The global inertial measurement unit (IMU) market size was valued at USD 15.71 billion in 2021. The market is expected to grow from USD 16.41 billion in 2022 to USD 28.37 billion by 2029, exhibiting a CAGR of 8.13% during the forecast period. Information Source: https://www.fortunebusinessinsights.com/industry-reports/inertial-measurement-unit-market-101827

The global Inertial Measurement Unit (IMU) Market size is projected to reach USD 24.91 billion by 2027, exhibiting a CAGR of 9.22% during the forecast period. Wide applicability of IMU sensors will be the key growth-driving factor for this market, according to the new Fortune Business Insights™ report, titled “Inertial Measurement Unit (IMU) Market and Regional Forecast, 2020 – 2027”. Information Source: https://www.fortunebusinessinsights.com/industry-reports/inertial-measurement-unit-market-101827

According to a report by Fortune Business Insights™ titled "Inertial Measurement Unit (IMU) Market, 2022-2029," the global IMU market was valued at USD 15.71 billion in 2021. It is projected to experience significant growth, reaching USD 28.37 billion by 2029 with a compound annual growth rate (CAGR) of 8.13% during the forecast period. The market's expansion can be attributed to the increasing demand for unmanned UAVs and Micro-Electro-Mechanical Systems (MEMS). List of Key Players Profiled in the Report Analog Devices Inc. (U.S.) Gladiator Technologies (U.S.) Honeywell International Inc.(U.S.) Parker Hannifin Corp (U.S.) General Electric Company (U.S.) Israel Aerospace Industries Ltd. (IAI) (Israel) Thales Group (France) Northrop Grumman Corporation (U.S.) Trimble Inc. (U.S.) Safran S.A(France) TDK Corporation(Japan) Information Source: https://www.fortunebusinessinsights.com/industry-reports/inertial-measurement-unit-market-101827 Segments Accelerometer Segment Dominated Market Share Owing to Increasing IMU Applications By component, the market is segmented into accelerometer, gyroscope, and magnetometer. The accelerometer segment is expected to dominate due to rising IMU applications. Ring Laser Gyro Segment to Dominate Owing to Strong Demand for Space-based Navigation Devices Based on technology, the market is classified into mechanical gyro, ring laser gyro, fiber optics gyro, MEMS, and others. The ring laser gyro segment is expected to grow due to the strong demand for space-based navigation devices. Space Segment to Lead Owing to Increasing Defense Budgets and Military Modernization As per platform, the market is categorized into airborne, ground, maritime, and space. The space segment is expected to lead due to rising defense budgets and military modernization. Aerospace and Defense Segment Accounted for the Largest Share due to High Demand for UAV and Aircraft Fleets By end-user, the aerospace and defense segment accounted for the largest share in the market in 2021. The increase in demand for UAV and rising aircraft fleets have led to the increasing demand for the product in the aerospace sector. Regionally, the market is clubbed into North America, Europe, Asia Pacific, and the rest of the world. Report Coverage The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players. Drivers and Restraints Robust Demand for Micro Electro Mechanical Systems (MEMS) to Foster Industry Growth The inertial measurement unit (IMU) is an electronic device that utilizes magnetometers, gyroscopes, and accelerometers to measure the orientation and movement of objects. The market for IMUs is anticipated to witness significant growth due to the strong demand for Micro-Electro-Mechanical Systems (MEMS). Additionally, the increasing adoption of IMUs in various sectors such as medical, defense, communication, electronics, and automotive applications is expected to drive industry progress. The growing demand for robotic systems is also likely to contribute to the adoption of IMUs. These factors are expected to fuel the growth of the Inertial Measurement Unit (IMU) market. However, there are certain challenges that may hinder the industry's growth, including concerns related to heat dissipation and navigation issues.