Global Automotive Inertial Measurement Unit Sensors Market 2020-2024 | Strong Demand for IMU Sensors from Automotive Applications to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--Mar 3, 2020--
The automotive inertial measurement unit (IMU) sensors market is expected to grow by USD 6.77 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Automotive Inertial Measurement Unit Sensors Market 2020-2024 (Graphic: Business Wire)
The demand for systems, such as ADAS and airbags, is an important driver for the growth in the global automotive IMU sensors market. ADAS systems are installed in cars to reduce human errors while driving, which can lead to accidents. ADAS is especially beneficial in long rides, where the major cause of accidents is fatigue. The developed regions such as North America and Europe are anticipated to be the major markets for ADAS. In addition, airbags are used in vehicles to ensure the safety of the occupants in the case of an accident. These airbags are operated through an airbag control unit, which uses the input provided by various sensors such as automotive IMU sensors.
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As per Technavio, the development of smaller IMU sensors will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Automotive Inertial Measurement Unit Sensors Market: Development of Smaller IMU Sensors
The adoption of IMU sensors in the automotive industry was restricted to the navigation system earlier. However, the recent use of automotive IMU sensors in various other automotive applications is necessitating the demand for more robust sensors that are high in performance and small in size. Hence, suppliers are working toward meeting the ever-changing demands of the industry. The MEMS-based technology in IMU sensors was introduced by vendors like STMicroelectronics. In July 2018, STMicroelectronics introduced the ASM330LHH six-axis, inertial automotive-grade sensor, for super-high-resolution motion tracking in advanced vehicle navigation and telematics applications. This IMU is offered in an ultra-compact size and is ideal for autonomous vehicle applications.
“Factors such as the growing popularity of camera-based systems in automotive applications, and the development of autonomous vehicles are expected to increase the adoption of IMUs. This will have a positive impact on the growth of the automotive inertial measurement unit sensors market value during the forecast period,” says a senior analyst at Technavio.
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Automotive Inertial Measurement Unit Sensors Market: Segmentation Analysis
This market research report segments the automotive inertial measurement unit sensors market by product (FOG-based IMUs and MEMS gyroscope-based IMUs), application (passenger cars and commercial vehicles), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the automotive inertial measurement unit sensors market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, APAC is expected to register the highest incremental growth due to several factors such as the high adoption of vehicles, growth in the passenger cars and commercial vehicles segments and rapid advances in technology and mass production of systems by vendors in the region.
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Some of the key topics covered in the report include:
- FOG-based IMUs
- MEMS gyroscope-based IMUs
- Passenger cars
- Commercial vehicles
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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PUB: 03/03/2020 07:30 AM/DISC: 03/03/2020 07:30 AM