Market Size of Inertial Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Inertial Systems Market Analysis
The inertial systems market is expected to register a CAGR of 9% over the forecast period (2021 - 2026). The rapid advancement of global lifestyle has resulted in the need for equipment that can be used with greater ease of use. Use of motion-sensing technology can help achieve this, which extensively uses inertial sensors. Inertial sensor technology has become a key driving factor in this market. There has been a paradigm shift in the inertial systems manufacturing techniques after the turn of the century.
- The emergence of Micro Electro Mechanical Systems (MEMS) technology resulted in miniaturization of mechanical and electro-mechanical elements in the field of sensors and semiconductors through the use of micro-fabrication and micro-machining techniques. Hence, MEMS have now become an indisputable part of the future navigation systems and thus increasing the inertial systems market growth.
- Additionally, high-end inertial systems are comprised of IMU's with high-performance sensors (gyroscopes, magnetometers, accelerometers), which provide high accuracy information about the surrounding environment through relative movement. Hence, the need for higher accuracy in the navigation systems is increasing, thus increasing the demand for advanced inertial systems.
- However, the large scale adoption of inertial systems was significantly constrained by large size and exorbitant costs. Also, the integration drift error in the navigation system is expected to pose challenges in the growth of inertial systems market.
