Inertial Sensor Market

Inertial Sensor Market Outlook (2024 to 2034)

The global inertial sensors market is estimated to be around US$ 7,256.2 million in 2024. Inertial Sensor sales are projected to increase at a CAGR of 9.4%, reaching over US$ 17,819.0 million by 2034.

The inertial sensor has witnessed steady growth due to rising demands in industries such as automotive, aerospace, defense, and consumer electronics. Along with several technological improvements, increased automation and exploding numbers of smart devices remain the forces of market growth

The inertial sensors have high precision, a small volume, low power, and operability under various environments. Their increased capabilities, such as dynamic processing of information, higher sensitivity, and integration with other sensor technologies, enhance overall navigation and motion-tracking systems.

• Preliminary studies conducted at Sandia National Labs indicate that established rotational methods, such as indexing and carousel-ing, should particularly boost the performance of MEMS (Micro-Electro-Mechanical Systems) IMUs with great consequence. Adopting these met-ods significantly improves the bias performance when complete sensor sizes are kept minimized through advanced MEMS fabrication engineering designs.

They have prominent applications in navigation systems, motion tracking, and stabilization for vehicles and aircraft. Their roles in wearable technology and industrial automation serve further to optimize precision and control, making them essential in numerous modern applications.

The future of this market remains promising, boosted by continuing innovations and anticipated further investments that may boost further growth. The continuing increasing demands for autonomous vehicles, as well as smart devices, would open ample market opportunities.

Report Attributes	Details
Inertial Sensor Market Size (2023A)	US$ 6,726.5 Million
Estimated Market Value (2024E)	US$ 7,256.2 Million
Forecasted Market Value (2034F)	US$ 17,819.0 Million
Global Market Growth Rate (2024-2034)	9.4% CAGR
East Asia Market Share (2024)	31.7%
China Market Growth Rate (2024-2034)	10.7% CAGR
Key Companies Profiled	Bosch Sensortec GmbH; STMicroelectronics N.V.; Analog Devices, Inc.; TDK Corporation; Honeywell International Inc.; InvenSense, Inc. (TDK Subsidiary); Northrop Grumman Corporation; Murata Manufacturing Co., Ltd.; Safran Electronics & Defense; Thales Group.

Historic Analysis (2019 to 2023) and Future (2024 to 2034) Pathway Analysis for the Inertial Sensor Market

The Inertial Sensor Market was valued at US$6,726.5 million in 2023, growing at a CAGR of 7.3% from 2019 to 2023.

• Short Term (2024 to 2027): The inertial sensor is likely to witness strong growth in industry sectors like automotive and aerospace towards automation. The spread of intelligent devices together with the development of MEMS technology would augment sensor function. Also, during this period, other applications in navigation systems, augmented reality, and IoT will add a substantial pull to the market.
• Medium Term (2027 to 2030): The market will gradually evolve by focusing on improving inertial sensor accuracy and miniaturization. Further, the integration of AI as well as machine-learning capabilities with processing will lead to an improvement in performance. Healthcare wearables and applications in robotics will come to the forefront for their unique applications in motion tracking and positioning, thus creating new markets.
• Long Term (2030 to 2034): The inertial sensor market would be dominated by advanced technologies centered around super-accurate sensors and improved fusion algorithms. The rise of autonomous vehicles and smart city initiatives would create substantial demand. Automation of industry is furthering the rise of demand for technology advances and means of deepening applications, which would provide expansive growth to the market.

Based on these facts, the Inertial Sensor is projected to grow at a CAGR of 9.4% from 2024 to 2034, according to Fact.MR, a market research and competitive intelligence provider.

Market Dynamics

What are the driving forces behind Inertial Sensor Market sales worldwide?

“Increasing Demand for Automation In Various Industries”

Automation across industries continues to flourish and remains one of the major drivers for sales in the inertial sensor. As companies become more efficient and reduce operation costs while enhancing safety, automation technologies are in great demand. As suggested by the U.S. Bureau of Labor Statistics, automation industries will witness productivity growing annually from 1.5% to 2.5% in the next 10 years. The major shift in these sectors-automotive, aerospace, and manufacturing proper embedding of inertial sensors, which facilitates various high-end systems in autonomous vehicles and robotics.

