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Report
Sensor Fusion: Global Market Outlook
Market Research Report I 2023-02-09 I 65 Pages I BCC Research
Description
Report Scope:
This report has segmented the market based on sensor type, technology type, industry and geography. The report provides an overview of the global Market for Sensor Fusion and analyzes market trends. Using 2021 as the base year, the report provides estimated market data for the forecast period from 2022 to 2027. Revenue forecasts for this period are segmented by sensor type, technology type, industry and geography. Market values have been estimated based on the total revenue of sensor fusion solution providers.
The report covers the market for sensor fusion regarding the user base across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for sensor fusion in 2021 and provides projections for the expected market size through 2027.
Report Includes:
- A comprehensive overview of the global market outlook for sensor fusion (SF) process
- Analyses of the global market trends, with historic market revenue for 2021 and 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the upcoming market potential for sensor fusion, industry growth drivers, and areas of focus to forecast this market into various segments and subsegments
- Estimation of the actual market size and revenue forecast for sensor fusion market in USD million values, and its corresponding market share analysis based on the technology, sensor type, end-user industry, and region
- Discussion of the current and future market potential for sensor fusion, along with a detailed analysis of the competitive environment, industry trends, opportunities and gaps estimating the demand, penetration of technologies within the industry
- Identification of the major stakeholders and analysis of the company competitive landscape based on their recent developments, financial performance, and segmental revenues
Executive Summary
Summary:
Sensors are currently employed in practically every industry, including consumer electronic devices, large-scale industrial facilities and automotive. A single sensor may produce useful data on its own, but consider the data that could be gathered by integrating the output from several sensors at once. If the whole is bigger than the sum of its component parts, this would provide users with a much better representation of the world around us. This feat can be achieved through a mechanism called "sensor fusion." This is the technique of combining data from various sensors to produce a more precise depiction of the desired object or scene.
The concept behind sensor fusion is that each individual sensor has both advantages and disadvantages; the objective is to benefit from each sensor's advantages and minimize any uncertainty to provide an accurate model of the environment being researched. The hardware and software industries both need to progress for sensor fusion to function well. Hardware-wise, sensor technology keeps improving in terms of technology advancements and miniaturization. Higher performance in sensor fusion models is naturally supported by more precise, widely accessible data. On the software side, digital signal processing offers important benefits by swiftly combining enormous amounts of data. Processing power also expands quickly, but data storage alternatives (e.g., the cloud) are essential to the development of sensor fusion approaches.
The use of sensor fusion is crucial in the industry of autonomous vehicles. By comprehending a vehicle's exact location, rate of movement and direction, fusion algorithms assist in shifting objects out of the way. Thus, sensor fusion maximizes the safety of autonomous vehicles. The most obvious use of sensor fusion may be in autonomous vehicles, but it has applications in any field in which it is necessary to combine data from numerous sources. Businesses are also taking into account its potential application in brand-new fields, including public safety, wearable technology, industrial automation and wastewater management.
The global market for sensor fusion was estimated to be worth $REDACTED in 2021. The market is projected to grow at a compound annual growth rate (CAGR) of REDACTED%, and it is forecast to reach $REDACTED by 2027. Increasing government initiatives to create more autonomous vehicles and companies focusing on investing in research and development are some of the major factors driving the sensor fusion demand. Growth in the adoption of connected technologies in consumer electronics industries is also fueling the growth for the sensor industry.
Based on sensor type, the market has been segmented into inertial combo sensors; light detecting and ranging (LiDAR ) + radar + image sensors; inertial measurement unit (IMU) + global positioning system (GPS); temperature and pressure sensor; and others. Based on the technology type, the Market for Sensor Fusion has been segmented into microelectromechanical systems (MEMS) and non-MEMS. Based on the industry, the market has been segmented into automotive, consumer electronics, healthcare, industrial and others.
