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The growing use of sensor fusion technology in the smartphone devices, and rising demand for smart wearable devices drives the market growth.
SURREY, BRITISH COLUMBIA, CANADA , December 2, 2021 /EINPresswire.com/ — The global Sensor Fusion Market is anticipated to reach USD 16.72 Billion by 2027, according to a new report by Emergen Research. 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. 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 report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Sensor Fusion market .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. In several industries, excellent features like high accuracy and integrating multiple images into a single combo image radar drives the demand for the product. The growing use of sensor fusion technology in the smartphone devices, and rising demand for smart wearable devices drives the market growth. 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. 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.
Radar and image sensors are anticipated to grow at a significant CAGR of 19.8% in the forecasted timeframe. 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. The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Sensor Fusion market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The home automation segment is projected to hold a substantial growth rate throughout the forecast period as most of the sensor fusion is used for monitoring and controlling purposes in home automation applications using the various sensor. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities. 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.
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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
Technology Outlook (Revenue, USD Billion; 2017-2027)
Axis Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
Get Discount on the Report: https://www.emergenresearch.com/request-discount/130
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)
Chapter 1: Methodology & Scope
• Definition and forecast parameters
• Methodology and forecast parameters
• Data Sources
• Business trends
• Regional trends
• Product trends
• End-use trends
• Industry segmentation
• Industry landscape
• Vendor matrix
• Technological and innovation landscape
• 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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Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
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