Enjoy complimentary customisation on priority with our Enterprise License!
The Inertial Measurement Unit (IMU) Market size is estimated to grow by USD 7,761.28 million between 2022 and 2027 exhibiting a CAGR of 14.59%.
Inertial measurement units (IMUs) are usually fusion sensor units, which contain a minimum of three accelerometers and three gyroscopes. The importance of ASP of MEMS sensors is declining due to the rising demand of the internal measurement unit market which is propelling the market growth. Additionally, customers are investing in wearables such as smartwatches, smart bands, and smart clothing. During the year 2020, the global shipment of wearable devices increased by approximately 30% than 2019. IMUs are integrated into wearable devices to enhance their location, display, and distance-measuring functionalities which are boosting the market growth. Market players are competing on price, quality, technology, brand identity, and distribution to dominate the market.
This report extensively covers market segmentation by Component (gyroscopes, accelerometers, inertial combo, and magnetometers), End-user (consumer electronics, automobiles, industrial, and others), and (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about the report, Request Free Sample
In 2020, the outbreak of COVID-19 severely affected the growth of the IMU market. Various end-user industries, barring the automobile industry, partially shut down their operations due to the pandemic in 2020. This led to the downfall of the economy. However, the lockdown restrictions were lifted in the second half of 2020, with the help of rapid vaccination drives globally. This resumed operations in various end-user industries, including automotive and consumer electronics in the first half of 2021.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Market leaders like STMicroelectronics NV and InvenSense have innovated combo sensors, amalgamating accelerometers and gyroscopes into a compact 10x10 square meter unit. These sensors employ sensor fusion software enabling functions like automatic screen rotation, gesture recognition, step counting, personal navigation, and free-fall detection. The fusion mitigates individual sensor limitations, enhancing accuracy in positioning and orientation data. Furthermore, select combo sensors boast lower production costs compared to discrete sensors. Projecting prevailing adoption trends, IMU sensor shipments are anticipated to surpass discrete sensors. Intensive R&D investment by key IMU vendors anticipates advanced iterations, propelling the global IMU market growth through enhanced manufacturing technologies.
Operators of UAVs receive navigation-related information through sensors and communication links, while onboard IMU and synthetic aperture radars enable precise location and position determination. The use of miniature unmanned systems for communication transfer, destruction of enemy air defense, electronic attack detection and prevention, combat search and rescue operations, and intelligence, surveillance, and reconnaissance operations is on the rise, indicating the potential for growth in the military UAV market.
Thus, the rising adoption of UAVs for military and defense applications is expected to drive the demand for IMUs, which in turn, will boost the growth of the global IMU market during the forecast period.
Safeguarding internal elements of MEMS IMU sensors in rugged mounting environments, involving heat, moisture, and corrosive substances, is intricate. The development, commercialization, and packaging of micromachined gyroscopes are notably demanding due to their susceptibility to fabrication and environmental deviations. Achieving optimal performance at a reasonable cost necessitates a resilient MEMS sensing unit. Packaging these components is complex too, given the heightened robustness of MEMS-packaged modules.
Standardizing MEMS component packaging proves costly, accounting for 30% to 50% of total expenses for a complete MEMS packaged module. Complex packaging with media isolation can escalate expenses to 95% encompassing packaging, testing, and assembly. Notably, packaging, especially for MEMS IMUs, stands as a major expense, and industry players focus on cost-efficiency to bolster profits within narrow margins. Consequently, the substantial packaging costs pose a hurdle to the global IMU market's growth in the foreseeable future.
The gyroscopes segment was valued at USD 1,832.96 million in 2017 and continue to grow by 2021. Gyroscopes are motion sensors that detect and measure the angular motion of objects. The various types of gyroscopes are one axis, two axis, and three axis. Accelerometers measure proper acceleration forces, which could be static or dynamic. The demand for accelerometers is growing from end-user sectors such as automobiles and consumer electronics. Inertial combo sensors consist of both accelerometers and gyroscopes. Such factors will drive the market growth.
Get a glance at the market contribution of various segments Request a PDF Sample
The consumer electronics segment comprises smartphones, tablets, and wearables. The advent of advanced technologies such as gesture control and digital assistants in smartphones, smart wearables, and tablets will increase the number of IMUs used in such devices. The adoption of AR and VR devices is increasing due to the availability of specific applications and content. Investments in AR and VR are also increasing. Major vendors of AR and VR, such as Magic Leap, Oculus VR, Blippar, and MindMaze, are a part of such investments.
IMUs are used extensively in automobiles. The output of IMUs is used to navigate or dead-reckon autonomous cars for short periods of time. The failure of GPS systems when traveling through tunnels also necessitates the deployment of IMUs. Therefore, developments related to autonomous cars and increasing investments will drive the growth of the automobile segment during the forecast period.
North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
North America is an early adopter of AR. Several AR applications are being developed for iOS and Android in the region. Many companies that offer smart glasses, such as VUZIX, Microsoft, and ODG, are also headquartered in the region. Smart glasses are equipped with several wearable sensors. For instance, Vuzix Blade 3000 is equipped with built-in GPS and directional sensors, including a gyroscope, an accelerometer, and hull sensors. Though North America is a mature market, the demand for new types of wearables will originate from the region. Hence, the demand for IMUs will increase steadily during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Asc-Sensors.de - The company offers inertial measurement unit products such as ASC IMU 7-LN, ASC IMU 7-MF, and ASC IMU 8. Also, through this segment, the company develops acceleration sensors, inclination and angular rate sensors, and IMUs.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Inertial Measurement Unit (IMU) Market Scope |
|
Report Coverage |
Details |
Page number |
184 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.59% |
Market growth 2023-2027 |
USD 7,761.28 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
13.08 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACEINNA Inc., Adafruit Industries LLC, Analog Devices Inc., ASC GmbH, Gladiator Technologies Inc., Honeywell International Inc., KVH Industries Inc., L3Harris Technologies Inc., M5Stack Technology Co. Ltd., MEMSIC Semiconductor Co. Ltd., Murata Manufacturing Co. Ltd., Parker Hannifin Corp., Robert Bosch GmbH, Safran SA, STMicroelectronics NV, TDK Corp., Thales Group, Trimble Inc., Northrop Grumman Corp., and Texas Instruments Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.