Automotive Sensor Fusion Market Projected to Hit $6.7 Billion by 2031, Revolutionizing Vehicle Technology: Allied Market Research

According to a new report published by Allied Market Research, titled, "Automotive Sensor Fusion Market," The automotive sensor fusion market was valued at $1.1 billion in 2021, and is estimated to reach $6.7 billion by 2031, growing at a CAGR of 20.9% from 2022 to 2031.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A13883

The strong automotive sector in the North America region supports the demand for sensor fusion technology in vehicles. Numerous automotive companies in the region invest in the use of artificial intelligence in their sensor fusion products to help increase the safety and performance of vehicles, which is expected to drive the growth of the market. Autonomous vehicles reduce the number of accidents on the road and reduce the chances of accidents. Therefore, there is an increase in demand for autonomous vehicles owing to the luxury, quality, safety, and convenience of self-driving cars.

Moreover, technological improvements such as adaptive algorithms, sensor processing, high-definition mapping, and infrastructure improvements are leading various companies to ramp up the production of self-driving cars. Self-driving cars consist of a large number of sensors, such as LiDAR and RADAR systems, which work together to perform maneuvers automatically without the assistance of the driver. Therefore, an increase in the adoption of autonomous vehicles is expected to drive the growth of the market. Moreover, the rise in the development of research facilities to develop and launch solutions based on sensor fusion is expected to propel the growth of the market. For instance, in September 2021, VERSES Technologies Inc., a provider of contextual computing platforms dedicated to next-generation artificial intelligence solutions announced the opening of its sensor fusion lab and research facility in Culver City, California.

🔰 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/automotive-sensor-fusion-market/purchase-options

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲, the IMU segment held the highest share in 2021, accounting for more than one-third of the global automotive sensor fusion market, and is expected to continue its leadership status during the forecast period. However, the Image Sensors segment is expected to register the highest CAGR of 22.3% from 2022 to 2031.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, the Passenger Car segment accounted for the highest share in 2021, contributing to more than three-fourths of the global automotive sensor fusion market, and is expected to maintain its lead in terms of revenue during the forecast period. The same segment is expected to manifest the highest CAGR of 21.5% from 2022 to 2031.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐩𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐭𝐲𝐩𝐞, the ICE segment accounted for the highest share in 2021, holding four-fifths of the global automotive sensor fusion market, and is expected to continue its leadership status during the forecast period. However, the BEV segment is estimated to grow at the highest CAGR of 24.5% during the forecast period.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐫𝐞𝐠𝐢𝐨𝐧, North America held the largest share in 2021, contributing to more than one-third of the global automotive sensor fusion market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 22.2% during the forecast period.

🔰 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A13883

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐒𝐞𝐧𝐬𝐨𝐫 𝐅𝐮𝐬𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭:

Robert Bosch GmbH, (Germany)

TE Connectivity, (US)

Texas Instruments Inc., (US)

ZF Friedrichshafen AG, (Germany)

NXP Semiconductors, (Netherlands)

Infineon Technologies AG, (Germany)

NVIDIA Corporation, (US)

TDK Corporation, (Japan)

Aptiv, (Ireland)

Elmos Semiconductor SE, (Germany)

STMicroelectronics, (Switzerland)

Mobileye. (Israel)

The report provides a detailed analysis of these key players of the global automotive sensor fusion market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/automotive-wheel-speed-sensor-market - Global Opportunity Analysis and Industry Forecast, 2018 - 2025

https://www.alliedmarketresearch.com/vehicle-radar-test-system-market-A10764 - Global Opportunity Analysis and Industry Forecast, 2023-2035

https://www.alliedmarketresearch.com/automotive-knock-sensor-market-A10069 - Global Opportunity Analysis and Industry Forecast, 2023-2035

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.