MEMS-Based Inertial Measurement Unit (IMU) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Global MEMS-Based Inertial Measurement Unit (IMU) Market is expected to have a CAGR of 11.2% over the forecast period. The market's growth is primarily fueled by the increase in the number of applications, technological advancements, and the increasing demand in emerging countries globally. The MEMS technology played a significant role in expanding the application base for inertial measurement systems by scaling down these devices' size and power consumption without compromising on their performance metrics, thereby driving the market's growth.
Key HighlightsThe MEMS-based Inertial Measurement Unit Market is fragmented. Overall, the competitive rivalry among existing competitors is high. Moving forward, acquisitions and partnerships of large companies are focused on innovation. Some of the key players in the market are Honeywell International Inc., Analog Devices Inc., Bosch Sensortec GmbH, and STMicroelectronics International N.V.
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