In October 2022, market research firm ReportLinker published a report on the global IMU market forecast for 2020-2027, which predicts the global IMU market to reach a value of USD 23.6 billion by 2027, growing at a CAGR of 5.4% during 2020-2027.
ReportLinker has recently revised its IMU market forecast report following the economic recovery after the new crown, and the revised forecast report expects the global IMU market to reach 33.5 billionUSD, growing at a CAGR of 10.1%, compared to ReortLinker's report published in 202210, the IMU market amount is expected to increase by $9.9 billion with an expected CAGR of 4.7%.
Commercial-grade IMUs are expected to grow at a CAGR of 10.1% to reach $13.7 billion by the end of 2027.
The navigation grade IMU segment is rebalanced to grow at a CAGR of 10.8% over the period 2020-2027.
China, the world's second largest economy, is expected to reach 10.8 billionUS$ projected market size, growing at a CAGR of 12.2%The previous report forecast the Chinese market to be $7.2 billion, with a CAGR of 6.7%.
Other notable regional markets include Latin America and other Asian countries/regions, which are expected to grow at a rate of 10.6% and 11.8%, respectively, during 2020-2027.
Led by countries such as Australia, India and South Korea, the market in Asia Pacific is expected to reach $6.8 billion by 2027.