. emerged as the highest military spender in the world in 2018.

Europe held the second large market share in IMU market during review time. This share is attributed to the rising technological advancements in the region such as increased adoption of MEMS technology for the development of advanced IMU components. Also, the growing demand for UAVs to strengthen safety and security is driving the market growth in Europe.

As per our market research report, growing disputes among neighboring countries have  led to an increase in defense expenditures in emerging countries such as China and India. Furthermore, the key players involved in market has increased their investment to develop advanced IMUs and achieve applications demand from consumer electronics industry. These factors are expected to drive the market growth in the Asia Pacific during the forecast period.  

South America and Middle East and Africa subregion are expected to witness significant growth during the estimated period owing to increased defense spending.

KEY INDUSTRY PLAYERS

Adoption of New Technologies for Development of Advanced IMUs And High Investment In R&D Activitiesto Sustain Market Growth

The inertial measurement unit market is highly fragmented, with the number of major players present in high-growth regions such as North America, Europe, and Asia-Pacific. Growing investment in R&D and the adoption of new technologies to develop advanced products are prominent strategies that are adopted by the key players to sustain in this market. Also, the key manufacturers are adopting organic and inorganic growth strategies such as mergers and acquisitions,  new component launches, and long-term contracts with their national military and defense departments.

LIST OF KEY PLAYERS PROFILED:

• Analog Devices Inc. (The U.S.)


• General Electric Company (The U.S.)


• Gladiator Technologies (The U.S.)


• Honeywell International Inc. (The U.S.)


• Parker-Hannifin Corporation (The U.S.)


• Northrop Grumman Corporation (The U.S.)


• Robert Bosch GmbH (Germany)


• Safran (France)


• Sensonor AS (Norway)


• STMicroelectronics International N.V. (Switzerland)


• TDK Corporation (Japan)


• Thales Group (France)


• Trimble Navigation (The U.S.)


• VectorNav Technologies. LLC (The U.S.)

KEY INDUSTRY DEVELOPMENTS:

• In November 2020, Advanced Navigation had launched its novel Motus 2, a second generation ultra-high performance MEMS Inertial Measurement Unit. Motus 2 offer high performance than the many FOG systems in a tiny form factor which make it an ideal choice for unmanned systems.


• In October 2020, Analog Devices, Inc. announced that its ADIS16505 MEMS inertial measurement unit (IMU) has received the Electronics Industry Award for Automotive Product of the Year. This new 6DoF IMU capable of precision measurement of all rotational and linear motion of a platform, even under the harshest and most dynamic conditions.


• In July 2020, Honeywell International Inc. launched its novel inertial navigation system (INS), HGuide n380. This new INS consist of company’s HGuide i300 IMU, a global navigation satellite system receiver and proprietary sensor fusion software


• In April 2020, Mouser Electronics, Inc. announced that it has begun to distribute ADIS16507 precision inertial measurement unit (IMU) that produced by Analog Devices, Inc.

REPORT COVERAGE

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The inertial measurement unit market report offers qualitative and quantitative insights on  IMU  systems and detailed analysis of market size & growth rate for the segments in the market.

Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the adoption of advanced technology, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies of leading market players, macro and micro-economic indicators, and key industry trends.

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