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 major drivers for the growth are growing trend of integrating various
sensors into the consumer electronics device such as smartphones, tablets, and
wearable devices. The extensive use of fusion technology in consumer
electronics devices for application such as navigation, optical image
stabilisation, gesture recognition, orientation and position detection,
activity tracking and others support the growth of market.
The
consumer electronics and automotive applications hold the major share of the
sensor fusion market. The home automation application is expected to grow at
the highest rate in the market during the forecast period, followed by the
automotive application. Among the consumer electronic applications, the smart
phone, tablet and notebook segment is the largest contributor to the overall
market. The market for inertial combo sensors is expected to hold the largest
share of the market for product segment. The inertial combo sensor are majorly
used in application such as automotive, military and consumer electronics
product including smart phone, wearables, gaming consoles among other.
Among
the technology segment MEMS-based sensors dominate the sensor fusion market.
This can be attributed to the extensive usage of integrated IMU (inertial
measurement units) sensors based on MEMS technology in motion sensing devices
for applications such as enhanced gesture recognition, gaming, indoor
navigation, and localization-based services.
The
APAC region held the largest market share and is expected to grow at the
highest rate. In APAC, the huge demand for consumer electronics and automobiles
from countries such as China, India, Japan, South Korea, and among others is
driving the market.
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One
of the key restraining factors for this market is the lack of standardization
and harmonization process of the MEMS sensor and associated software is
hampering the growth of the market. The companies that are profiled in the
report are STMicroelectronics (Switzerland), NXP Semiconductors N.V.
(Netherlands), Renesas Electronics Corporation (Japan), InvenSense, Inc.
(U.S.), MEMSIC, Inc. (U.S.). , Bosch Sensortec GmbH (Germany), Hillcrest labs
(U.S.), Kionix Inc. (U.S.), Senion (Sweden), BASELABS (Germany), Analog Devices
Inc. (U.S.), and Asahi Kasei Microdevices (Japan).
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