Market Trends of High-performance IMU Industry
This section covers the major market trends shaping the High-performance IMU Market according to our research experts:
Industrial Sector is Expected to Witness Significant Growth Rate
- In an increasingly competitive industrial market, new features are required to produce more smart machines. With the extensive R&D activities in the fields of sensors, the high-performance IMU market's growth is expected to fuel up over the forecast period.
- Owing to the growing significance of the industrial hubs across the world, there is an increasing need for high-performing operational products. This is increasing the demand for high-performance IMUs, as they are an integral part of defining the product's efficiency.
- The automation of industrial machinery, whether it be in manufacturing, agriculture, logistics, energy, automotive, or unmanned aerial vehicles, promises great gains in resource efficiency, equipment accuracy, and safety. A key enabler of these gains is the identification of the appropriate sensing technologies to enhance the contextual knowledge of the equipment’s condition. To the extent that the location or position of the equipment is also a valuable input to the equation, then precision inertial sensors hold the promise of essentially pinpointing location or maintaining accurate positioning.
- The major players are adopting the technology at a fast pace for example in April 2020, Aceinna announced high volume availability of the new ACEINNA IMU383ZA, which integrates triple-redundant, 3-axis MEMS accelerometer and gyroscope sensors. This miniature module is factory-calibrated over the -40C to +85C industrial temperature range, to provide consistent performance through extreme operating environments for a wide variety of applications including autonomous systems, drones, robotics, agricultural, construction, and other industrial machines.
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North America is Register to have the Largest Market Share
- The primary demand for high-performance inertial systems is primarily obtained from the maritime and the aircraft industry, across both commercial and defence purposes. The increase in the production of helicopters and commercial aircrafts is expected to drive the market during the forecast period.
- Various foreign firms are attracted to the United States marketplace, as it is having diverse offerings and extensive distribution systems thereby employing a skilled and hospitable workforce.
- According to the Federal Aviation Administration, it is estimated that for the next 20 years, the number of US carrier passenger plane will grow at a rate of 1.9% per year, due to which the application of IMU is expected to grow at a steady rate, thereby fueling the growth of the high-performance IMU market.
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