Automotive Inertial Measurement Unit Sensors Market to Grow by 6.77 Billion during 2020-2024

Strategic Insights -

The automotive inertial measurement unit sensors market is expected to grow by USD 6.77 billion during 2020-2024, driven by strong demand for IMU sensors from the automotive industry. The market is highly fragmented, with key players including Continental AG, Honeywell International Inc., KVH Industries Inc., Murata Manufacturing Co. Ltd., Parker-Hannifin Corp., Robert Bosch GmbH, Safran SA, STMicroelectronics NV, Texas Instruments Inc., and ZF Friedrichshafen AG. The presence of regulatory framework is a major growth factor for the market, and the market is expected to experience a year-over-year growth rate of 28.96% in 2020.

Key Takeaways:

  • The strong demand for IMU sensors from the automotive industry is a key factor driving market growth.
  • The market is highly fragmented, with a large number of players competing for market share.
  • Key players in the market include Continental AG, Honeywell International Inc., KVH Industries Inc., Murata Manufacturing Co. Ltd., Parker-Hannifin Corp., Robert Bosch GmbH, Safran SA, STMicroelectronics NV, Texas Instruments Inc., and ZF Friedrichshafen AG.
  • The presence of regulatory framework is a major growth factor for the market.
  • The market is expected to experience a year-over-year growth rate of 28.96% in 2020.
  • The market is expected to grow by USD 6.77 billion during 2020-2024.
  • The market is expected to be driven by the increasing adoption of autonomous vehicles and the growing demand for safety features in vehicles.
  • The market is expected to be hindered by the high cost of IMU sensors and the complexity of implementing them in vehicles.

Statistics:

  • Market size: Growth of USD 6.77 billion during 2020-2024.
  • Year-over-year growth rate: 28.96% in 2020.
  • Market fragmentation: Highly fragmented market with a large number of players competing for market share.
  • Key players: Continental AG, Honeywell International Inc., KVH Industries Inc., Murata Manufacturing Co. Ltd., Parker-Hannifin Corp., Robert Bosch GmbH, Safran SA, STMicroelectronics NV, Texas Instruments Inc., and ZF Friedrichshafen AG.
  • Regulatory framework: Presence of regulatory framework is a major growth factor for the market.

Sources:

  • Business Wire: "Technavio has announced its latest market research report titled Global Automotive Inertial Measurement Unit Sensors Market 2020-2024".
  • Technavio: "Automotive Inertial Measurement Unit Sensors Market 2020-2024".
  • Business Wire: "Technavio's research report on the global automotive inertial measurement unit sensors market".
  • Technavio: "SUBSCRIPTION platform Automotive Inertial Measurement Unit Sensors Market 2020-2024".
  • Technavio: "Automotive Inertial Measurement Unit Sensors Market 2020-2024: Scope".
  • Technavio: "Vendor Analysis".
  • Technavio: "List of abbreviations".