Automotive inertial measurement unit (IMU) sensors: Key market research findings
- Advent of autonomous cars to propel market growth
- Passenger car segment to continue its dominance over the global market
- Key vendors – Honeywell, Texas Instruments, LORD, ZF TRW, Continental, Murata Manufacturing, and Bosch
According to Technavio’s market research analysts, the global automotive IMU sensors market is expected to post a revenue of almost $4 billion by 2020. The emergence of sensor clusters is propelling the demand for automotive IMU sensors in the market. Owing to the growing applications of such cluster architecture toward the center of the vehicle, a comparatively less number of sensors are needed to provide the guidance information required by various subsystems in a vehicle like navigation. Sensor clustering is seen as an approach which has been adopted as a short term technological goal by many automotive OEMs. During 2015, the global automotive IMU sensors market was dominated by APAC with a market share of around 40%. The market in this region will showcase significant growth during the forecast period owing to the promising economic growth potential in emerging countries, like China and India.
The new makret research report from Technavio presents a breakdown and analysis of the automotive IMU sensor segments based on the vehicle type.
“The advent of autonomous cars is likely to propel the demand for automotive IMU sensors in the market. The prospect of autonomous cars co-existing with human drivers highlights the need for a reliable means of machine-navigation. IMUs and various ongoing researches pertaining to the ehnacement of their accuracy by means of sensor fusion and otherwise, are the prime candidates for being the building blocks of navigation systems in autonomous cars. IMUs are already being used in the Google cars, along with other accompaniments like LiDAR sensors, and are a proven component of the vehicular autonomy bandwagon,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
According to our analysts, the passenger car segment dominated the global automotive IMU market in 2015 by accounting for almost 85% of the overall market revenue. The passenger cars market segment will continue its dominance in the industry during the next four years as well inspite of a projected increase in the adoption of IMU sensors in commercial vehicles. Analysts estimate this segment of the market to account for almost 80% of the total market revenue by the end of the forecast period.
The key vendors in the global automotive IMU sensors market include Honeywell, Texas Instruments, LORD, ZF TRW, Continental, Murata Manufacturing, and Bosch. The market is characterized by the presence of a number of global and regional players and is highly fragmented. Except for Murata Manufacturing and Continental, the product portfolio of other vendors seems to be in tandem with their presence in the market. The recent focus towards a joint focus on fiber-optic gyroscopes (FOG)-based and micro-electro-mechanical systems (MEMS)-based IMUs is expected to prompt a number of vendors to diversify their product portfolio by including MEMS IMUs, and as a result, intensify the level of competition in the already competitive market.
A more detailed analysis is available in the Technavio report, Global Automotive IMU Sensors Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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