LAMEA Sensor Fusion Market Size, Share & Industry Trends Analysis Report By Technology (MEMS and Non-MEMS), By Type, By End User, By Country, Historical Data and Growth Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa Sensor Fusion Market would witness market growth of 20.1% CAGR during the forecast period (2021-2027).
Sensor fusion is the technique used to reduce the level of uncertainty in a navigation motion of a robot or task completion. Cameras, radar, LiDAR, Time-of-Flight (ToF), microphones, and inertial measurement units (IMU) are examples of sensors. Complementary sensors, redundant sensors, and coordinated sensors are the three basic methods for combining sensor data.
Errors are reduced when multiple types of sensors are combined in this way. Advanced sensor fusion algorithms are used in sensor fusion devices. These algorithms are designed to bring real-time data and measurement outputs together into a single interpretation. Multiple sensor fusion arrays with various types of sensors with various chemical and biological coatings are used. Consumer electronics and automotive applications are two of the most common uses of sensor fusion.
In addition, the stringent government regulations for the manufacturing of automobiles would encourage manufacturers to use sensor fusion to guide drivers for better safety and security. To handle safety-critical circumstances, the automated vehicle design must be robust. Also, the high investment by the government on various military devices, vehicles, and equipment would fuel the demand for sensor fusion and hence, augment the growth of the regional market over the forecast period.
The Brazil market dominated the LAMEA Sensor Fusion Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $163.8 million by 2027. The Argentina market would experience a CAGR of 20.7% during (2021 - 2027). Additionally, The UAE market is anticipated to grow a CAGR of 19.7% during (2021 - 2027).
Based on Technology, the market is segmented into MEMS and Non-MEMS. Based on Type, the market is segmented into IMU, Radar Sensors, Image Sensors, Temperature Sensors, and Others. Based on End User, the market is segmented into Consumer Electronics, Healthcare, Military & Defense, Automotive, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Sensor Fusion Market is Predict to reach $10 Billion by 2027, at a CAGR of 17.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Analog Devices, Inc., Renesas Electronics Corporation, TDK Corporation (InvenSense, Inc.), STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Asahi Kasei Corporation, Robert Bosch GmbH, CEVA, Inc., and MEMSIC Semiconductor Co., Ltd. (IDG Capital Investment Consultant Beijing Co Ltd.).
Scope of the Study
Market Segments Covered in the Report:
- Non MEMS
- Radar Sensors
- Image Sensors
- Temperature Sensors
By End User
- Consumer Electronics
- Military & Defense
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Analog Devices, Inc.
- Renesas Electronics Corporation
- TDK Corporation (InvenSense, Inc.)
- STMicroelectronics N.V.
- Infineon Technologies AG
- NXP Semiconductors N.V.
- Asahi Kasei Corporation
- Robert Bosch GmbH
- CEVA, Inc.
- MEMSIC Semiconductor Co., Ltd. (IDG Capital Investment Consultant Beijing Co Ltd.)
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