According to the new market
research report "Sensor Fusion Market by Technology (MEMS, Non-MEMS), Products (Inertial Combo Sensors,
Radar+Image Sensors, IMU+GPS, Temperature Sensors+ Presure Sensors+ Humidity/
Light/ Gas Sensors), Application, and Geography - Global Forecast to 2022",
the sensor fusion market is expected to be worth USD 6.35 Billion by 2022,
growing at a CAGR of 19.25% between 2016 and 2022. The sensor fusion market has
a huge potential across consumer electronics and automotive applications. The
major factor driving the sensor fusion market across the world is the
increasing demand for consumer electronic devices such as smartphones, wearable
devices, gaming consoles, and smart TVs. The growth of the sensor fusion is
also driven by growing trend of miniaturization in electronics.
The market for the home automation segment is expected to grow at the
highest rate between 2016 and 2022
The market for home automation
segment is expected to grow at the highest CAGR between 2016 and 2022. The
sensor fusion technology is used for controlling and monitoring purposes in
home automation application using different sensor data such as light control,
in-house environment control, automatic appliance control, and security
purpose. The considerable growing demand
for home automation devices around the world is expected to boost the sensor
fusion market.
The market for the non-MEMS technology-based sensors would grow at the
highest CAGR between 2016 and 2022
The market for the non-MEMS
technology-based sensors is expected to grow at the highest rate. This high
growth can be attributed to the growing need for the non- MEMS technology-based
sensors such as radar and image in automobiles safety system such as ADAS.
APAC to hold the largest size of the sensor fusion market
The APAC region held the largest
share of the sensor fusion market in 2015. One of the main reasons for the
large share of APAC in this market is the growing demand for consumer
electronic devices such as smartphones, tablets, and wearable devices in the
region. China is the major market for sensor fusion in the APAC region owing to
the increasing demand for consumer electronics products such as smart phones,
tablets, wearables and gaming consoles in the country. China is the world’s
largest automotive manufacturer, which is one of the prospective applications
of sensor fusion for active safety in automobiles.
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The companies that are profiled in
the report are STMicroelectronics (Switzerland), NXP Semiconductors N.V.
(Netherlands), Renesas Electronics Corporation (Japan), InvenSense, Inc.
(U.S.), Bosch Sensortec GmbH (Germany), Hillcrest labs (U.S.), Kionix Inc.
(U.S.), Senion (Sweden), BASELABS (Germany), and Asahi Kasei Microdevices
(Japan).
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