Global High-end IMU market is anticipated to grow at a CAGR of 5.74% by the year 2024

(IT-NEWSWIRE.COM, January 08, 2018 ) Global High-end IMU market is expected to reach USD 23.13 Billion in 2024 from USD 16.52 Billion in 2017 at a CAGR of 5.74%. Factors involved in the growth of High-end IMU market include increased usage of IMU's for navigation, surveying in military, marine and aerospace industries.

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Commercial grade segment holds the largest share in the market

Based on grade type, High-end IMU market is segmented as Tactical grade, Navigation grade, Strategic grade and commercial grade. Commercial grade inertial holds the largest share in the market owing to the increasing demand for IMU in both automotive, security and maintenance systems industries. Commercial grade inertial is sub-segmented as Consumer grade inertial and Enterprise grade inertial. Among these, Consumer grade inertial is used for navigation in smartphones, tablets, and laptops. Enterprise-grade inertial is used in aerospace industries for manufacturing unmanned aerial vehicles with accurate navigation and security systems.

Aerospace and Defense industries hold the largest share in the market

Based on end-user application, High-end IMU market is segmented as Aerospace, Defense, Industrial manufacturing, Construction, Security and maintenance systems industries. Out of these, Aerospace and Defense industries hold the most significant share in the market owing to increased demand for IMU for accurate navigation and good autopilot systems in cargo jets and ships. Industrial manufacturing is expected to hold significant shares in the market owing to increased usage of IMU in manufacturing various products for end-user applications.

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North America held the most significant share in the market in 2017

As result of evolving technology, North America held the most significant share in the market owing to the increasing demand for high-end IMU in various end-user applications. North America is followed by Europe. Asia-Pacific region is anticipated to hold significant shares in the market during the forecast period as of the advancements in technologies in various industries across the region.

The crucial players in the High-end IMU market include Honeywell International Inc, Siemens AG, ABB Ltd, Generic Electric Company and Kongsberg Gruppen among others.

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Global High-end IMU market is anticipated to grow at a CAGR of 5.74% by the year 2024