The global sensor fusion market for automotive is projected to grow from USD 0.3 billion in 2023 to USD 3.3 billion by 2030, registering a CAGR of 42.4%. The market has witnessed unprecedented growth in recent years, signaling a remarkable shift towards safer and more sustainable transportation solutions worldwide. Regulatory mandates for safety features, autonomous driving development, and consumer expectations for enhanced safety and comfort has been a driving force behind the growth of sensor fusion market for automotive. Market is further driven by rising demand for advanced ADAS features in vehicles such as adaptive cruise control, lane departure warning, and automatic emergency braking.
The automotive industry is integrating advanced technologies such as Deep learning, Artificial Intelligence, Edge computing, Blockchain technology, and the use of Kalman filter for sensor fusion to enhance vehicle safety, comfort, and autonomy. Deep learning-based sensor fusion in automotive vehicles is an approach that has changed how autonomous and semi-autonomous cars perceive and make decisions about their surroundings. This technology integrates data from various sensors, enabled by deep learning algorithms. Similarly, AI enhances adaptability, decision making, and reliability, making vehicles more capable of navigating complex and dynamic road conditions. Machine learning techniques, such as deep neural networks, continuously improve AI models for sensor fusion, reducing false positives and negatives and providing scalability for various vehicle types and ADAS levels. Further, Edge computing offers a decentralized and data-driven approach to sensor fusion. By processing data at the edge, within the vehicle's onboard systems, delays in data transmission to centralized servers or cloud-based solutions are minimized. Blockchain technology is also proving to be a game-changer in the automotive sector. Its ability to create immutable, tamper-proof records ensures data authenticity and security. Beyond security, blockchain enables controlled data sharing and collaboration, enhancing road safety and traffic management.
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Mobileye Global Inc. is a chip and software provider that enables Advanced Driver Assist Systems (ADAS) with more than 25 automaker partners. It also supports sensing, mapping, and driving policy. Its vision safety technology for ADAS has been deployed on over 40 million vehicles. Intel Corporation (US) acquired the company in 2017. Mobileye Global Inc. has developed a range of software products deployed on a proprietary family of computer chips named EyeQ. It operates in US, Israel, Germany, France, Spain, and UK. In January 2023, the company partnered with Wistron NeWeb Corp, a Taiwan-based electronics and radar supplier catering to global automakers. Under this partnership, both companies will produce automotive-grade imaging radars two years from now. In November 2022, the company signed a memorandum of understanding (MoU) with Goggo Network (Germany) to deploy up to 40 autonomous vehicles with SAE Level 4 features leveraging Mobileye’s Drive technology. In September 2022, it started testing all-electric NIO ES8 sport-utility vehicles in US by integrating them with Mobileye Drive, a Level 4 self-driving solution. Following the European Union (EU) General Safety Regulations of 2022, which mandate the integration of intelligent speed assist (ISA) on all new vehicles after July 2022, Mobileye Global Inc. modified all its offerings, including a camera-only solution and additional redundancy through Road Experience Management HD maps.
NVIDIA Corporation is a tech company engaged in designing system-on-a-chip units (SoCs) for the automotive industry. Its products are used in various applications, including artificial intelligence (AI), self-driving cars, high-performance computing, gaming, and professional visualization. The Drive PX platform is the first in-vehicle AI platform in the world designed specifically for self-driving cars. Its advanced computer vision system runs on deep learning, allowing the car to sense its surroundings and make real-time decisions. The platform offers a comprehensive suite of tools and technologies to automakers and Tier 1 suppliers, including sensor fusion, object recognition, and path planning. The company also provides many other software and platforms for autonomous driving, such as DriveWorks SDK, DRIVE Chauffeur, DRIVE IX, DRIVE Concierge, and DRIVE Hyperion 9. In January 2023, NVIDIA Corporation partnered with one of the largest technology manufacturers in the world, Foxconn, under which Foxconn-manufactured EVs will be equipped with DRIVE Orin ECUs and DRIVE Hyperion sensors to meet highly automated driving capabilities.
Qualcomm Incorporated designs and manufactures digital wireless telecommunication products and services. It also offers Integrated Circuit (IC) and system software for wireless devices. The company has presence in various countries, including Brazil, China, France, Germany, India, Indonesia, and Japan. It offers wireless technology solutions for automotive and connected automobile applications, including sensors, communications, and navigation systems. One of its key sensor offerings is the 3D Sonic Sensor, an ultrasonic fingerprint reader. Qualcomm Incorporated collaborates with major automakers and Tier 1 suppliers such as Continental AG (Germany), Robert Bosch GmbH (Germany), and Delphi (UK) for 5G connectivity, 3D sensing, battery management, and sensor fusion solutions. For instance, in January 2023, the company partnered with Hyundai Mobis (South Korea) to develop an integrated autonomous driving controller that can be scaled up to level 3 based on the Snapdragon Ride Platforms by Qualcomm Incorporated. Similarly, in May 2022, it announced that Volkswagen Group had chosen the Qualcomm Snapdragon Ride platform to power its next-gen automotive brands, such as Audi, Bentley, Lamborghini, Porsche, and Volkswagen.
Sensor Fusion Market for Automotive by Level of Autonomy (L2, L3, L4), Vehicle Type (Passenger Cars, LCV, HCV), Electric Vehicle Type (BEV, PHEV, FCEV), Sensor Platform, Fusion Level (Data, Feature), Sensor Type, Algorithm, Region - Global Forecast 2030
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