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Sensor Fusion Market to amass remarkable gains over 2018-2024, APAC to majorly drive the regional growth

Author : Ronak Bora | Published Date : 2019-05-22 

Global Market Insights presents the Sensor Fusion Market provides a detailed overview of major drivers, restraints, challenges, opportunities, current industry trends and strategies impacting the global market along with estimates and forecast of revenue.

Asia Pacific contributed significantly to revenue in 2015 owing rising demand of consumer electronic devices in the region. China sensor fusion market share is characterized by high demand across consumer electronic products and the automotive industry. Other major regional market segments are Japan, U.S., Canada, India and South Korea. Developments in autonomous or driverless vehicles and the changing automobile landscape has led to need for growing number of detectors to ensure availability of comprehensive reliable information regarding the surroundings.

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The technology intelligently combines data from multiple detectors to calculate accurate orientation and position. Micro-electromechanical system (MEMS) sensors have enabled various applications such as personal navigation, step counting, gaming, gesture recognition and screen rotation in mobile devices. The continuous growth and penetration of smartphones on a global scale is forecast to drive the sensor fusion market.

Falling MEMS sensor market price trend has driven adoption in various devices, which has led to growing sensor data and more powerful controllers and algorithms. Companies have focused on product differentiation to avoid commoditization. Wearable technology has emerged as a high growth sector for major industry participants.

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Advanced driver assistance systems (ADAS) is likely to remain a major application segment, and includes steering, warning, braking and monitoring of automobiles. The demand will be largely fueled by consumer and regulatory interests for safety applications. Europe and U.S. sensor fusion market share will be driven by initiatives for equipping vehicles with forward collision warning and emergency-braking systems. The demand is hampered by the lack of standardization of technologies and increasing complexity of software. Technological challenges include lack of security and interoperability standards. Fusion detectors used in mobile equipment are vulnerable to moderate changes in environmental conditions due to lack of robustness, posing a major risk for users.

By technology, the Sensor fusion market can be segmented into MEMS and non-MEMS. Non-MEMS technology based solutions are expected to witness the highest growth rate through the forecast timeframe due to increasing demand for image and radar based products in automotive safety systems.

Sensor fusion market size will benefit from growth in the home automation segment due to increased demand for monitoring and controlling different utilities such as light, automated appliance, environment and security purposes. Major application areas are automotive, consumer electronics, medical, military and industrial. Growing robotics developments will prove favorable for the industry, since the technology helps in mobile robot navigation

Global sensor fusion market share is expected to be moderately consolidated by key participants comprising Analog Devices, NXP Semiconductors N.V., Invensense, Atmel Corp., STMicroelectronics, Bosch Sensortec GmbH, Kionix, Renesas Electronics, and Baselabs GmbH. Mergers, acquisitions and co-development of products are key strategies adopted to gain profitability. For instance, Mobileye and STMicroelectronics have strategized to co-develop EyeQ 5 system on chip to be used from 2020, to function as central computer control performing sensor fusion for fully autonomous driving (FAD) vehicles. Companies focusing on technologies associated with IoT and smart driving are forecast to have better growth prospects.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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