Market Size – USD 20.38 Billion in 2020, Market Growth - CAGR of 5.50%, Market Trends – Rising smartphone market, a major consumer of Inertial Measurement Unit

NEW YORK CITY, NEW YORK, USA, September 2, 2021 /EINPresswire.com/ -- According to the current analysis by Reports and Data, the global Inertial Measurement Unit Market size was valued at USD 20.38 Billion in 2020 and is projected to grow at a CAGR of 5.50% during the forecast period. Factors affecting the increasing demand for the Inertial Measurement Unit market is the growing rate of applications in the Micro-Electromechanical Systems (MEMs). The rising demand from the consumers for equipment with better ergonomics will also be a significant factor for the growth of the market.

This report on the Inertial Measurement Unit market delivers a cumulative synopsis of the speculations of this business, overall, along with an evaluation of its segmentations. It predicts the Inertial Measurement Unit market to advance as one of the most profitable verticals, generating massive revenue by the end of the forecast years, exhibiting a sizable growth rate over the calculated period. The opportunities for growth and expansion that are prominent in the sector as well as the geographical coverage of the industry have also been investigated by the report.

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Key players included in report:

Key participants include Honeywell International (U.S.), Thales Group (France), Bosch (Germany), Northrop Grumman Corporation (U.S.), Kvh Industries (U.S.), Moog, Inc.(U.S.), Rockwell Collins (U.S.), Fairchild Semiconductors (U.S.), Analog Devices (U.S.), Xsens (Netherlands), Sensonor AS (Norway), and VectorNav Technologies (U.S.).

Further key findings from the report suggest:

• The valuation for the Global Inertial Measurement Unit market was USD 20.38 Billion in 2020 and is forecasted to reach USD 31.49 Billion by 2028
• Increasing advancements in the MEMs is the primary reason for the growth of the Inertial Measurement Unit industry.
• The accumulated error of IMU equipment is the main factor that can restrain the growth of the market.
• Gyroscope, Magnetometer, and Accelerometer segments are projected to grow with similar rates over the forecasted period due to the three being an integral part of the IMU device.
• The equipment is increasingly being used in the land, defense, industrial, and aerospace applications in a bid to obtain a precise measurement of vector-based variables.
• High growth of applications in the Micro-Electromechanical Systems (MEMS) will be the major factor for the increase in demand of IMU market over the forecasted period.

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Market Segmentation:

Gyro Techniques (Revenue, USD Million; 2018–2028)
• Ring Laser Gyro
• Fiber Optic Gyro
• Hemispherical Resonator Gyro
• Micro-electrochemical systems
• Vibrating gyro
• Others

Components (Revenue, USD Million; 2018–2028)
• Gyroscope
• Magnetometer
• Accelerometer

Platform (Revenue, USD Million; 2018–2028)
• Aerial
• Land
• Naval

Applications (Revenue, USD Million; 2018–2028)
• Aerospace
o Civil Aviation
 General Aircraft
 Commercial Aircraft
 Helicopters
o Military Aircraft
 Fighter
 Military Helicopters
 Transport Carriers
o Space launch vehicles
o UAVs
• Marine
o Merchant Ships
o Naval Ships
o Unmanned Marine Vehicles
• Consumer Electronics
• Automotive
• Survey Equipment
• Others

Regional Outlook (Revenue in USD Million; 2016–2026)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o U.K.
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Rest of the World
• Middle East & Africa
• Latin America

Browse full report here @ https://www.reportsanddata.com/report-detail/inertial-measurement-unit-market

The research provides answers to the following key questions:

• What will be the market size and growth rate of the Inertial Measurement Unit market for the forecast period 2016 -2026 across different regions?
• What are the key driving forces expected to shape the future of the industry worldwide?
• What strategies are the prominent vendors adapting to stay ahead of their competitors?
• Which major trends are impacting the development of the Inertial Measurement Unit Market Worldwide?
• Which factors can hinder, challenge or even restrict the expansion of the Inertial Measurement Unit market worldwide?
• What are the opportunities or future prospect for the business owners operating in the market for the forecast period, 2016 - 2026?

Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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