Sensor Fusion Market size likely to grow at 17% CAGR from 2016 to 2024

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Sensor Fusion Market size projected to grow at
17 CAGR from 2016 to 2024 to surpass USD 6.5
billion by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
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Regional Analysis of Sensor Fusion Market

• Asia Pacific contributed significantly to revenue
  in 2015 owing rising demand of consumer
  electronic devices in the region.
• China sensor fusion market share is characterized
  by high demand across consumer electronic
  products and the automotive industry.
• Other major regional market segments are Japan,
  U.S., Canada, India and South Korea.

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Application Analysis of Sensor Fusion Market

• The technology intelligently combines data from
  multiple detectors to calculate accurate
  orientation and position. Micro-electromechanical
  system (MEMS) sensors have enabled various
  applications such as personal navigation, step
  counting, gaming, gesture recognition and screen
  rotation in mobile devices.
• The continuous growth and penetration of
  smartphones on a global scale is forecast to
  drive the sensor fusion market.
• The applications include advanced vehicle
  stability and next generation low emission
  engines, such as vehicle dynamic control (VDC),
  gasoline direct injection (GDI) and common rail
  diesel fuel injection (CRI).

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Competitive Market Share of Sensor Fusion
Market

• Global sensor fusion market share is expected to
  be moderately consolidated by key participants
  comprising Analog Devices, NXP Semiconductors
  N.V., Invensense, Atmel Corp., STMicroelectronics,
  Bosch Sensortec GmbH, Kionix, Renesas
  Electronics, and Baselabs GmbH.
• Mergers, acquisitions and co-development of
  products are key strategies adopted to gain
  profitability. For instance, Mobileye and
  STMicroelectronics have strategized to co-develop
  EyeQ 5 system on chip to be used from 2020, to
  function as central computer control performing
  sensor fusion for fully autonomous driving (FAD)
  vehicles.
• Companies focusing on technologies associated
  with IoT and smart driving are forecast to have
  better growth prospects.

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