Inertial Measurement Units (IMUS) Market Size, Share, Growth Analysis, By Component(Accelerometer, Gyroscope, Magnetometer), By Platform(Airborne, Ground, Maritime, Space), By Region - Industry Forecast 2024-2031

Global Inertial Measurement Units (IMUS) Market size was valued at USD 24.02 billion in 2022 and is poised to grow from USD 27.19 billion in 2023 to USD 73.31 billion by 2031, growing at a CAGR of 13.20% in the forecast period (2024-2031).

The market is expected to increase due to the many kinds of inertial measurement units (IMU) components and their advantages for numerous industries. A gyroscope can gauge the rate and speed of rotation of an object, a magnetometer can gauge the signal's magnetic field intensity, and an accelerometer may gauge motion and direction. They are utilised by consumer electronics, drones, missiles, robotics, armoured vehicles, military and civilian aircraft, and helicopters. Global sales and shipment of new smartphones are rising. According to International Data Corporation (IDC), the number of smartphones shipped worldwide in 2020 was 1,292.2 million. The market is growing as a result of the rapid modernisation of military equipment and defence systems. In order to function under adverse weather conditions, unmanned aerial vehicles (UAVs) with autonomous navigation systems commonly use fibre optic Inertial measurement units. They are employed in battling fires, finding bombs, and conducting ISR (intelligence, surveillance, and reconnaissance). Aside from that, the sector is expanding due to the extensive use of products for virtual and augmented reality (V/AR) systems, the creation of artificial environments, and the measurement of changes in acceleration, speed, and orientation. Inertial measurement units for stable platforms operate by utilising a variety of mechanical components coupled by several joints. These joints should have no friction in order to prevent measuring mistakes. The performance of these devices is hampered by the friction faults that develop with repeated usage and wear and tear.

US Inertial Measurement Units (IMUS) Market is poised to grow at a sustainable CAGR for the next forecast year.