Sensor Fusion market is expected to grow over the CAGR of around 19% during the period 2016 to 2022

Market Highlights:

Globally the market for sensor fusion is increasing rapidly. The major factor that drives the growth of the market includes increasing adoption of sensor fusion in consumer electronics such as smartphones, and wearable devices, rising home automation applications, and growing advanced driver assistance system market in automotive industry among others.

Globally the market for Sensor Fusion is expected to grow at the rate of around 19% from 2016 to 2022.

Major Key Players
• Cummins, Inc. (U.S.)
• MEMSIC, Inc. (U.S.)
• Analog device, Inc. (U.S.)
• Microchip technologies Inc. (U.S.)
• Baselabs (Germany)
• Senion (Sweden)
• NXP Semiconductor N.V. (Netherlands)
• Renesas electronics Corporation (Japan)
• Kionix, Inc. (Japan)
• Robert Bosch GmbH (Germany)

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Segments for Sensor Fusion Market:

Global Sensor Fusion Market can be segmented on the basis of types of sensors which comprises of accelerometer, capacitive sensors, pressure sensors, temperature sensors, touch sensors, radar sensors, and image sensors among others. On the basis of technology the market is segmented into MEMS and non-MEMS technology. Furthermore, based on applications the market is segmented into consumer electronics, automotive, medical, military, and robotics among others.

Regional Analysis of Sensor Fusion Market:
North America is dominating the Global Sensor Fusion Market with the largest market share in the region due to presence of automotive major players and growing technological advancement in the region and therefore is expected to have high market growth by 2022. Sensor Fusion Market in Asia-Pacific region is expected to grow at high rate between the forecast period 2016 and 2022 due to high demand of sensor fusion from consumer electronics sector arising from emerging countries in this region including India, China, Singapore, and Malaysia among others.

Market Research Analysis:
The growing advancement of sensor technology in smartphones and tablets is developing profitable environment of sensor designers and manufacturers. In the coming years, it is expected that the Sensor Fusion market will advance with higher growth rate as compared to previous years. Also, growing demand and high usage of technically upgraded robots by automotive industries is improving the market growth in upcoming years. The current challenges for the market are lack of security standards and changing mobility environment due to lack of robustness which is thereby hampering the market growth.

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This release was published on openPR.