The global motorcycle inertial measurement unit sensor market size is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising awareness about the product coupled with rising disposable income. Moreover, ongoing advancement in IMU manufacturing technologies are driving the market growth.
An inertial measurement unit is an electronic device that is typically used in automotive applications. It measures and reports a vehicle's specific force (non-gravitational force per unit mass), angular velocity, and changes in the magnetic field surrounding the vehicle or specific parts of the vehicle.
Motorcycle inertial measurement unit sensors are used for increasing the stability of a motorcycle by integrating controls, such as lift-up control and traction control and to provide a safer riding experience.
Inertial Sensing Systems are the measurement systems which measures velocity, gravitational force and orientation of a moving object. These includes drones, planes, ships and others. These systems are used in Artificial Intelligence to reach the destination without any digital interference
Market Trends, Drivers, Restraints, and Opportunities:
- Declining in the average selling price (ASP) of micro-electro-mechanical system gyroscopes and accelerometers is one of the major drivers that are contributing to the growth of the global motorcycle inertial measurement unit systems market.
- Leading vendors are heavily investing in the R&D activities, which is expected to augment the motorcycle inertial measurement unit sensor market growth.
- The presence of alternatives and upcoming substitutes can hinder the market growth. For instance, the easy availability of throttle position center sensors can curb the potential of the market to gain more customer base.
- The outbreak of COVID-19 has negatively impacted the motorcycle inertial measurement unit market. However, the market is anticipated to recover soon.
- Rising adoption of micro-electro-mechanical system technologies in motorcycle sensors is anticipated to propel the market growth.
Scope of the Report
The report on the global motorcycle inertial measurement unit sensor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Motorcycle Inertial Measurement Unit Sensor Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Super-sport motorcycles and Other Heavyweight Motorcycles) and Applications (OEM and Aftermarket)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Bosch Sensortec, Continental, Honeywell International Inc, Texas Instruments, LORD Sensing Systems, and Murata Manufacturing.
Motorcycle Inertial Measurement Unit Sensor Market Segment Insights:
Super-sport motorcycles segment to grow at a rapid pace
Based on types, the market is divided into super-sport motorcycles and other heavyweight motorcycles. The super-sport motorcycles segment is anticipated to account for a key share during the forecast period and is anticipated to grow at a steady rate during the forecast period. However, the other heavyweight motorcycles segment is expected to grow at a healthy CAGR during the forecast period. Rising number of bike riders opting for heavy motorcycles for long trips is driving the segment growth.
Aftermarket segment to account a major market share
Based on applications, the market is divided into OEM and aftermarket. The aftermarket segment is anticipated to account for a major share due to rising demand for inertial unit sensor aided navigation systems and vertical reference units. It is used in various applications such as stabilization of payloads, ground robotics, and pedestrian navigation.
North America to account a large market share
On the basis of regions, the market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America to account for a large market share during the forecast period. The presence of major motorcycle manufacturers and high purchasing power in countries such as the US and Canada are driving the regional market growth. However, Asia Pacific region is expected to register substantial growth in global motorcycle inertial measurement unit sensor market.
Segments Covered in the Report
The global motorcycle inertial measurement unit sensor has been segmented on the basis of
- Super-Sport Motorcycles
- Other Heavyweight Motorcycles
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Bosch Sensortec
- Honeywell International Inc
- Texas Instruments
- LORD Sensing Systems
- Murata Manufacturing
The major players of the market are Bosch Sensortec, Continental, Honeywell International Inc, Texas Instruments, LORD Sensing Systems, and Murata Manufacturing.
Companies are focusing on R&D activities and are engaging in partnerships, mergers, and acquisitions to expand their market share.