Moreover, the New World Robotics Report recorded 4,281,585 units operating in factories worldwide - an increase of 11% as compared to 2015 to 2021. Inertial sensors are necessary and especially influential components of allocated automated systems where they act as an essential input on navigation, motion tracking, and stability of the system. Continuous investments in smart factories, creating a growing market demand for highly reliable inertial sensors, will drive growth over the next few years in the market.

“Growing Demand For Precise Navigation And Positioning Solutions.”

Rising demand for accurate navigational and positioning solutions considerably drives the inertial sensors market. Various fields including automotive, aerospace, and consumer electronics are increasingly adopting advanced inertial sensors to enhance the robustness and performance of navigational systems. These sensors are important in applications such as autonomous vehicles, drones, and advanced mobile devices-completeness in positioning is of utmost importance for safety and performance optimization purposes.

Additionally, the International Federation of Robotics states that a total of 517,000+ new units added in the year 2022, and 3.5 million units in stock by 15% Compared to 2016 to 2021 which is around 11% this shows that commercial drone operation increased within that period, further pushing the need for efficient inertial sensors that enable reliable navigation and control. This growing reliance on navigation technologies underlines the essential role of inertial sensors, which are thus positioned as key enablers for further refinement of operational capabilities of different industries worldwide.

What are the Challenges Encountered by Manufacturers of Inertial Sensors?

“High Cost of Advanced Inertial Sensors”

Well-designed inertial sensors to demonstrate efforts ranging from micro-electro-mechanical systems to advanced approaches, command a price tag as compared to their simpler counterparts. This high price tag does not help develop their acceptance and use in small applications and among small businesses. Price sensitivity in consumer electronics, automotive, and aerospace sectors can restrict marketplace expansion since many enterprises might turn toward more simple or cheap alternatives. Further, high costs associated with precision component manufacturing can also hinder market expansion, thus limiting innovations in the field.

Many of the industries want customized options to plug into the existing systems. This involves significant R&D support. This added complexity not only increases the cost but also extends the time to market, and, in fast-paced markets, this can pose the most crucial downside. Therefore, such part of manufacturers to introduce costly inertial sensors would compound the overall slowdown in market growth and further narrow the application of advanced sensor technologies in various fields.

Country-wise Insights

Why United States is seeking a high adoption of Inertial Sensor?

“Growth in the Aerospace and Defense Sector”

Attribute	United States
Market Value (2024E)	US$ 3,295.6 Million
Growth Rate (2024 to 2034)	10.1% CAGR
Projected Value (2034F)	US$ 1,263.0 Million

The aerospace and defense market is one of the major propellers for the inertial sensor market in the United States. The defense budget by the U.S. Department of Defense (DoD) projected for fiscal year 2024 is slightly above $886 billion. This explains the commitment of the government to the strengthening of military capabilities and technical integrations.

Inertial sensors are extensively employed in several applications like navigational systems, missile guidance, and unmanned aerial vehicles (UAVs). Therefore, with the increase in development in the technology and standard provisions for effectiveness and precision to the defense systems, the applicability and need for increased performance of inertial sensors are expected.

Moreover, the Federal Aviation Administration (FAA) projects the U.S. aerospace industry to be US$1.2 trillion by 2030, accompanied by the buildup of newer technologies and rising notions for safety in commercial aviation. Inertial sensors find extensive relevance in upgrading flight control systems ensuring better aircraft performance and safety. Such jumps in the aerospace industry, together with an increase in defense budgets, are further expected to boost the demand for inertial sensors.

What makes the Chinese market profitable for Inertial Sensor Manufacturers?

“Inertial Sensor Gain Popularity in China for Recreational Use”

Attribute	China
Market Value (2024E)	US$ 3,468.0 Million
Growth Rate (2024 to 2034)	10.7% CAGR
Projected Value (2034F)	US$ 1,253.6 Million

The fast-growing electronics and automotive industries in China drive the market for inertial sensors. In 2022, according to the National Bureau of Statistics of China, total electronic manufacturing in output value occurred at 126.1 billion (relative to $1.7T), Inertial sensors are integrals in various electronic devices like smartphones, tablets, and wearables, providing ways for motion detection, navigation, and orientation sensing. The rise in demand for smart devices is directly proportional to the demand for inertial sensors as manufacturers work towards improved product functionality.

The automotive sector has received encouragement from the government's initiatives promoting electric and autonomous vehicle development, china aiming for 20% of all vehicles to be electric by 2025. Inertial sensors are essential for enabling advanced driver-assistance systems and autonomous driving technologies, constantly determining the data needed for navigation, stability control, and sensor fusion. The development of the automotive industry gives impetus to growth in demand with a surge for inertial sensors.

