Sensor fusion Market Expected to Grow USD 2.25 billion units by 2023

“\” Sensor Fusion Global Market \””
Worldwide sensor fusion market is expected to grow from USD 2.25 billion in 2017 to USD 6.37 billion by 2023, at a compound annual growth rate (CAGR) of 19.45% during the forecast period. The scope of the report includes a detailed study of Sensor fusion Market with the reasons given for variations in the growth of the industry in certain regions. The Sensor fusion Market is segmented on the lines of its end-user, component and regional. On the basis of component

Sensor Fusion Global Market   – Overview 

The global sensor fusion market has been evaluated as growing market and expected that the market will touch high growth figures in upcoming years. The increasing investment by automakers and consumer electronics industries in designing and manufacturing sensors to serve application such as smartphones, robotics and medical is developing the growth in sensor fusion market.

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Key players

The prominent players in the sensor fusion market are NXP Semiconductor N.V. (Netherlands), Kionix, Inc. (Japan), Robert Bosch GmbH (Germany), Cummins, Inc. (US), Renesas Electronics Corporation (Japan), MEMSIC, Inc. (US), Analog Device, Inc. (US), Senion (Sweden), Microchip Technologies Inc. (US), Baselabs (Germany), STMicroelectronics (Switzerland) among others.

Sensor Fusion Market:

Sensor Fusion is a process where multiple data generated from various sensors fused together to compute more accurate and more complete information for the industries. The sensor fusion market is expected to gain huge traction from various application areas including consumer electronics and automotive. The driver assistance systems are supporting the growth of automotive sector of sensor fusion market.

The technologies such as MEMS and non-MEMS offer high growth prospective in various application sectors such as consumer electronics, automotive, military, medical, and robotics among others.

Sensor Fusion Global Market   – Segments

The global Sensor Fusion Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Sensor Type    : Comprises – accelerometer, capacitive sensors, pressure sensors, temperature sensors, touch sensors, radar sensors, and image sensors among others.

Segmentation by Technology      : Comprises – MEMS and non-MEMS technology.

Segmentation by Applications    : Comprises – consumer electronics, automotive, medical, military, and robotics among others.

Segmentation By Regions   : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.

Sensor Fusion Global Market   – synopsis

Pervasive, ubiquitous computing is coming ever closer, and the implications for user driven preventative healthcare are immense. Modern smartphones and related devices now contain more sensors than ever before. Microelectromechanical Systems (MEMS) have made many leaps in recent OPEN ACCESS Sensors, and it is now common to find sensors including accelerometers, magnetometers and gyroscopes in a variety of smart devices. The addition of these sensors into everyday devices has paved the way towards enhanced contextual awareness and ubiquitous monitoring for healthcare applications. The pervasive nature of these devices becomes particularly apparent when reviewing the rate of global sales. Total smartphone sales alone are estimated to have surpassed 837 million units in 2013.

The consumer electronics and automotive applications captured the larger share of the market. However, home automation application is anticipated to grow at the highest CAGR during the forecast period, followed by the automotive application.

Market Research Analysis:

The growing advancement of sensor technology in smartphones and tablets is developing profitable environment of sensor designers and manufacturers. In the coming years, it is expected that the Sensor Fusion market will advance with higher growth rate as compared to previous years. Also, growing demand and high usage of technically upgraded robots by automotive industries is improving the market growth in upcoming years. The current challenges for the market are lack of security standards and changing mobility environment due to lack of robustness which is thereby hampering the market growth.

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List Of Tables

Table 1 Global Sensor Fusion Market (Usd Billion)

Table 2 Global Sensor Fusion Market, By Types Of Sensors

Table 3 Global Accelerometer Market, By Region

List Of Figures

Figure 1 Research Process

Figure 2 Drivers Of Global Sensor Fusion Market

Figure 3 Global Sensor Fusion Market: By Type

Continued…

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