LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global motorcycle inertial measurement unit (IMU) sensor market to grow at a CAGR of more than 11% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global motorcycle IMU sensor market for 2017-2021. The report also lists super-sport motorcycles and other heavyweight motorcycles as the two major segments by vehicle type, of which the super-sport motorcycles segment generated 98% of the revenue in 2016.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio analysts highlight the following three market drivers that are contributing to the growth of the global motorcycle inertial measurement unit sensor market:
- Decline in ASP of MEMS gyroscopes and accelerometers
- Advances in IMU manufacturing technologies
- Increased need for better navigation techniques
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Decline in ASP of MEMS gyroscopes and accelerometers
The decline in the ASP of micro-electro-mechanical system (MEMS) gyroscopes and accelerometers is one of the major drivers that will contribute to the growth of the global motorcycle IMU systems market. Over the past eight to ten years, the consumer electronics market has gradually emerged as one of the largest adopters of MEMS devices. Large integrated device manufacturers, such as STMicroelectronics and Texas Instruments, have reportedly broken the USD 1 billion mark in terms of MEMS sales revenue. This decline in the cost of MEMS is expected to make the usage of IMUs more widespread across product lines and end the hegemony of luxury vehicles for IMU applications.
Advances in IMU manufacturing technologies
Vendors such as InvenSense and STMicroelectronics have developed dies that can integrate both accelerometers and gyroscopes into closer packing sizes. Packaged combo sizes of sensors are currently available in sizes of 10x10 sq.mm, which is further expected to decrease with reducing die sizes. Inertial measurement unit (IMUs) are also enhanced with sensor-fusion software in application features such as automatic screen rotation, gesture recognition, step-counting, personal navigation, and free-fall detection. Leading vendors in the motorcycle IMU sensors market, such as Bosch Sensortec and Continental, have increased their investments in the R&D of sensors.
“The huge sales potential of this market has motivated vendors to invest more in these activities and set high standards for every end-product in this space. The increase in R&D investments has led to the development of advanced versions of IMUs, efficient gyroscopes, and accelerators, which will drive the growth of the market and sustain it during the forecast period,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research.
Increased need for better navigation techniques
Vehicle tracking systems require GPS, and the technology requires the usage of automotive MEMS sensors, especially accelerometers. Accelerometers help in tracking the vehicle, even if the GPS signal is lost, by using a previous GPS-determined position. MEMS gyroscopes are also found in some MEMS applications to track vehicles. Hence, MEMS devices improve the accuracy of tracking vehicles and assist in navigation functions. An increase in the number of applications of MEMS devices in automobiles makes them more attractive for end-users, and this boosts the market growth.
“Bosch Sensortec's motorcycle IMU sensor unit can be used for motorcycle navigation. It is installed in the motorcycle and combined with navigation solutions to optimize the positioning and direction ability of motorcycle navigation systems. This helps in navigation even in the absence of the global navigation satellite system,” says Siddharth.
Browse Related Reports:
- Global Motorcycle Hill Hold Control System Market 2017-2021
- Global Automotive Passive Safety System Market 2017-2021
- Global Motorcycle Rear and Front Wheels Lift-up Control Market 2017-2021
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
