Market Size of Inertial Measurement Unit Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.49 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Inertial Measurement Unit (IMU) Market Analysis
The inertial measurement unit market was valued at USD 18.97 billion in 2020 and is expected to reach USD 27.23 billion by 2026, at a CAGR of 6.49% over the forecast period 2021 - 2026.
- The growth of the inertial measurement unit (IMU) market is largely fueled by the increase in the number of applications, technological advancements, and the increasing demand in emerging countries of Asia-Pacific. Furthermore, the growth can be attributed to the increasing demand for accuracy in navigation aids and emergence of MEMS systems.
- The MEMS technology played a major role in expanding the application base for inertial measurement systems, by scaling down the size and power consumption of these devices, without compromising on their performance metrics.
- However, as IMU is mostly being dependent on MEMS, the improvement in the accuracy of an IMU with inertial sensors is being limited, such as putting the whole shebang in a constant temperature oven or adding data from other non-inertial sensors, such as a magnetometer or a motion capture system.
