The Sensor Fusion Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Sensor Fusion Global Market Report 2024, The sensor fusion market size has grown rapidly in recent years. It will grow from $5.55 billion in 2023 to $6.63 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to miniaturization of sensors, mobile device proliferation, automotive safety regulations, defense and aerospace applications, industrial automation.
The sensor fusion market size is expected to see rapid growth in the next few years. It will grow to $12.8 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to iot and smart cities initiatives, consumer electronics evolution, medical imaging and healthcare, energy efficiency concerns, wearable health tech expansion, cloud-based sensor fusion services. Major trends in the forecast period include ai and machine learning integration, robotics advancements, augmented reality (ar) and virtual reality (vr) applications, environmental sustainable solutions.
An increase in the penetration of electric vehicles is expected to propel the growth of the sensor fusion market going forward. An electric vehicle is a vehicle that can be driven by an electric motor that draws energy from a battery and is charged externally. Sensor fusion plays a critical role in enabling electric vehicles' functionality, safety, energy efficiency, and autonomous capabilities, making it an essential component of the evolving automotive industry. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles doubled to 6.6 million in 2021 compared to 2020, bringing the total number of electric vehicles on the road to 16.5 million. Therefore, the increased penetration of electric vehicles is driving the growth of the sensor fusion market.
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The sensor fusion market covered in this report is segmented –
1) By Type: Radar Sensor, Image Sensor, Inertial Measurement Unit (IMU), Temperature Sensor, Other Types
2) By Technology: Micro-Electronic Mechanical Systems (MEMS), Non-Micro-Electronic Mechanical Systems (MEMS), Other Technologies
3) By Application: Smartphones, Tablets, TV Remote, Camera, Video Games, Other Applications
4) By End User: Consumers Electronics, Automotive, Home Automation, Medical, Military, Industrial
Technological advancements are a key trend gaining popularity in the sensor fusion market. Major companies operating in the sensor fusion market are using advanced technologies to sustain their position in the market. For instance, in November 2022, STMicroelectronics, a Switzerland-based semiconductor manufacturer, introduced the LSM6DSV16X, an advanced 6-axis inertial measurement unit (IMU) that integrates artificial intelligence (AI), adaptive self-configuration (ASC), and technology for more excellent power optimization using sensor fusion low power (SFLP). The IMU can host quick and potent edge processing with less energy consumption due to ST's Sensor Fusion Low Power (SFLP) technology, which is used with ASC. The LSM6DSV16X is perfect for advanced 3D phone mapping and context awareness on laptops and tablets because its innovative architecture enables sophisticated processing at the edge.
The sensor fusion market report table of contents includes:
1. Executive Summary
2.Sensor Fusion Market Characteristics
3.Sensor Fusion Market Trends And Strategies
4. Sensor Fusion market analysis
5. Sensor Fusion Market Size And Growth
6.Sensor Fusion Segmentation
7. Sensor Fusion Regional And Country Analysis
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27.Sensor Fusion Competitive Landscape And Company Profiles
28. Sensor Fusion Key Mergers And Acquisitions
29.Sensor Fusion Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Qualcomm Technologies Inc.
- Broadcom Inc.
- Cummins Inc.
- NVIDIA Corporation
- Asahi Kasei Microdevices Corporation
- Texas Instrument Incorporated
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The Global Sensor Fusion Market research study published by Emergen Research is an extensive collection of insightful information about the Sensor Fusion industry.
The report covers the Sensor Fusion Market segmentation along with a detailed outline of the Sensor Fusion market size with regards to volume and valuation.
The report provides comprehensive coverage of the Sensor Fusion market scenario for the current period and forecast timeline of 2020-2027The 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.Market Dynamics:The report offers insightful information about the market dynamics of the Sensor Fusion market.
It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Sensor Fusion market, competitive landscape, factors affecting it, and to predict the growth of the industry.
It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Sensor Fusion market.Get a sample of the report @ https://www.emergenresearch.com/request-sample/130Table of Contents:Chapter 1 includes an introduction of the global Sensor Fusion market, along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.In Chapter 4, our team has fragmented the market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.Top competitors of the Sensor Fusion Market profiled in the report include:Robert Bosch GmbHHillcrest labsMicrochip Technologies Inc.Cummins, Inc.Kionix Inc.Renesas Electronics CorporationAsahi Kasei Microdevices CorporationKey Points of Sensor Fusion Market:Extensive coverage of the analysis of the Sensor Fusion marketKey insights into the regional spread of the industry in key geographiesRadical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the marketComprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Sensor Fusion marketComplete data about the key manufacturers and vendors in the Sensor Fusion marketTo know more about the report, visit @https://www.emergenresearch.com/industry-report/sensor-fusion-market Thank you for reading the report.
Global Sensor Fusion Market size was valued at US$ 2.25 Bn in 2019 and is expected to reach US$ 9.59 Bn by 2026 to exhibit a CAGR of 19.87 % during the forecast period.The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters.
The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, End-Use Application-validated Market data and projections with a suitable set of assumptions and methodology.
The report also helps in understanding global sensor fusion market dynamics, structure by identifying and analyzing the market segments and project the global market size.Further, the report also focuses on the competitive analysis of key players by Technology, price, financial position, Technology portfolio, growth strategies, and regional presence.
The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global sensor fusion market.Sensor fusion is a technology that combines data from various other sensors to gain a more accurate picture of the sensor’s subject to expand the system performance or to develop the application.
Sensor fusion is commonly used in scientific research installations, in camera systems, and image processing.The growth of the market is driven by growing demand for consumer electronic devices such as smartphones, wearable devices, gaming consoles, and smart TVs, the rising trend of miniaturization in electronics, increasing demand for advanced driver assistance systems and growing demand for image and radar-based products in automotive safety systems.One of the main restraining factors for this market is the lack of standardization and coordination process of the MEMS sensor and related software is hampering the growth of the market.
