Sensor Fusion Market Size, Share, Top Key Players, Growth, Trend and Forecast Till 2027


The growing use of sensor fusion technology in the smartphone devices, and rising demand for smart wearable devices drives the market growth.

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The global Sensor Fusion Market is anticipated to reach USD 16.72 Billion by 2027, according to a new report by Emergen Research. Sensor Fusion Market Size – USD 4.06 billion in 2019, Market Growth - CAGR of 19.6%, Market Trends – The increasing need for high-end applications based on location detection .Radar and image sensors are anticipated to grow at a significant CAGR of 19.8% in the forecasted timeframe. 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. The growing use of sensor fusion technology in the smartphone devices, and rising demand for smart wearable devices drives the market growth. 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.

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. Exhaustive coverage of the COVID-19 impact on the Sensor Fusion  industry is a major attraction of the report. The global health emergency has beleaguered the global economy, thereby disrupting this particular business domain’s functioning mechanism. It assesses the present market scenario and forecasts the pandemic’s aftermath in this business sector to help organizations boost their COVID-19 preparedness.

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In addition, the market is growing at a fast pace and the report shows us that there are a couple of key factors behind that. The most important factor that’s helping the market grow faster than usual is the tough competition. 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. Micro-Electro-Mechanical technology-based solutions are anticipated to experience the highest growth rate in vehicle safety systems. 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.

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.

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

Others

Technology Outlook (Revenue, USD Billion; 2017-2027)

Micro-Electro-Mechanical Systems

Non-Micro-Electro-Mechanical Systems

Axis Outlook (Revenue, USD Billion; 2017-2027)

9-Axis

6-Axis

3-Axis

Application Outlook (Revenue, USD Billion; 2017-2027)

Smart Phones

TV Remote

PCs/Tablet

Camera

Wearable Devices

Others

End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)

Healthcare

Automotive

Home Automation

Consumer Electronics

Others

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Key Objectives of the Report:

Analysis and estimation of the Sensor Fusion  market size and share for the projected period of 2020-2027

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Sensor Fusion  market

Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

Regional Analysis of the Sensor Fusion  Market:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Market Taxonomy:

Chapter 1: Methodology Scope

  • Definition and forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2:

Executive Summary

  • Business trends
  • Regional trends
  • Product trends
  • End-use trends

Chapter 3:

Industry Insights

  • Industry segmentation
  • Industry landscape
  • Vendor matrix
  • Technological and innovation landscape

Chapter 4:

Regional Landscape

Chapter 5:

Company Profile

  • Business Overview
  • Financial Data
  • Product Landscape
  • Strategic Outlook

Read More: https://www.emergenresearch.com/industry-report/sensor-fusion-market

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At Emergen Research, we believe in advancing with technology. We are a growing market research         and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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