Sensor Fusion Market by Manufacturers, Type and Application, Regions, Segmentation and Forecast to 2023
Sensor Fusion Market Insights
global sensor fusion market Growing at a CAGR of 19.45% during the forecast period from 2018 to 2023, the global sensor fusion market was valued at USD 2.25 Bn in 2017 and will grow to reach a value of USD 6.37 Bn by 2023.
Sensor fusion is a technology which allows the combination of data derived from various sensors to create a more accurate image of the subject which ultimately helps improve system performance and improves application. A part of data fusion, sensor fusion has immense potential and has been exhaustively researched by Market Research Future in their latest report on the subject. Sensor fusion is most commonly deployed in research installations, camera systems, and image processing. A variety of important applications which are growing have impacted growth for the global sensor fusion market. The major factors lashing the development of sensor fusion market includes increasing adoption of sensor fusion in consumer electronics such as smartphones, and wearable devices, rising home automation applications, and growing advanced driver assistance system in automotive industry. However, the large initial rate of disposition and the lack of standards in memory devices and automotive sensor fusion systems are expected to hinder the growth of sensor fusion market during the forecast period.
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Sensor Fusion Market Key Players
Analog Device, Inc., Kionix, Inc., Renesas Electronics Corporation, Baselabs, Microchip Technologies Inc., MEMSIC, Inc., Cummins, Inc., Robert Bosch GmbH, STMicroelectronics, Senion, and NXP Semiconductor N.V. are among the leading market participants that have been included in the MRFR report's competitive analysis.
Sensor Fusion Market Global Market - Segmentation
Segmentation by Type of Sensor: Accelerometer, Capacitive Sensor, Pressure Sensor, Temperature Sensors, Touch Sensor, Radar Sensor, Image sensor among others.
Segmentation by Technology: MEMS and Non-MEMS technology.
Segmentation by Application: Consumer Electronics, Robotics, Aerospace, & Defence, Automotive, Healthcare, and others.
Segmentation by Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Industry News
January 2018, Ainstein Introduces 79 GHz Automotive Short-Range Radar T-79. Ainstein's T-79 Short Range Radar is built on RF-CMOS IC technology, allowing for ultra-low power consumption and unit cost. The highly integrated hardware design paired with Ainstein's proprietary advanced radar signal processing algorithms makes it capable of high resolution 360° detection when multiple units are configured on the vehicle. This allows for semi-autonomous or fully autonomous driving.
January 2018 Sensor Fusion Is the Next Step: AEye and Tetravue. Start-up AEye is planning to integrate both lidar and a traditional camera onto its sensor, adding enough intelligence that it can optimize the laser pattern it emits based on feedback from both the lidar and the camera. It expects the result to be as much as five times more efficient than a typical MEMS-based lidar solution and provide a full RGB+depth image. It’s calling its new approach iDAR and expects it to be 10 to 20 times more effective than traditional lidar when identifying objects.
Tetravue aims to achieve something similar. It’s working on a system where a traditional camera sensor can be fixed with a light slicer so that in addition to RGB data, the unit will also get accurate depth information.
HARMAN International has recently announced the launch of its advanced driver assistance systems which makes use of sensor fusion to improve the sensing capabilities of the system.
Sensor Fusion Market Regional Analysis
The Asia Pacific is on track to be the largest region in the global sensor market by 2022. The region is a hub for electronics manufacture and innovation. The region itself also displays a high volume of demand for electronics such as smartphones, tablets, and wearable devices. Moreover, there is development of autonomous vehicles in the region which encourages the growth of the sensor fusion market in the APAC region. North America and Europe follow the Asia Pacific market in terms of market size. Both regions have substantially strong players in the global market.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued…
LIST OF TABLES
Table 1 Global Sensor Fusion Market, By Region, 2018–2023
Table 2 North America: Sensor Fusion Market, By Country, 2018–2023
Table 3 Europe: Sensor Fusion Market, By Country, 2018–2023
Continued…
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LIST OF FIGURES
FIGURE 1 Global Sensor Fusion Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Sensor Fusion Market
Continued…
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