Sensor Fusion Market

Market Leaders - Sensor Fusion Market for Automotive

The global automotive sensor fusion market for ICE vehicle is estimated to be USD 2.9 billion in 2021 and is projected to reach USD 22.2 billion by 2030, growing at a CAGR of 25.4% from 2021 to 2030. Asia-Pacific is estimated to lead the market during the forecast. The demand for cars with enhanced safety and comfort and stringent safety standards is driving sensor fusion market for automotive.

The factors such as stringent safety regulations, growing demand for premium and luxury cars, technological advancements in sensors are expected to drive the adoption of sensor fusion in vehicles, particularly passenger cars. The market is dominated by global 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). These companies adopted the strategies of expansion, new product development, partnerships, and mergers & acquisitions to retain their leading position in the sensor fusion market for automotive.

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Robert Bosch GmbH (Germany) is a major company in the sensor fusion market for automotive. Bosch offers a diversified product portfolio across the automotive sensor fusion market. A balanced product portfolio secures the company against unfavorable forces in the market by dispersing its business risks and benefiting from opportunities available across industries. The company’s focus on R&D allows it to introduce various advanced sensor fusion technologies and components. Bosch invested 8.2% of total sales, i.e., USD 6.7 billion in 2020 in R&D. The change led by Bosch in the arena of artificial intelligence, especially automation and electrification, has opened new sales opportunities. Bosch focuses on organic and inorganic developments. Its demonstration with Ford Motor Company and Bedrock Enterprises Private Limited News, a real estate company to test operations of Level 4 parking in the US in 2020, is expected to popularize its sensor fusion portfolio in the automotive industry, thus setting a benchmark. The company is driving forward innovations in both products and business models to be a data-driven AIoT company.

 Continental AG has a strong geographic presence across the globe. This helps it cater to the specific regional needs of its customers, thereby tapping the growing markets for sensors. The company’s increased focus on R&D gives it an added advantage over its competitors. R&D expenses in the autonomous mobility & safety business division were at 11% of its total sales in 2020, amounting to USD 1.1 billion. The company also focuses on safer, connected, and more convenient mobility by supplying integrated vehicle architecture and comprehensive computer programs for controlling mobility systems. Continental AG focuses on organic developments, new product developments, and expansions. The company is aligning its cost structure to global market conditions. In addition to adjusting cost structure, it is continuously increasing its level of automation and digitization in production environment with more than 2,000 robots, including autonomous, driverless transportation systems. The company expanded its production capacity in Europe and North America for vehicle dynamics and ADAS business units.

ZF Friedrichshafen, Aptiv, Infineon Technologies, NXP Semiconductors N.V., Denso Corporation are some of the other players in this market. In April 2021, Continental AG launched new radar sensors for 360-degree coverage with a longer range. The sixth-generation sensor has been created as a modular system with less complexity allowing for potential expenditure, cost savings, and increased performance. In July 2021, Bosch and VW partnered to harvest real-time information for high-resolution maps that will continuously update highly accurate locations, road safety, and a large fleet of vehicles.

Related Reports:

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

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
AT 7987
RI Published ON
9/24/2021
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