The global sensor fusion market reached a value of US$ 4.6 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 14.7 Billion by 2027 exhibiting a CAGR of 19.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Sensor fusion refers to a technology used in automobiles to provide a reliable, interactive, and combined representation of the environment around a vehicle by merging inputs from multiple radars, lidars, and cameras. It can also correlate data collected from inside the cabin using software algorithms to create a comprehensive, accurate, and unified model with less uncertainty. It assists in reducing latency, improving the driving experience, enhancing the lane and detection performance. As a result, it is widely utilized in detection devices to generate integrated sensory information with multilateral and high-level recognition mechanisms.
Sensor fusion refers to a technology used in automobiles to provide a reliable, interactive, and combined representation of the environment around a vehicle by merging inputs from multiple radars, lidars, and cameras. It can also correlate data collected from inside the cabin using software algorithms to create a comprehensive, accurate, and unified model with less uncertainty. It assists in reducing latency, improving the driving experience, enhancing the lane and detection performance. As a result, it is widely utilized in detection devices to generate integrated sensory information with multilateral and high-level recognition mechanisms.
Sensor Fusion Market Trends:
The rising trend of self-driving or driverless cars represents one of the key factors augmenting the use of sensor fusion to enable advanced driver assistance (ADAS) features and automated driving functions. Additionally, road safety authorities across the globe are undertaking several initiatives to minimize fatal road accidents, which, in turn, is contributing to the market growth. Apart from this, sensor fusion is utilized in navigation-based applications for combining global positioning systems (GPS) with phone data, including compass, gyroscope, and accelerometer. This, in confluence with the escalating demand for mobile mapping technology, is influencing the market positively. Moreover, the growing adoption of Internet of Things (IoT) devices, which comprise sensors to share and aggregate data, in smart water meters and indoor temperature monitoring systems is catalyzing the demand for sensor fusion worldwide. Furthermore, the increasing focus on health and fitness is driving the adoption of sensor fusion technology in wearable fitness devices. Besides this, market players are introducing software solutions that enhance user experience in enhanced intuitive high-speed gaming. This software can also be used in further applications, such as industrial control, oil exploration, and climate monitoring, which is creating a positive market outlook.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global sensor fusion market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, technology and industry vertical.Breakup by Type:
- Radar Sensors
- Image Sensors
- IMU
- Temperature Sensor
- Others
Breakup by Technology:
- MEMS
- Non-MEMS
Breakup by Industry Vertical:
- Automotive
- Healthcare
- Consumer Electronics
- Military and Defense
- Industrial
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Analog Devices Inc., BASELABS, Bosch Sensortec GmbH (Robert Bosch GmbH), Continental AG, Infineon Technologies AG, InvenSense Inc. (TDK Corporation), Kionix Inc. (ROHM Co. Ltd.), Leddartech Inc., Microchip Technology Inc., NXP Semiconductors N.V., Renesas Electronics Corporation, STMicroelectronics and TE Connectivity Ltd.Key Questions Answered in this Report:
- How has the global sensor fusion market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global sensor fusion market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the industry vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global sensor fusion market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Sensor Fusion Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | February 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 4.6 Billion |
| Forecasted Market Value ( USD | $ 14.7 Billion |
| Compound Annual Growth Rate | 21.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Sensor Fusion Market
6 Market Breakup by Type
7 Market Breakup by Technology
8 Market Breakup by Industry Vertical
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Analog Devices Inc.
- BASELABS
- Bosch Sensortec GmbH (Robert Bosch GmbH)
- Continental AG
- Infineon Technologies AG
- InvenSense Inc. (TDK Corporation)
- Kionix Inc. (ROHM Co. Ltd.)
- Leddartech Inc.
- Microchip Technology Inc.
- NXP Semiconductors N.V.
- Renesas Electronics Corporation
- STMicroelectronics
- TE Connectivity Ltd.
Methodology
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