Sensor Fusion Market for Automotive Estimated to reach $22.2 billion by 2030

The report “Sensor Fusion Market for Automotive by Technology (Camera, LIDAR & RADAR), Data Fusion Type & Level (Homogeneous, Heterogeneous, Data, Decision, Feature), Software Layer, Vehicle Type (ICE, Autonomous & Electric) and Region-Global Forecast to 2030″, is projected to reach USD 22.2 billion by 2030 from an estimated USD 2.9 billion in 2021, at a CAGR of 25.4% during the forecast period.

The growth of the sensor fusion market for automotive is influenced by a major factor such as the stringency in safety standards in countries such as China, India, Brazil, European Union, US, Canada, etc. In addition, the anticipated increase in demand for premium and luxury cars is expected to boost the demand for sensor fusion technology. Also, the growing adoption of advanced ADAS features in automobiles due to enhanced safety and comfort is expected to drive adoption of sensors such as cameras, radars and LiDARs. Therefore, the sensor fusion market for automotive is expected to witness significant growth in the coming years.

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LiDAR is expected to be the fastest market during the forecast period

LiDAR offers precise and accurate 3D measurement data from short to long ranges in challenging weather and lighting conditions. This technology can be combined with any other sensory data to provide a reliable representation of both, still as well as moving objects in the vehicle’s environment. Thus, LiDAR technology has become a suitable accessible solution to avoid collisions and enable obstacle detection and safe navigation in various environments in different vehicle types. LiDAR is used in critical automotive and mobility applications such as ADAS and autonomous driving. Europe and North America are likely to witness early adoption of LiDAR in their vehicle models. It is expected to be used in passenger cars post 2023 and in heavy commercial vehicles post 2024.

Increased production and developments are expected to drive the adoption of LiDAR in automobiles. For instance, according to AUTOCAR PROFESSIONAL (Indias premier B2B automotive magazine), in July 2021, US-based Lidar solutions provider Cepton Technologies Inc secured an ADAS LiDAR Series Production Award at a leading, Detroit-based global automotive OEM. This marked the industry-first mass-market adoption of LiDAR for automotive ADAS.

Heavy Commercial Vehicle is expected to be the largest growing market

Currently, heavy commercial vehicles witness no penetration of sensor fusion. They do, however, require more cameras and radar for sensor fusion mainly because of the vehicle height, longer range, and distance. Trucks are expected to adopt sensor fusion before buses due to increasing requests by fleet managers to migrate to advanced safety technology. According to Aptiv, the European Union has mandated automotive manufacturers to fit ADAS, such as lane departure warning systems (LDWS) and autonomous emergency braking systems (AEB) in all heavy commercial vehicles weighing more than 7,000 kilograms. According to MarketsandMarkets analysis, penetration of ADAS features in trucks and buses in countries such as Germany and the US is around ~16% and 8%, respectively.

Key Market Players:

The sensor fusion market for automotive is dominated by globally established players such as Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Continental AG (Germany), NXP Semiconductors N.V. (Netherlands), Infineon Technologies (Germany), and Denso Corporation (Japan), Aptiv (Ireland), ST Microelectronics (Japan).

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