Category-wise Insights

Why are Gyroscopes Inertial Sensor Garnering Attention?

“Surge in Demand for Smart Consumer Electronics”

Attribute	Gyroscopes
Market Value (2024E)	US$ 1,277.1 Million
Growth Rate (2024 to 2034)	7.8% CAGR
Projected Value (2034F)	US$ 2,922.3 Million

The increasing demand for intelligent consumer electronics is now shifting focus to gyroscopes as inertial sensors. Previous generations of smartphones and tablets largely relied on these sensors for basic functions such as orientation detection and motion tracking, growing requests from consumers for such features as augmented reality and gaming are forcing manufacturers to integrate high-performance gyroscopes to enhance user experience. Reports indicate the global smartphone market will touch $1.4 trillion by 2030. To put it simply, precise motion-sensing technologies are gaining precedence in all products around us.

Will Automotive Applications be the Dominant Revenue Engine for Inertial Sensor Suppliers?

“Growing Adoption of Advanced Driver Assistance Systems (ADAS)”

Attribute	Automotive
Market Value (2024E)	US$ 2,068.0 Million
Growth Rate (2024 to 2034)	8.7% CAGR
Projected Value (2034F)	US$ 5,149.7 Million

The growing presence of Advanced Driver Assistance Systems, or ADAS, should firmly position automotive applications as the dominant revenue driver for inertial sensor suppliers. Inertial sensors are finding increasing utilization in a raft of new ADAS technologies that improve vehicle safety and automate driving; among these functions are stability control, collision avoidance, and navigation. The OICA recorded a global production of 80 million vehicles in 2022 and believed the amount would increase due to increased safety regulations and consumer demand. This is going to drive huge growth in the automotive industry inertial sensors.

Competitive Landscape

Key players in the Inertial Sensor Market Are Bosch Sensortec GmbH, STMicroelectronics N.V., Analog Devices, Inc., TDK Corporation, Honeywell International Inc., InvenSense, Inc. (TDK Subsidiary), Northrop Grumman Corporation, Murata Manufacturing Co., Ltd., Safran Electronics & Defense, Thales Group, General Electric Company, Trimble Inc., KVH Industries, Inc., Kearfott Corporation, Gladiator Technologies, Sensonor AS, MEMSIC, Inc., VectorNav Technologies, LORD MicroStrain, SBG Systems.

Recent developments in the inertial sensor highlight advancements in MEMS technology, focusing on closed-loop digital accelerometers that enhance performance in challenging industrial environments. Additionally, webinars are being organized to discuss innovations in precision motion control and navigation, underscoring the industry's commitment to improving stability and reducing integration costs.

• On September 11, 2024, TDK Corporation announced the launch of the Tronics AXO314, a closed-loop digital MEMS accelerometer designed for high-dynamics industrial applications. This miniature, robust sensor offers exceptional linearity and vibration rejection, making it ideal for surveying and mapping in harsh environments. Volume production began in May 2024.
• On November 15, 2023, Tronics Microsystems will host a webinar titled "Digital Tactical-Grade MEMS Inertial Sensors for Precision Motion Control, Positioning and Navigation." The session will cover advancements in closed-loop digital MEMS sensor technology, emphasizing stability and reduced integration costs, featuring insights from Parker Aerospace.

Fact.MR's recently published report offers detailed insights into the price points of major Inertial Sensor manufacturers across different regions, along with data on sales growth, production capacity, and potential technological advancements.

Segmentation of Inertial Sensor Industry Research

• By Sensor Type :

  • Accelerometers
  • Gyroscopes
  • Magnetometers
  • Inertial Measurement Units (IMUs)
  • Tilt Sensors
  • Others

• By Technology :

  • MEMS (Micro-Electro-Mechanical Systems)
  • FOG (Fiber Optic Gyroscopes)
  • RLG (Ring Laser Gyroscopes)
  • Mechanical Gyroscopes
  • Vibrating Structure Gyroscopes

• By Functionality :

  • Navigation Systems
  • Motion Detection
  • Vibration Monitoring
  • Stabilization and Control

• By Application :

  • Aerospace & Defense
  • Automotive
  • Consumer Electronics
  • Industrial
  • Healthcare
  • Marine
  • Transportation
  • Others

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa