VANCOUVER, B.C., Sept. 30, 2020
- The growing use of sensor fusion technology in smartphone devices and rising demand for smart wearable devices are driving market growth
- Market Size – USD 4.06 billion in 2019, Market Growth - CAGR of 19.6%, Market Trends – The increasing need for high-end applications based on location detection
VANCOUVER, B.C., Sept. 30, 2020 /PRNewswire/ -- The Global Sensor Fusion Market is anticipated to reach USD 16.72 Billion by 2027, according to a new report by Emergen Research. The Sensor Fusion market is forecast to grow significantly due to the growing demand for smart wearable gadgets and high-end applications for location detection.
The rising use of sensor fusion in advanced automobiles like gasoline direct injections, vehicle stability, low emission engine, dynamic vehicle controls, rapid implementation of IoT technology, and expansion of self-driven or driverless cars is expected to fuel the market growth in the coming years.
Growing demand for various end-use applications, such as automotive, home automation, industrial and military, consumer electronics, and healthcare, among others, has significantly boosted the global market demand for sensor fusion.
Factors hindering the growth of the sensor fusion market are the rising complexity of sensor fusion algorithms requiring software overhead, additional processing capabilities, and technical standardization.
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Key Highlights From The Report
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Emergen Research has segmented the global sensor fusion market based on type, technology, application, axis, end-use industry, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Axis Outlook (Revenue, USD Billion; 2017-2027)
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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