Asia Pacific Automotive Sensor Fusion Market Size, Share & Industry Trends Analysis Report By Propulsion Type (ICE, BEV, and HEV), By Vehicle Type, By Technology (IMU, Image Sensors, Radar Sensors, and Others), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Automotive Sensor Fusion Market would witness market growth of 23.3% CAGR during the forecast period (2022-2028).
One of the most important technologies for improving the precision and speed of the detection process in all weather conditions is sensor fusion. The perception algorithm's accuracy can be improved when one of the sensors is less effective than when we combine several sensors. In many nations, the semi-autonomous car is well developed.
One of the technologies that makes self-driving cars possible is sensor fusion. Active vehicle safety systems, both present and future, heavily rely on the fusion of sensor data. Without the application of more advanced signal processing techniques, such as data fusion approaches, the development of more advanced sensors is not complete.
Standalone sensors are unable to overcome several physical restrictions, such as those related to range and field of vision. Therefore, combining data from many sensors expands the region around the vehicle that is monitored by the sensors and improves the system's overall reliability in the event of sensor failure.
The PLI Scheme for the Auto Sector aims to remove the cost barriers that the industry faces when producing items utilizing Advanced Automotive Technology in India. The incentive system will encourage businesses to make new investments in the domestic supply chain for items utilizing advanced automotive technology. The PLI Scheme for the Automobile and Auto Components Industry is anticipated to generate new investments and increase employment possibilities over the course of five years. Existing automotive companies, as well as new non-automotive investor companies, are welcome to participate in the PLI Scheme for the auto sector. The Champion OEM Incentive Scheme and Component Champion Incentive Scheme are the two halves of the scheme. All these initiatives of governments of regional nations are predicted to support the growth of the regional automotive sensor fusion market.
The China market dominated the Asia Pacific Automotive Sensor Fusion Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $787.1 Million by 2028. The Japan market is estimated to grow a CAGR of 22.5% during (2022 - 2028). Additionally, The India market would experience a CAGR of 24% during (2022 - 2028).
Based on Propulsion Type, the market is segmented into ICE, BEV, and HEV. Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Technology, the market is segmented into IMU, Image Sensors, Radar Sensors, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Automotive Sensor Fusion Market is Projected to reach USD 7.3 Billion by 2028, at a CAGR of 22.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NVIDIA Corporation, NXP Semiconductors N.V., Robert Bosch GmbH, TE Connectivity Ltd., Infineon Technologies AG, ZF Friedrichshafen AG, TDK Corporation, STMicroelectronics N.V., Aptiv PLC, and Texas Instruments, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Propulsion Type
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Image Sensors
- Radar Sensors
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- NVIDIA Corporation
- NXP Semiconductors N.V.
- Robert Bosch GmbH
- TE Connectivity Ltd.
- Infineon Technologies AG
- ZF Friedrichshafen AG
- TDK Corporation
- STMicroelectronics N.V.
- Aptiv PLC
- Texas Instruments, Inc.
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Global Automotive Sensor Fusion Market Report 2022-2028
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Europe Automotive Sensor Fusion Market Report 2022-2028