| Product Code: ETC7913305 | Publication Date: Sep 2024 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Vasudha | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
Latvia`s inertial sensor import shipments in 2024 continued to be dominated by key exporters such as the USA, Turkey, Sweden, Taiwan, Province of China, and the UK. The market concentration, as indicated by the Herfindahl-Hirschman Index (HHI), remained very high in 2024, reflecting the significant market power held by these top exporting countries. However, the industry experienced a significant decline with a negative Compound Annual Growth Rate (CAGR) of -25.79% from 2020 to 2024, and a sharp growth rate decrease of -65.32% from 2023 to 2024, indicating challenges and potential shifts in the market dynamics.

1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Latvia Inertial Sensor Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Inertial Sensor Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Inertial Sensor Market - Industry Life Cycle |
3.4 Latvia Inertial Sensor Market - Porter's Five Forces |
3.5 Latvia Inertial Sensor Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Latvia Inertial Sensor Market Revenues & Volume Share, By Component, 2021 & 2031F |
3.7 Latvia Inertial Sensor Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Latvia Inertial Sensor Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing adoption of inertial sensors in consumer electronics for applications such as smartphones, wearables, and gaming devices. |
4.2.2 Growing demand for autonomous vehicles and drones, driving the need for high-precision inertial sensors. |
4.2.3 Technological advancements leading to miniaturization and improved performance of inertial sensors. |
4.3 Market Restraints |
4.3.1 High initial investment and maintenance costs associated with advanced inertial sensor technologies. |
4.3.2 Lack of skilled workforce for the development and manufacturing of inertial sensors. |
4.3.3 Potential challenges related to calibration and accuracy of inertial sensors in complex environments. |
5 Latvia Inertial Sensor Market Trends |
6 Latvia Inertial Sensor Market, By Types |
6.1 Latvia Inertial Sensor Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Inertial Sensor Market Revenues & Volume, By Type, 2021- 2031F |
6.1.3 Latvia Inertial Sensor Market Revenues & Volume, By Attitude Heading and Reference Systems (AHRS), 2021- 2031F |
6.1.4 Latvia Inertial Sensor Market Revenues & Volume, By Inertial Navigation Systems/Inertial Navigation Units (INUs), 2021- 2031F |
6.1.5 Latvia Inertial Sensor Market Revenues & Volume, By Inertial Measurement Units (IMUs), 2021- 2031F |
6.2 Latvia Inertial Sensor Market, By Component |
6.2.1 Overview and Analysis |
6.2.2 Latvia Inertial Sensor Market Revenues & Volume, By Accelerometers, 2021- 2031F |
6.2.3 Latvia Inertial Sensor Market Revenues & Volume, By Gyroscopes, 2021- 2031F |
6.2.4 Latvia Inertial Sensor Market Revenues & Volume, By Encoders, 2021- 2031F |
6.2.5 Latvia Inertial Sensor Market Revenues & Volume, By Magnetic Sensor, 2021- 2031F |
6.2.6 Latvia Inertial Sensor Market Revenues & Volume, By GPS, 2021- 2031F |
6.3 Latvia Inertial Sensor Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 Latvia Inertial Sensor Market Revenues & Volume, By Transport, 2021- 2031F |
6.3.3 Latvia Inertial Sensor Market Revenues & Volume, By Agriculture, 2021- 2031F |
6.3.4 Latvia Inertial Sensor Market Revenues & Volume, By Healthcare, 2021- 2031F |
6.3.5 Latvia Inertial Sensor Market Revenues & Volume, By Devices & Machinery (Commercial), 2021- 2031F |
6.3.6 Latvia Inertial Sensor Market Revenues & Volume, By Air Force, 2021- 2031F |
6.3.7 Latvia Inertial Sensor Market Revenues & Volume, By Navy & Military (Defense), 2021- 2031F |
7 Latvia Inertial Sensor Market Import-Export Trade Statistics |
7.1 Latvia Inertial Sensor Market Export to Major Countries |
7.2 Latvia Inertial Sensor Market Imports from Major Countries |
8 Latvia Inertial Sensor Market Key Performance Indicators |
8.1 Average selling price (ASP) of inertial sensors in Latvia. |
8.2 Number of research and development partnerships or collaborations focused on advancing inertial sensor technology in the market. |
8.3 Rate of adoption of inertial sensors in emerging applications such as augmented reality (AR) and virtual reality (VR) devices. |
9 Latvia Inertial Sensor Market - Opportunity Assessment |
9.1 Latvia Inertial Sensor Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Latvia Inertial Sensor Market Opportunity Assessment, By Component, 2021 & 2031F |
9.3 Latvia Inertial Sensor Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Latvia Inertial Sensor Market - Competitive Landscape |
10.1 Latvia Inertial Sensor Market Revenue Share, By Companies, 2024 |
10.2 Latvia Inertial Sensor Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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