The global demand for Inertial Sensors Market is presumed to reach the market size of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period 2021 - 2027.
Inertial sensors are also known as inertial measurement units (IMU) or inertial navigation systems (INS). It is a device that tracks the geographical position and orientation and measures the velocity of an object in motion without requiring any external references. The components of an inertial sensor include gyroscopes, magnetometers, accelerometers, encoders, and GPS. Inertial sensors are used in many applications such as spacecraft, aircraft, submarines, ships, and guided missiles and are embedded in mobile phones for device location and tracking. It finds usage in numerous end-use industries such as automobiles, aviation, defense, consumer electronics, and transportation, among others. At present, small and lightweight inertial sensors are manufactured using recent advancements made in Micro Electro Mechanical Systems (MEMS), which has widened the range of applications, such as capturing human and animal motion.
The inertial sensor market is growing at a substantial pace during the forecast period. The key factor driving its market is the increasing penetration of consumer electronic devices such as mobile phones, tablets, laptops, and gaming stations where accelerometers, gyroscopes, and magnetometers are used. Increasing adoption of commercial autonomous vehicles, increasing need for navigation accuracy, and technological innovations made in MEMS-based IMP are significant factors anticipated to boost the demand for inertial sensors. Another factor that will positively impact the inertial sensor market is the rapidly growing automobile industry, where these sensors find a place in the vehicle safety system. In addition, the growing adoption of healthcare devices like patient monitoring systems and increasing awareness about personal health will further accelerate market growth. On the other hand, factors such as exorbitant price, large size, and accuracy limitations pose challenges and act as restraints.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of inertial sensors. The growth and trends of inertial sensors industry provide a holistic approach to this study.
This section of the inertial sensors market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
- High-Performance Gyroscopes
- High-Performance Accelerometers
This section covers the regional outlook, which accentuates current and future demand for the Inertial Sensors market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Inertial Sensors Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the inertial sensors market include Atlantic Inertial Systems INC., Advanced Navigation, Epson Electronics America, Inc., Bosch Group GmbH, IXBLUE, Heidenhain Corporation, VectorNav Technologies, Freescale Semiconductors, Shanghai Maixun Hangyi Inertia Technology Co., Ltd., ST Microelectronics, and Systron Donner Inertial. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information based on primary and secondary research. Secondary research has been done using various sources, including (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. Additionally, our team conducts extensive primary research with key industry participants to gather first-hand data. The data is then analyzed and validated by industry experts.
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