Sensor Fusion Market - Trends Forecast Till 2028

Market Overview

The global Sensor Fusion market size is projected to reach USD 22 billion by 2026 at a CAGR of 24.7% from USD 3 billion in 2021 during the forecast period 2021-2028.

Sensor fusion is an AI based technology which has an ability to incorporate the data received from various radars, cameras and lidars into a single source of information which can be a picture or model which tells about the environment around the vehicle. The image or model so obtained is balanced as it is based on the strength of different sensors.

Due to the technical advancements offered by the sensor fusion along with the lack of standardization in software are some of the factors that have supported long-term expansion for Sensor Fusion Market.

The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. The automotive market also saw a declining phase during the pandemic. Since the sensor fusion market is dependent over the automotive industry thus was affected in a negative way.

Regional Analysis

Asia Pacific is expected to be the largest market during the forecast period. The increasing production of vehicles, surge in demand for luxury cars and the advancements of sensor fusion hardware are a reason for the expansion of market in the region.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Robert Bosch GmbH
• ZF Friedrichshafen AG
• Continental AG
• NXP Semiconductors N.V.
• Infineon Technologies
• Denso Corporation
• Aptiv
• ST Microelectronics,
• Allergo Microsystems
• Elmos Semiconductor SE

Recent Developments

• In July 2021, Bosch joined hands with Microsoft in order to develop a software platform which connect cars to the cloud seamlessly. The new platform is based on Microsoft Azure and uses software modules from Bosch.
• In April 2021, Continental AG launched a new radar sensor which offered 360-degree coverage with a longer range.

Reasons to Acquire

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• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope