Sensor Fusion Market Rising Trends, Growth Opportunities and Global Outlook 2021-2026

The Sensor Fusion Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Sensor Fusion market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Sensor Fusion market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Sensor Fusion market.

The Sensor Fusion Market was valued at USD 4.72 billion in 2020 and is expected to reach a value of USD 13.62 billion by 2026 at a CAGR of 19.2% during the forecast period (2021 - 2026). 

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Top Leading Companies of Sensor Fusion Market are - Robert Bosch GmbH, Continental AG, Infineon Technologies AG, BASELABS GmbH, NXP Semiconductor, BASELABS GmbH, STMicroelectronics NV, Memsic Inc, Kionix Inc (Rohm Semiconductor), TDK Corporation, CEVA Inc and others.

Industry News and Updates:

- April 2020 - US-based startup Phantom AI raised USD 22 million in Series A financing led by Celeres Investments and joined by Ford Motor and South Korean telecom giant KT Corporation. Phantom AI's PhantomFusion product is independent sensor fusion and object tracking system that fuses all of the raw data collected from various vehicle sensors. It can also fuse data from up to six cameras and six radars, 360 degrees around a vehicle.

- March 2020 - US-based CEVA Inc launched SensPro, a high-performance sensor hub DSP architecture designed to handle the broad range of sensor processing and sensor fusion workloads for devices. It consists of an advanced set of software and development tools to expedite system designing LLVM C/C++ compiler, Eclipse-based integrated development environment (IDE), OpenVX API, software libraries for OpenCL, CEVA deep neural network (CDNN) graph compiler including the CDNN-Invite API for the inclusion of custom AI engines, CEVA-CV imaging functions, CEVA-SLAM software development kit and vision libraries, ClearVox noise reduction, WhisPro speech recognition, MotionEngine sensor fusion, and the SenslinQ software framework.

Key Market Trends:

Growing Technological Trends in Automotive Sector to Boost the Market Growth

- The growing development in ADAS and increasing utilization of the principle of GPS-IMU (Inertial Measurement Unit) fusion is helping in solving accumulated errors of dead reckoning in intervals with absolute position readings. Tesla's Autopilot automated driving feature is an example of an ADAS, that can perform functions such as keeping the vehicle center in a highway lane by determining the vehicle's precise position from data collected from a forward-facing camera and controlling the steering.

Asia Pacific Region is Expected to Witness Significant Growth Rate

- The Asia Pacific is one of the major regions for sensor fusion in autonomous applications, owing to the growing adoption of autonomous vehicles, stringent government regulation, and increasing dominance in the global semiconductor industry.?
- Also, the region's massive investment in 5G, along with promoting C-V2X, is further expanding the scope of automotive applications such as autonomous driving, Vehicle-to-Everything (V2X), and MaaS market. Chipmakers like Qualcomm is also working with over 30 Chinese automotive companies, including the China-based joint ventures, to demonstrate the commercial viability of C-V2X technology for autonomous and connected vehicles.

Investigator Observers Strong Growth in Specific Regions:

– Europe Market (Germany, UK, France, Russia, Italy)

– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

– South America Market (Brazil, Argentina, Colombia)

– North America Market (United States, Canada, Mexico)

– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- Sensor Fusion Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Sensor Fusion Market (%),2016 - 2026
- Sensor Fusion Market Share, By Brand
- Sensor Fusion Market Share, By Company
- Sensor Fusion Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Sensor Fusion Market Value Analysis & Forecast
- Promising Sensor Fusion Development by Major Companies
- Detailed Sensor Fusion Portfolio of the Major Companies
- Major Deals in the Sensor Fusion Market
- Major Companies Analysis

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