REPORT DESCRIPTION
Analysts at IndustryARC forecast a 10.5% CAGR in the Global Inertial Sensor market for the
Period of 2013-2018. The key factor for this forecast is the growth in the market of the
components which are available for cheaper prices, smaller and compact sizes than their
previous versions. The Market also witnessed advancements in the Inertial Sensors with higher
degree of freedom. The increase in the Aerospace, Defense and Commercial sector budget in
most of the developing and developed countries is also a key-factor for the increase in the
market of Inertial Sensors. Safety guidelines and government standards are very crucial in this
market and need to be adhered to by the manufacturers. The accuracy issues may be a challenge
for this market as the systems give position based on preemptive data and there is a margin for
error.
The market is mainly driven by the global demand in the commercial sector of the product. The
applications in different industries like automated agriculture, underwater researches, high speed
trains etc., are the major market drivers for the Inertial Sensors.
The market is predicted to grow steadily in different segments where IMU’s alone are expected
to grow from $2.2bn in 2013 to $3.2bn in 2018. Inertial MEMS such as gyroscopes and
accelerometers are expected to reach $726.1m by 2018. The overall Inertial sensors market
comprising IMU, INS and AHRS is expected to reach $8.5bn in 2018 from around $6.3bn in
2013.
The Inertial sensor uses multiple components like gyroscopes, accelerometers, GPS and
encoders. Events and changes in the inertial sensor market hence directly affect all the above
markets. The global market is expected to grow at 10.5% CAGR for the next 5 years. The
current market size of around $6.2bn is expected to increase to $8.5bn by 2018.
Market Trends for Key Components Of Inertial Sensor Market (2013-2018)
Component
Growth in CAGR%
(2013-2018)
Gyroscopes
8-10%
Accelerometers
9-10%
GPS
4-6%
Encoders
4-5%
Source: IndustryARC Analysis
IndustryARC | 9