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Sensor Fusion Market to Witness Rapid Surge During the Forecast 2022



The Sensor Fusion Market is expected to be worth USD 6.35 Billion by 2022, growing at a CAGR of 19.25% between 2016 and 2022. The major drivers for the growth are growing trend of integrating various sensors into the consumer electronics device such as smartphones, tablets, and wearable devices. The extensive use of fusion technology in consumer electronics devices for application such as navigation, optical image stabilisation, gesture recognition, orientation and position detection, activity tracking and others support the growth of sensor fusion market.
The sensor fusion ecosystem comprises chip  manufacturer such as Analog Devices, Inc. (U.S.) Atmel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), InvenSense, Inc. (U.S.), STMicroelectronics N.V. (Switzerland), and  Bosch Sensortec GmbH (Germany) among others; algorithm and software providers such as Hillcrest labs (U.S, Senion (Sweden), BASELABS (Germany) among others; and suppliers and distributors.

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The consumer electronics and automotive applications hold the major share of the sensor fusion market. The home automation application is expected to grow at the highest rate in the sensor fusion market during the forecast period, followed by the automotive application. Among the consumer electronic applications, the smart phone, tablet and notebook segment is the largest contributor to the overall sensor fusion market. The market for inertial combo sensors is expected to hold the largest share of the market for product segment. The inertial combo sensor are majorly used in application such as automotive, military and consumer electronics product including smart phone, wearables, gaming consoles among other.
Among the technology segment MEMS-based sensors dominate the sensor fusion market. This can be attributed to the extensive usage of integrated IMU (inertial measurement units) sensors based on MEMS technology in motion sensing devices for applications such as enhanced gesture recognition, gaming, indoor navigation, and localization-based services.
STMicroelectronics (Switzerland) is among the leaders in the sensor fusion market. The company strategically focuses on two major markets smart driving and Internet of Things for revenue. The company provides integrated motion sensors. In addition to this, the company also offers software modules for sensor fusion system. The company has primarily focused on new product development and new product launch strategy to expand its presence in the market. For instance, STMicroelectronics along with Mobileye (Israel) are co-developing Mobileye’s EyeQ 5 system-on-chip, to be used as a central computer performing sensor fusion for fully Autonomous Driving (FAD) vehicles from 2020.
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