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Global Sensor Fusion Market 2023 New Technology, Future Scope, Latest Trends And Forecast To 2032 | Major Players Are Qualcomm Technologies Inc., Broadcom Inc., Cummins Inc., NVIDIA Corporation, Asahi Kasei Microdevices Corporation
Sensor Fusion Market
The Business Research Company's Sensor Fusion Global Market Report 2023 identifies increase in the penetration of electric vehicles as the major driver for the Sensor Fusion Market's growth in the forecast period. An electric vehicle is a vehicle that can be driven by an electric motor that draws energy from a battery and is charged externally. Sensor fusion plays a critical role in enabling electric vehicles' functionality, safety, energy efficiency, and autonomous capabilities, making it an essential component of the evolving automotive industry.
The global sensor fusion market is expected to grow from $4.65 billion in 2022 to $5.55 billion in 2023 at a compound annual growth rate (CAGR) of 19.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sensor fusion market is expected to reach $10.92 billion in 2027 at a CAGR of 18.4%.
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Major competitors in the sensor fusion market are Qualcomm Technologies Inc., Broadcom Inc., Cummins Inc., NVIDIA Corporation, Asahi Kasei Microdevices Corporation, Texas Instrument Incorporated, Aptiv PLC, STMicroelectronics N.V, Infineon Technologies AG, NXP Semiconductor N.V, Amphenol Corporation, Analog Devices Inc., Renesas Electronics Corporation, Microchip Technology Inc., Trimble Inc., InvenSense Inc., MEMSIC Semiconductor Co. Ltd., CEVA Inc., First Sensor AG, Bosch Sensortec GmbH, LeddarTech Inc., Kionix Inc., Fullpower Technologies, QuickLogic Corporation, NIRA Dynamics, Kitware Inc., Innoviz Technologies, PNI Sensor Corporation, Hillcrest Laboratories Inc., and Baselabs GmbH.
A key trend in the Sensor Fusion Market includes technological advancement. Major companies operating in the sensor fusion market are using advanced technologies to sustain their position in the market. For instance, in November 2022, STMicroelectronics, a Switzerland-based semiconductor manufacturer, introduced the LSM6DSV16X, an advanced 6-axis inertial measurement unit (IMU) that integrates artificial intelligence (AI), adaptive self-configuration (ASC), and technology for more excellent power optimization using sensor fusion low power (SFLP). The IMU can host quick and potent edge processing with less energy consumption due to ST's Sensor Fusion Low Power (SFLP) technology, which is used with ASC. The LSM6DSV16X is perfect for advanced 3D phone mapping and context awareness on laptops and tablets because its innovative architecture enables sophisticated processing at the edge.
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The Sensor Fusion Market is segmented -
By Type: Radar Sensor, Image Sensor, Inertial Measurement Unit (IMU), Temperature Sensor, Other Types
By Technology: Micro-Electronic Mechanical Systems (MEMS), Non-Micro-Electronic Mechanical Systems (MEMS), Other Technologies
By Application: Smartphones, Tablets, TV Remote, Camera, Video Games, Other Applications
By End User: Consumers Electronics, Automotive, Home Automation, Medical, Military, Industrial
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Sensor Fusion Market.
The Business Research Company's "Global Sensor Fusion Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Sensor Fusion Market Include:
1. Executive Summary
2. Sensor Fusion Market Characteristics
3. Sensor Fusion Market Trends And Strategies
4. Sensor Fusion Market - Macro Economic Scenario
5. Global Sensor Fusion Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global Sensor Fusion Market Competitive Benchmarking
33. Global Sensor Fusion Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Sensor Fusion Market
35. Sensor Fusion Market Future Outlook and Potential Analysis
36. Appendix
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