Sensor Fusion Market Booming the Industries by Ravisisng keyplayers | AKM Semiconductor, Inc., Analog Devices, Inc., Bosch Sensortec Gmbh, Renesas Electronics Corporation., NXP Semiconductors, Inc., BASELABS

Sensor fusion is a software that combines the data from different sensors and helps in maintaining the resulting information with less uncertainty. Increasing adoption of smart devices by the consumers, in order to bring changes in lifestyle is one of the major factors for the increasing demand for sensors in devices, thereby increasing the demand for sensor fusion in wearable devices. Hence, this is expected to propel growth of the market over the forecasted period.

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Increasing demand for sensor-based applications in smart phones is one of the major factors driving growth of the market

The increasing demand for sensor-based applications in smart phones is one of the major factors driving growth of the market. This is attributed to the rising competition among the smartphone manufactures such as Apple Inc., Samsung Electronics Co., Ltd., and Huawei Technologies Co., who are investing in research and development, in order to develop sensor-based applications that will differentiate their products from the others. This factor is expected to drive growth of the market over the forecast period.

Increasing complexity of the sensor fusion system and software is one of the major factors that hamper growth of the market

The rising complexity in the algorithm of sensor fusion system and software, which will, in turn increase the software overhead expenses and additional processing capabilities is one of the major factors that is expected to hamper growth of the market over the forecast period.

Non-MEMS segment is projected to exhibit highest CAGR over the forecast period.

On the basis of technology, non- MEMS segment is expected to exhibit highest CAGR during the forecast period, owing to the rising demand for image and radar based products to improve the safety system in the vehicles, as the level of complexity is very high while integrating it to automotive applications such as lights and engine when compared to the other sensors.
Global Sensor Fusion Market: Regional Insights

North America accounted for the largest share in the global sensor fusion market in 2016 and this region is expected to dominate the global market by 2028. The increasing adoption of sensors in various fields such as medical, consumer electronics, and automotive is one of the major factors driving growth of the market in this region. For instance, according to the International Energy Agency (IEA) analysis, the total sales of electric vehicles in the U.S. in 2015 was US$ 130 billion, which increased up to US$ 150 billion in 2016. The rising demand for electric vehicles is increasing the demand for sensors in the automotive sector.

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Global Sensor Fusion Market: Competitive Landscape

The key players operating in the global sensor fusion market include AKM Semiconductor, Inc., Analog Devices, Inc., Bosch Sensortec Gmbh, Renesas Electronics Corporation., NXP Semiconductors, Inc., BASELABS, STMicroelectronics, Kionix, Inc. Qualcomm Technologies, Inc., Quick Logic Corporation, PNI Corp., and Hillcrest Company LLC. Major players such as AKM Semiconductor, Hillcrest Company LLC, and Analog Devices, Inc. are adopting strategies such as mergers and acquisitions to strengthen their foothold in the market.

Global Sensor Fusion Market: Taxonomy

On the basis of technology, the global sensor fusion market is segmented into:

• MEMS
• Non-MEMS

On the basis of application, the global sensor fusion market is segmented into:
• Smart Phones
• Tablet
• Camera
• TV Remote
• Video Games
• Others

On the basis of end-use, the global sensor fusion market is segmented into:

• Retail
• Automotive
• Consumer Electronics
• Others

On the basis of region, the global sensor fusion market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa

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