Table of Contents
Chapter 1 Market Outlook
1.1 Market Snapshot
Chapter 2 Executive Summary
Chapter 3 Market Overview
3.1 Overview
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.2 Market Challenges
3.3 Impact of the COVID-19 Pandemic on the Market for Sensor Fusion Technologies
3.4 Patent Analysis
Chapter 4 Emerging Technologies and Opportunities
4.1 Commercialization of Autonomous Vehicles
4.2 Growing Demand for Wearable and Connected Devices
4.3 Growth of Virtual Smart Sensors
Chapter 5 Market Breakdown by Sensor Type, Technology Type and Industry
5.1 Market for Sensor Fusion by Sensor Type
5.1.1 Inertial Combo Sensors
5.1.2 LiDAR + Radar + Image Sensors
5.1.3 IMU + GPS
5.1.4 Temperature and Pressure Sensor
5.1.5 Others
5.2 Market for Sensor Fusion by Technology Type
5.2.1 MEMS
5.2.2 Non-MEMS
5.3 Market for Sensor Fusion by Industry
5.3.1 Automotive
5.3.2 Consumer Electronics
5.3.3 Healthcare
5.3.4 Industrial
5.3.5 Others
Chapter 6 Market Breakdown by Region
6.1 Global Market for Sensor Technologies by Region
6.2 Americas
6.3 Europe
6.4 Asia-Pacific
6.5 Middle East and Africa
Chapter 7 Competitive Landscape
7.1 Strategic Analysis
7.1.1 Recent Key Developments
Chapter 8 Company Profiles
ANALOG DEVICES INC.
BASELABS GMBH
BOSCH SENSORTEC GMBH
CEVA INC.
ELMOS SEMICONDUCTOR SE
INFINEON TECHNOLOGIES AG
NXP SEMICONDUCTORS N.V.
STMICROELECTRONICS N.V.
TDK CORP. (INVENSENSE)
TE CONNECTIVITY
Chapter 9 Project Scope and Methodology
9.1 Scope of Report
9.2 Methodology
9.3 Analyst's Credentials
9.4 BCC Custom Research
9.5 Related BCC Research Reports
List of Tables
Summary Table : Global Market for Sensor Fusion Technologies, by Region, Through 2027
Table 1 : Commonly Employed Sensors in Self-Driving Cars
Table 2 : Global Market for Sensor Fusion Technologies, by Sensor Type, Through 2027
Table 3 : Global Market for Sensor Fusion Technologies, by Technology Type, Through 2027
Table 4 : Global Market for Sensor Fusion Technologies, by Industry, Through 2027
Table 5 : Global Market for Sensor Fusion Technologies, by Region, Through 2027
Table 6 : Americas Market for Sensor Fusion Technologies, by Sensor Type, Through 2027
Table 7 : Americas Market for Sensor Fusion Technologies, by Technology Type, Through 2027
Table 8 : Americas Market for Sensor Fusion Technologies, by Industry, Through 2027
Table 9 : Americas Market for Sensor Fusion Technologies, by Country, Through 2027
Table 10 : European Market for Sensor Fusion Technologies, by Sensor Type, Through 2027
Table 11 : European Market for Sensor Fusion Technologies, by Technology Type, Through 2027
Table 12 : European Market for Sensor Fusion Technologies, by Industry, Through 2027
Table 13 : European Market for Sensor Fusion Technologies, by Country, Through 2027
Table 14 : APAC Market for Sensor Fusion Technologies, by Sensor Type, Through 2027
Table 15 : APAC Market for Sensor Fusion Technologies, by Technology Type, Through 2027
Table 16 : APAC Market for Sensor Fusion Technologies, by Industry, Through 2027
Table 17 : APAC Market for Sensor Fusion Technologies, by Country, Through 2027
Table 18 : MEA Market for Sensor Fusion Technologies, by Sensor Type, Through 2027
Table 19 : MEA Market for Sensor Fusion Technologies, by Technology Type, Through 2027
Table 20 : MEA Market for Sensor Fusion Technologies, by Industry, Through 2027
Table 21 : MEA Market for Sensor Fusion Technologies, by Country, Through 2027
Table 22 : Recent Key Developments, 2022
Table 23 : Analog Devices: Sensor Fusion Product and Technology Portfolio
Table 24 : BASELABS: Sensor Fusion Product and Technology Portfolio
Table 25 : Bosch Sensortec: Sensor Fusion Product and Technology Portfolio
Table 26 : CEVA: Sensor Fusion Product and Technology Portfolio
Table 27 : Elmos Semiconductor: Sensor Fusion Product and Technology Portfolio
Table 28 : Infineon Technologies: Sensor Fusion Product and Technology Portfolio
Table 29 : NXP Semiconductors: Sensor Fusion Product and Technology Portfolio
