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Inertial Measurement Unit (IMU) - Global Market Trajectory & Analytics

  • ID: 4805796
  • Report
  • March 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Analog Devices Inc.
  • Bosch Sensortec GmbH
  • Gladiator Technologies
  • Parker Hannifin Corp.
  • STMicroelectronics
  • TDK Corporation

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.

Amid the COVID-19 crisis, the global market for Inertial Measurement Unit (IMU) estimated at US$16.4 Billion in the year 2020, 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 $3.9 Billion in 2021, 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$3.9 Billion in the year 2021. 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 in the year 2020 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.

Select Competitors (Total 71 Featured) -

  • 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

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Analog Devices Inc.
  • Bosch Sensortec GmbH
  • Gladiator Technologies
  • Parker Hannifin Corp.
  • STMicroelectronics
  • TDK Corporation
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of COVID-19 and a Looming Global Recession
  • EXHIBIT 1: COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019E to 2022F
  • Industrial Activity Remains Subdued, Inducing Weakness into Inertial Measurement Unit Market
  • EXHIBIT 2: Global PMI Index Points for the Years 2018, 2019 & 2020
  • Inertial Measurement Units (IMU): Power-Packed Technology to Measure Acceleration, Velocity & Magnetic Strength of Objects
  • Key Components & Working of IMUs
  • Major Applications of IMUs
  • Limitations of IMUs
  • IMU Market to Bustle with Incredible Acceleration & Display High-Velocity Trajectory in Long Term: Prospects & Outlook
  • Prominent Drivers Aiding Growth of IMU Market
  • Accumulated Error Linked with IMU-based Navigation: A Growth Inhibitor
  • Space Launch & Commercial Electronics: Leading Segments of Inertial Measurement Unit Market
  • EXHIBIT 3: World Inertial Measurement Unit (IMU) Market by Grade (2020 & 2027): Percentage Breakdown of Revenues for Commercial, Navigation, Space, Tactical, and Marine
  • Segmental Insights by Component
  • EXHIBIT 4: World Inertial Measurement Unit (IMU) Market by Component (2012, 2020 & 2027): Percentage Breakdown of Revenues for Gyroscopes, Magnetometers, and Other Components
  • Regional Analysis: While Developing Regions Intensify Demand, North America Claims Big Slice of Global IMU Market
  • EXHIBIT 5: World Inertial Measurement Unit (IMU) Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • EXHIBIT 6: Global Inertial Measurement Unit (IMU) Market: Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Latin America, Rest of World, USA, Canada, Europe, and Japan
  • Competitive Scenario: IMU Providers Mow Down Competition with R&D and Product Innovations
  • Recent Market Activity
  • Select Global Brands
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Established Use Case in Consumer Electronics Sector Augurs Well
  • EXHIBIT 7: Global Smart Homes Market by Category in US$ Billion for the Years 2020 and 2022
  • Smartphone Usage Trends Favor Growth
  • EXHIBIT 8: Global Market for Smartphones in Billions: 2016-2021
  • EXHIBIT 9: Smartphone Penetration Rate as Share of Total Population: 2016-2021
  • EXHIBIT 10: World Tablet PCs Market: Breakdown of Annual Volume Sales (in Million Units) for the Years 2013, 2018 & 2019
  • Expanding Role of Electronics in Automotive Vehicles Accelerate Growth Momentum
  • EXHIBIT 11: Automotive Electronics as a Percentage (%) of Vehicle Production Cost for the Years 2010, 2020 & 2030
  • EXHIBIT 12: Average Value of In-Vehicle Electronics Per Vehicle (In US$) for the Years 2018, 2025 & 2030
  • EXHIBIT 13: World Automobile Production in Million Units: 2008-2022
  • IMU Set to Make Big Gains in AV Vertical
  • EXHIBIT 14: Global Autonomous Vehicle Sales (In Million)
  • Rising Spending on Industrial Automation Projects to Boost Market Prospects
  • EXHIBIT 15: Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
  • IMUs Induce Sophisticated Navigation & Tactical Functionalities in Aerospace & Defense Systems
  • EXHIBIT 16: Commercial Airline Revenue Growth (in %) for 2010-2020
  • EXHIBIT 17: Global Airlines Performance by Region: 2020 Vs 2019
  • EXHIBIT 18: Defense Expenditure Worldwide in US$ Billion for the Years 2002 through 2019
  • EXHIBIT 19: Leading Countries Ranked by Defense Budgets (in US$ Billion): 2019
  • Rise in UAV Deployments Favors Growth
  • Surveying Made Easier with IMU
  • IMU Sensors Streamline Functioning of Mobile Robots
  • Rising Emphasis on Precision Agriculture Widens Addressable Market
  • Wearables Emerge as Lucrative Vertical
  • EXHIBIT 20: World Wearable Electronics Market by Geographic Region (2018 & 2022): Percentage Breakdown of Unit Sales for North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. and Rest of World
  • Uptrend in MEMS Domain Favors Growth
  • Technology Innovations & Advancements Favor Growth
  • Global Sensor Industry: A Complementary Overview
  • EXHIBIT 21: World Sensors Market by End-Use Segment (2020): Percentage Breakdown of Dollar Sales for Automobile Applications, Process & Manufacturing Industries, Machine Tools & General Machinery, HVAC & Building Control, Office Automation & Communication, and Other Markets
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

INDIA

SOUTH KOREA

TAIWAN

REST OF ASIA-PACIFIC

LATIN AMERICA

REST OF WORLD

IV. COMPETITION
  • Total Companies Profiled: 71

Note: Product cover images may vary from those shown
  • 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
Note: Product cover images may vary from those shown
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