The Global Sensor Fusion market report presents comprehensive information covering insightful data for businesses and investors. The report studies the historical data of the Sensor Fusion market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
The global Sensor Fusion Market is anticipated to reach USD 16.72 Billion by 2027, according to a new report by Emergen Research. The Sensor Fusion market is forecasted to grow significantly due to the growing demand for smart wearable gadgets and high-end applications for location detection. The rising use of sensor fusion in advanced automobiles like gasoline direct injections, vehicle stability, low emission engine, dynamic vehicle controls, and rapid implementation of IoT technology and expansion of self-directed or driverless cars is expected to fuel the market growth shortly.
Growing demand for various end-use applications, such as automotive, home automation, industrial and military, consumer electronics, healthcare among others, has significantly boosted the global market demand for sensor fusion. The factors hindering the growth of the sensor fusion market are the rising complexity of sensor fusion algorithms requiring software overhead, additional processing capabilities and technical standardisation.
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Some Key Highlights from the Report
- Radar and image sensors are anticipated to grow at a significant CAGR of 19.8% in the forecasted timeframe. In several industries, excellent features like high accuracy and integrating multiple images into a single combo image radar drives the demand for the product.
- Micro-Electro-Mechanical technology-based solutions are anticipated to experience the highest growth rate throughout the forecasted timeframe owing to the growing demand for image and radar-based products in vehicle safety systems.
- Due to the price, combined functionality, low power consumption, communication protocol, and flexibility with manufacturer products, the 6-axis built-in sensor fusion dominates the market. Furthermore, due to applications in virtual reality and augmented reality games, robotics and autonomous vehicles, and attitude alignment, the 9 axis segment has also witnessed an increased demand.
The latest research report entails an in-depth analysis of the current growth opportunities for various regions of the Sensor Fusion market, gauging their revenue share over the forecast timeline. Furthermore, the report analyzes the year-on-year growth rate of these regions over the forecast duration. The leading market regions profiled in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
The latest report encases an in-depth summary of the intensely competitive landscape of the global Sensor Fusion market, with systematic profiling of the companies operating across this industry. In this section of the report, experts have listed down the strategic initiatives undertaken by these market rivals for proposed business expansion. Additionally, it highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of the established and new players have also been assessed in the report through effective analytical tools like SWOT analysis.
The leading players in the market include Robert Bosch GmbH, Hillcrest Labs, Microchip Technologies Inc., Cummins, Inc., Kionix Inc., Renesas Electronics Corporation, MEMSIC Inc., Asahi Kasei Microdevices Corporation, STMicroelectronics, BASELABS GmbH and among others.
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Emergen Research has segmented the global sensor fusion market based on type, technology, application, axis, end-use industry, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Radar and Image Sensors
- Temperature Sensors and Pressure Sensors
- IMU and GPS
- Inertial Combo Sensors
Technology Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Axis Outlook (Revenue, USD Billion; 2017-2027)
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
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