Table 30 : STMicroelectronics: Sensor Fusion Product and Technology Portfolio
Table 31 : TDK Corp.: Sensor Fusion Product and Technology Portfolio
Table 32 : TE Connectivity: Sensor Fusion Product and Technology Portfolio
List of Figures
Summary Figure : Global Market Shares of Sensor Fusion Technologies, by Region, 2021*
Figure 1 : Patents Filed on Sensor Fusion Technologies, by Year, 2018-2022
Figure 2 : Distribution of Patents on Sensor Fusion Technologies, by Country, 2022
Figure 3 : Global Market Shares of Sensor Fusion Technologies, by Sensor Type, 2021
Figure 4 : Global Market Shares of Sensor Fusion Technologies, by Sensor Type, 2027
Figure 5 : Global Market Shares of Sensor Fusion Technologies, by Technology Type, 2021
Figure 6 : Global Market Shares of Sensor Fusion Technologies, by Technology Type, 2027
Figure 7 : Global Market Shares of Sensor Fusion Technologies, by Industry, 2021
Figure 8 : Global Market Shares of Sensor Fusion Technologies, by Industry, 2027
Figure 9 : Global Market for Sensor Fusion Technologies, by Region
Figure 10 : Global Market Shares of Sensor Fusion Technologies, by Region, 2021
Figure 11 : Global Market Shares of Sensor Fusion Technologies, by Region, 2027
Figure 12 : Americas Market Shares of Sensor Fusion Technologies, by Sensor Type, 2021
Figure 13 : Americas Market Shares of Sensor Fusion Technologies, by Sensor Type, 2027
Figure 14 : Americas Market Shares of Sensor Fusion Technologies, by Technology Type, 2021
Figure 15 : Americas Market Shares of Sensor Fusion Technologies, by Technology Type, 2027
Figure 16 : Americas Market Shares of Sensor Fusion Technologies, by Industry, 2021
Figure 17 : Americas Market Shares of Sensor Fusion Technologies, by Industry, 2027
Figure 18 : Americas Market Shares of Sensor Fusion Technologies, by Country, 2021
Figure 19 : Americas Market Shares of Sensor Fusion Technologies, by Country, 2027
Figure 20 : European Market Shares of Sensor Fusion Technologies, by Sensor Type, 2021
Figure 21 : European Market Shares of Sensor Fusion Technologies, by Sensor Type, 2027
Figure 22 : European Market Shares of Sensor Fusion Technologies, by Technology Type, 2021
Figure 23 : European Market Shares of Sensor Fusion Technologies, by Technology Type, 2027
Figure 24 : European Market Shares of Sensor Fusion Technologies, by Industry, 2021
Figure 25 : European Market Shares of Sensor Fusion Technologies, by Industry, 2027
Figure 26 : European Market Shares of Sensor Fusion Technologies, by Country, 2021
Figure 27 : European Market Shares of Sensor Fusion Technologies, by Country, 2027
Figure 28 : APAC Market Shares of Sensor Fusion Technologies, by Sensor Type, 2021
Figure 29 : APAC Market Shares of Sensor Fusion Technologies, by Sensor Type, 2027
Figure 30 : APAC Market Shares of Sensor Fusion Technologies, by Technology Type, 2021
Figure 31 : APAC Market Shares of Sensor Fusion Technologies, by Technology Type, 2027
Figure 32 : APAC Market Shares of Sensor Fusion Technologies, by Industry, 2021
Figure 33 : APAC Market Shares of Sensor Fusion Technologies, by Industry, 2027
Figure 34 : APAC Market Shares of Sensor Fusion Technologies, by Country, 2021
Figure 35 : APAC Market Shares of Sensor Fusion Technologies, by Country, 2027
Figure 36 : MEA Market Shares of Sensor Fusion Technologies, by Sensor Type, 2021
Figure 37 : MEA Market Shares of Sensor Fusion Technologies, by Sensor Type, 2027
Figure 38 : MEA Market Shares of Sensor Fusion Technologies, by Technology Type, 2021
Figure 39 : MEA Market Shares of Sensor Fusion Technologies, by Technology Type, 2027
Figure 40 : MEA Market Shares of Sensor Fusion Technologies, by Industry, 2021
Figure 41 : MEA Market Shares of Sensor Fusion Technologies, by Industry, 2027
Figure 42 : MEA Market Shares of Sensor Fusion Technologies, by Country, 2021
Figure 43 : MEA Market Shares of Sensor Fusion Technologies, by Country, 2027
Figure 44 : Market Research Methodology
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