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Global MEMS-Based Inertial Measurement Unit (IMU) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

ReportLinker
·5 min de lecture

The Global MEMS - Based Inertial Measurement Unit (IMU) Market is expected to CAGR of 6. 5% over the forecast period 2021 - 2026. The growth of the MEMS - based 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.

New York, March 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global MEMS-Based Inertial Measurement Unit (IMU) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06036765/?utm_source=GNW


- 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 and thereby driving the growth of the market.
- The MEMS - based inertial measurement unit market is growing as MEMS inertial sensors used in the unit offer extremely robust, reliable, fast, and temperature-stable characteristics and can detect even the smallest changes in position and acceleration. Furthermore, the growing development of IoT devices are driving the growth of the market.
- The internal components of MEMS IMU needs to be protected from harsh environments such as heat, moisture, and corrosive chemicals. However, the high sensitivity to fabrication and environmental variations makes the packaging of IMU sensors such as micromachined gyroscopes a challenging task and increases the packaging cost and thereby hampers the growth of the market.
- The MEMS-based inertial measurement unit market is facing heavy headwind due to outbreak of COVID-19 across the globe.Lockdowns enforced by the spread of covid-19 worldwide has not only affected manufacturing of device, but also dragged consumer demand across end user industries and influenced the prices as well. However, with the resurgence the demand of the market is likely to rise back to the trend line.

Key Market Trends
Automotive Sector to Account for a Major Share

- The latest generation of Advanced Driver Assistance Systems (ADAS) and autonomous vehicles require a very precise inertial measurement unit to accurately predict the motion of a vehicle to determine its exact position in real-time, thereby driving the growth for MEMS-based inertial measurement unit market.
- The demand for the MEMS based inertial measurement unit in automotive is increasing as they provide accuracy and reliability which is needed for advanced automotive applications up to and including totally automated L5 level driving applications that are expected to become a significant factor in the emerging future applications.
- With the increase in the number of production plants for passenger and commercial vehicles due to high demand for these vehicles and presence of rapidly expanding economies are likely to boost the growth of the market.Furthermore, several companies are investing heavily in autonomous cars which is fuelling the growth of the market.
- The growing demand for safety of passengers and the drivers in automobiles is boosting the market’s growth positively as MEMS based IMU help in improving the safety features of vehicles. For instance, according to the World Health Organization, globally, approximately 1.35 million people are killed in road accidents every year. Moreover, between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as the result of their injury.
- MEMs based inertial measurement units offer the promise of size and process suitable for the automotive market.With the evolution towards autonomous driving the demand for the market is expected to increase multiple-fold for safety-based applications and create opportunities in the market.

North America to Hold the Largest Market Share

- North America is expected to hold the largest market share, mainly attributed to the high defense budgets. The United States allocates the maximum budget for defense spending. With the country accounting for more than 38% of the overall defense expenditure, the market is expected to remain a dominant sector in the industry.
- The US military uses a navigation-grade inertial measurement unit developed by Northrop Grumman. This miniaturized unit is based on MEMS technology, to enable navigation by sensing acceleration and angular motion, providing data outputs used by vehicle control systems for guidance.
- The increase in the production of helicopters and commercial aircraft creates huge potential market opportunities for MEMS-based IMUs. The US aerospace industry exports more than 60% of the total aerospace production. As a result various foreign firms are attracted to the US aerospace market, as it is the largest market in the world, employing a skilled and hospitable workforce, with diverse offerings and extensive distribution systems.
- 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 MEMS- based IMU is expected to grow at a steady rate, thereby fueling the growth of the MEMS-Based IMU market.

Competitive Landscape
The MEMS - based inertial measurement unit market is moderately fragmented.Overall, the competitive rivalry among existing competitors is high. Moving forward, acquisitions and partnership of large companies are focused toward innovation. Some of the key players in the market are Honeywell International Inc.?, Analog Devices Inc., Bosch Sensortec GmbH and STMicroelectronics International N.V?. Some of the key developments in the area are:
- In August 2019, STMicroelectronics released its latest 3-axial ultra-low power accelerator for non-safety automotive applications.
- In June 2019 - Bosch Sensortec announced the BMI270, an ultra-low power smart Inertial Measurement Unit (IMU) specifically targeted for wearable applications. It offers the strongly improved accelerometer offset and sensitivity performance, by the help of latest Bosch MEMS process technology.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
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Read the full report: https://www.reportlinker.com/p06036765/?utm_source=GNW

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