The global sensor fusion market for automotive, with an estimated value of USD 2.9 billion in 2021, is projected to reach USD 22.2 billion by 2030, growing at a CAGR of 25.4% during the forecast period. The market growth is driven by several factors, including the strict safety standards implemented in countries like China, India, Brazil, the European Union, the US, and Canada. Furthermore, the increasing demand for premium and luxury cars is expected to boost the adoption of sensor fusion technology. The growing use of advanced ADAS features in vehicles for improved safety and comfort is also contributing to the demand for sensors such as cameras, radars, and LiDARs. As a result, the sensor fusion market for automotive is poised for significant growth in the coming years.
LiDAR technology is expected to be the fastest-growing segment during the forecast period. LiDAR offers precise and accurate 3D measurement data, making it suitable for collision avoidance, obstacle detection, and safe navigation in various environments. It can be combined with other sensory data to provide a reliable representation of the vehicle’s surroundings. Europe and North America are likely to adopt LiDAR early, with passenger cars expected to integrate this technology after 2023 and heavy commercial vehicles after 2024. Increased production and developments are driving the adoption of LiDAR in automobiles, as evidenced by the mass-market adoption of LiDAR for automotive ADAS by a leading global automotive OEM.
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The heavy commercial vehicle segment is expected to be the largest growing market for sensor fusion. Currently, these vehicles have limited penetration of sensor fusion technology but require more cameras and radar due to their height, longer range, and distance. Trucks are expected to adopt sensor fusion before buses, driven by fleet managers’ increasing requests for advanced safety technology. The penetration of ADAS features in trucks and buses is relatively low in countries like Germany, the US, China, India, and Brazil. However, the adoption of safety features in heavy commercial vehicles is expected to pick up after 2025, driven by more stringent safety standards.
Asia Pacific is expected to lead the sensor fusion market for automotive during the forecast period, with China and Japan accounting for the largest share. The region’s growth can be attributed to high vehicle production and the increased use of advanced electronics in countries like Japan, South Korea, and China. Governments in these countries have taken initiatives to attract major OEMs, leading to the establishment of production plants by European and American automobile manufacturers. The presence of key ADAS solution providers in the region, along with the implementation of safety standards, further drives the growth of the sensor fusion market in Asia Pacific.
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The sensor fusion market for automotive is dominated by globally established players such as Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, NXP Semiconductors N.V., Infineon Technologies, Denso Corporation, Aptiv, and ST Microelectronics.
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