The North America Sensor Fusion Market would witness market growth of 17.6% CAGR during the forecast period (2021-2027).
Sensor fusion is becoming more popular in a variety of industries, including automotive, healthcare, consumer electronics, military & defence, and others. As the need for these industries grows, the sensor fusion market share is predicted to grow significantly in the coming years. Smartphones, tablets, automobiles, medical devices, and other industrial equipment are among the key users of sensor fusion.
Smartphones are embedded with a wide variety of sensors, including Inertial Measuring Unit (IMU) sensors, temperature sensors, light sensors, and more. Sensors of this type are used to determine a variety of actions, including positioning, tracking, and recognition. Wearable gadgets in healthcare involve sensor fusion in the form of accelerometers and gyroscopes. Along with that, wearable sensor systems that may be employed in a range of medical situations are becoming possible due to advancements in the size and power consumption of MEMS sensor devices and microcontrollers.
For instance, Pony.ai, is testing a sensor fusion-enabled robotaxi in the United States. GeoCue Group, situated in the United States, introduced the drone market to their new hardware as a service (HaaS) Evergreen Subscription for their True View UAV LiDAR/Imagery Fusion Sensors in 2019. It is the industry's first integrated LIDAR/camera fusion platform, according to the company, built from the bottom up to generate high-accuracy 3D colourized LIDAR point clouds.
The US market dominated the North America Sensor Fusion Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,057.4 million by 2027. The Canada market is expected to witness a CAGR of 20.2% during (2021 - 2027). Additionally, The Mexico market would showcase a CAGR of 19.2% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Sensor Fusion Market is Estimated 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.).
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