Automotive Sensor Fusion Market By Technology (Radar Sensors, Image Sensors, IMU, Others), By Vehicle Type (Passenger car, Light Commercial vehicle, Heavy Commercial vehicle), By Propulsion Type (ICE, BEV, HEV): Global Opportunity Analysis and Industry Forecast, 2021-2031
Sensor fusion is the process of combining data from multiple sensors to reduce the uncertainty associated with task execution. It is a technology that combines sensor data obtained from various sources to produce less uncertain information than using those sources individually. These sensors include cameras, radar, LiDAR, time-of-flight (ToF), microphones, inertial measurement unit (IMU) sensors, and collaborative sensors. The implementation of stringent government regulations to include safety features in vehicles is expected to further impact the automotive sensor fusion market.
In addition, the growing trend of autonomous vehicles, integration of advanced technologies, and rise in demand for environmentally friendly vehicles are anticipated to drive the growth of the automotive sensor fusion market. Self-driving cars use a combination of forward-facing cameras and radar systems to collect and further process relevant information about road conditions. Sensor fusion is a building block in the development of semi-autonomous and fully autonomous vehicles designed to maintain lane position and adapt to traffic environments. Therefore, the rise in the development of sophisticated sensor fusion technologies to enable efficient semi-automated and fully automated driving is expected to drive the growth of the market.
An image sensor is an electronic device that converts an optical image into an electrical signal. It is used in digital cameras and imaging devices to convert the light received by the lens of the camera or imaging device into a digital image. Image sensors are used for sensing and providing information in the form of an image. These sensors convert light waves and sound waves into signals, which are then used for providing a pictorial representation of the environment in the form of an image. Image sensors are mainly used for the applications such as park assist, lane departure warning, collision avoidance system, and blind spot detection.
Image sensors for automotive applications are important feature for vehicle safety. These sensors have witnessed impressive growth in advanced driver assistance systems. Image sensors are used in various applications such as park assist, lane departure warning, and collision avoidance systems for projecting the outside picture to the driver. The development of NCAP car ratings in developed nations, such as Japan, U.S., and European countries has led to the remarkable commercial opportunity for image sensors. Surge in development of image sensors to enhance driver monitoring system in autonomous vehicles is expected to drive the growth of the segment in the market. For instance, in May 2022, STMicroelectronics introduced advanced global shutter image sensor for affordable and reliable driver monitoring safety systems. Sensor fusion combines input from image sensors and other sensors to create a more complete, accurate, and reliable picture of the environment, especially in dynamic setting. Therefore, increase in adoption of image sensors in vehicles is expected to boost the growth of the segment in the market.
The automotive sensor fusion market is segmented on the basis of technology, vehicle type, propulsion type, and region. By technology, it is fragmented into radar sensors, image sensors, IMU, and others. On the basis of vehicle type, it is classified into passenger car and commercial vehicle. By propulsion type, it is categorized into ICE, BEV, and HEV. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some major companies operating in the market include Aptiv, Elmos Semiconductor SE, Infineon Technologies AG, Mobileye, NVIDIA Corporation, NXP Semiconductors, Robert Bosch GmbH, STMicroelectronics, TDK Corporation, TE Connectivity, Texas Instruments, and ZF Friedrichshafen AG.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive sensor fusion market analysis from 2021 to 2031 to identify the prevailing automotive sensor fusion market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the automotive sensor fusion market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global automotive sensor fusion market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
Radar Sensors
Image Sensors
IMU
Others
By Vehicle Type
Passenger car
Light Commercial vehicle
Heavy Commercial vehicle
By Propulsion Type
ICE
BEV
HEV
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Robert Bosch GmbH
TE Connectivity
Texas Instruments Inc.
ZF Friedrichshafen AG
NXP Semiconductors
Infineon Technologies AG
NVIDIA Corporation
TDK Corporation
Aptiv
Elmos Semiconductor SE
STMicroelectronics
Mobileye
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