According to the new market research report of MarketsandMarkets, 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 market for the home automation segment is expected to grow at the highest rate between 2016 and 2022.
The sensor fusion market has a huge potential across consumer electronics and automotive applications. The major factor driving the sensor fusion market across the world is the increasing demand for consumer electronic devices such as smartphones, wearable devices, gaming consoles, and smart TVs. The growth of the sensor fusion is also driven by growing trend of miniaturization in electronics.
The market for the home automation segment is expected to grow at the highest rate between 2016 and 2022. The sensor fusion technology is used for controlling and monitoring purposes in home automation application using different sensor data such as light control, in-house environment control, automatic appliance control, and security purpose. The considerable growing demand for home automation devices around the world is expected to boost the Sensor Fusion Market.
The market for the non-MEMS technology-based sensors would grow at the highest CAGR between 2016 and 2022. The market for the non-MEMS technology-based sensors is expected to grow at the highest rate. This high growth can be attributed to the growing need for the non- MEMS technology-based sensors such as radar and image in automobiles safety system such as ADAS.
The APAC region held the largest share of the sensor fusion market in 2015. One of the main reasons for the large share of APAC in this market is the growing demand for consumer electronic devices such as smartphones, tablets, and wearable devices in the region. China is the major market for sensor fusion in the APAC region owing to the increasing demand for consumer electronics products such as smart phones, tablets, wearables and gaming consoles in the country. China is the world’s largest automotive manufacturer, which is one of the prospective applications of sensor fusion for active safety in automobiles.