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2021
Inertial Sensing Systems Market

Inertial Sensing Systems Market by Component (Accelerometers, Gyroscopes, IMUs, Magnetometer, Attitude Heading and Reference Systems), Industry Vertical (Aerospace and Defense, Consumer Electronics, Industrial, Automotive, Energy and Infrastructure, Healthcare): Global Opportunity Analysis and Industry Forecast, 2020–2030

A12975
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Oct 2021 | 137 Views
   
Author(s) : Vineet Kumar
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COVID-19

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Inertial Sensing Systems Market Outlook - 2030

A device that employs inertia to perform a measurement is known as an inertial sensor. When people talk about "inertial sensors," they're usually referring to an accelerometer or a gyroscope. Accelerometers are inertial sensors that detect linear acceleration in one or several directions. Inertial sensors, such as gyroscopes, measure angular motion along one or more axes. This measurement can indicate both the intensity and frequency of human movement because acceleration is related to external force. Inertial sensing systems are measurement devices that measure a moving object's velocity, gravitational force, and orientation. Drones, planes, ships, and other vehicles are among them. These systems are employed in Artificial Intelligence to ensure that the target is reached without the usage of any digital technology.

The global inertial sensing systems market is segmented on the basis of component, industry vertical, and region, industry vertical and region. Based on component, the market is divided into accelerometers, gyroscopes, imus, magnetometer, attitude heading and reference systems. In terms of industry vertical, the market is categorized into aerospace and defense, consumer electronics, industrial, automotive, energy and infrastructure, healthcare. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global inertial sensing systems industry include Major players analyzed include Analog Devices Inc., Bosch Sensortec GmbH, Safran Group, Honeywell International Inc., TDK Corporation, IXBLUE, Kearfott Corporation, KVH Industries, Inc., Meggitt Plc, and Northrop Grumman Corporation. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global inertial sensing systems market.

Market Scope and Structure Analysis:

Report Metric

Details

 Market size available for years

 2020–2030

 Base year considered

 2020

 Forecast period

 2021–2030

 Forecast units

 Value (USD)

 Segments covered

 Component, Industry Vertical, and Region

 Geographies covered

North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and the Rest of Asia Pacific), LAMEA (Latin America, Middle East and Africa)

 Companies covered

Major players analyzed include Analog Devices Inc., Bosch Sensortec GmbH, Safran Group, Honeywell International Inc., TDK Corporation, IXBLUE, Kearfott Corporation, KVH Industries, Inc., Meggitt Plc, and Northrop Grumman Corporation.

 

COVID-19 Scenario Analysis:

The COVID-19 pandemic is impacting the society and overall economy across the global. The impact of this outbreak is growing day-by-day as well as affecting the supply chain. It is creating uncertainty in the stock market, falling business confidence, massive slowing of supply chain, and increasing panic among customers. European countries under lockdowns have suffered a major loss of business and revenue due to shutdown of manufacturing units in the region.

 In response of COVID-19's long-term implications, governments are attempting to address the problem by enacting beneficial initiatives and policies such as financial packages, lower interest rates, and tax exemptions. Despite the world's efforts to find a COVID-19 breakthrough, the inertial sensing system market is expected to rebound to a great level during the forecast period.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Increase in usage of micro electromechanical systems (MEMS), surge in demand for navigation precision, and rise in growth from emerging nations' aerospace, commercial, and military sectors are some of the important drivers affecting market expansion. Furthermore, the increased adoption of internal sensing systems in the world is due to the surge in number of unmanned aerial aircraft and rise in defense budget. The high-performance inertial sensing market is expected to grow exponentially as a result of factors such as the large-scale production of smartphones, the on-going demand for aircraft, the growing need for efficiency in navigation systems, and the availability of miniaturized parts at low prices amidst the flowing drivers. The rapid improvement of global lifestyle has necessitated the development of equipment that is more user-friendly. Motion-sensing technology, which heavily relies on inertial sensors, can aid with this. Inertial sensor technology has emerged as a major market driver.

Some considerations, such as the fall in advanced nations' security budgets and the time gap required to start the system, may function as a limitation during the period of market growth. Flicker noise calibration errors and temperature changes, on the other hand, are limiting market expansion.

The global inertial sensing system market trends are as follows:

Increase in the Demand of Inertial Sensing Systems by Defense Industry

In terms of applications like Missile Guidance, Control and Targeting, Precision Guided Munitions, Tank Turret Stabilization, and Torpedo Guidance, the military industry has the largest market share. Small-diameter missiles, underwater navigators, and autonomous underwater vehicles are among the military and defense applications that are increasing the demand for high-end MEMS sensors. A key driver for the market is the rising modernization of weaponry with the introduction of smart weapons and sophisticated tanks. Because the amount of money spent on defense R&D is substantially higher than that spent on civilian applications, this market is seeing tremendous expansion. Furthermore, rise in defense spending in various countries, as well as government initiatives to develop a cutting-edge defense weapon platform by acquiring cutting-edge technologies such as precision striking, defense electronics, and critical infrastructure protection, are expected to significantly drive the market growth.

Increase in Demand of Gyroscopes

Gyroscope demand is expected to rise as more efficient, cost-effective, and compact gyroscopes become available. Gyroscopes have grown in popularity due to their ability to provide high-level motion sensing and navigational help. Gyroscopes can also calculate angular velocity in three dimensions. Oil rig exploration requires high-performance gyroscopes and IMUs to provide a self-contained sensor system and extremely accurate platform stabilization solutions. This is going to help the growth of the inertial sensing systems market size during the forecast period.

Key segments covered:

Segments

Sub-segments

 Component

  • Accelerometers
  • Gyroscopes
  • IMUs
  • Magnetometer
  • Attitude Heading and Reference Systems

 Industry Vertical

  • Aerospace and Defense
  • Consumer Electronics
  • Industrial
  • Automotive
  • Energy and Infrastructure
  • Healthcare


Key Benefits of the Report:

  • This study presents the analytical depiction of the global inertial sensing systems industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the inertial sensing systems market share.
  • The current market is quantitatively analyzed from 2021 to 2030 to highlight the inertial sensing systems market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed inertial sensing systems market trends analysis based on competitive intensity and how the competition will take shape in coming years.
  • The report contains inertial sensing systems market forecast from 2021 to 2030, considering 2020 as a base year.
  • The report presents information on the inertial sensing systems market opportunities to track potential regions and country.
  • The inertial sensing systems market outlooks the future scope and estimates the percentage growth.

Questions Answered in the Inertial Sensing Systems Market Research Report:

  • What are the leading market players active in the inertial sensing systems market analysis?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the inertial sensing systems market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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