Global Sensor Fusion Market is valued approximately at USD 5.33 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 19.25% over the forecast period 2022-2028. Sensor fusion is the process of integrating sensor data or data resultant from different bases to get most accurate data. In other words, it is the combination of sensors to receive more reliable and precise information rather than using individual sensors. The growing trend of autonomous vehicles and advanced driver assistance systems (ADAS) are further integrating new RADAR, camera, LIDAR, and GNSS sensors into these vehicles. This rapid change requires flexible test systems to deploy products quickly and safely, hence driving the need for sensor fusion systems in the industry. Therefore, the growing functionality of autonomous vehicles is mainly driving the growth of sensor fusion in the autonomous vehicle sector over the forecast period. ''The growing demand for integrated sensors in smartphones, increasing inclination towards the miniaturization in electronics, the rising trend incorporating fusion technology in consumer electronics device applications such as gesture recognition, orientation, and position detection, navigation, optical image stabilization, activity tracking, and many others are the primary factors that are stimulating the market demand across the globe. For instance, as per the Independent Communications Authority of South Africa's (ICASA's) new report on the State of ICT Sector in SA 2019, in September 2019, the regional smartphone penetration was accounted for 81.72% which exhibits the continuous increase in comparison of September 2016 and 74.2% in September 2017. However, a lack of standardization in mems and sensor fusion systems impedes the growth of the market over the forecast period of 2022-2028. Also, the growing demand for wearable devices is anticipated to act as a catalyzing factor for the market demand during the forecast period.

The key regions considered for the Global Sensor Fusion Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific is the leading region across the world in terms of market share owing to the emergence of novel technologies, and growing demand for electronic devices such as modern smartphones, tablets, and stylish wearable devices. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the presence of prime automotive leading players in this geographical region, as well as the development of various autonomous vehicles and the radicle automobile landscape, would create lucrative growth prospects for the Sensor Fusion market across the Asia-Pacific region.

Major market players included in this report are:

Analog Devices Inc.

NXP Semiconductor

Renesas Electronics Corporation

Bosch Sensortec GmbH

InvenSense, Inc.

Infineon Technologies

STMicroelectronics

Asahi Kasei Microdevices

BASELABS GmBH

Maxim Integrated

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology

MEMS

NON-MEMS

By Product Type

Inertial Combo Sensors

Radar + Image Sensors

IMU+GPS

Temperature Sensors+ Pressure Sensors+ Humidity/ Light Sensors/ Gas Sensors

Others

By End Use Application

Consumer Electronics

Automotive

Home Automation

Medical

Military

Industrial

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019. 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Sensor Fusion Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors