The Europe Automotive Sensor Fusion Market would witness market growth of 22.0% CAGR during the forecast period (2022-2028).
In order to continuously analyze their environment, make wise decisions, and anticipate any changes that can affect a route, autonomous driving systems use four fundamental machine learning functions. The automation of driving is performed by combining sensors and autonomous vehicle technologies. Since they are capable of independent decision-making and driving tasks, autonomous cars are replacing conventional vehicles on the road.
3700 people every day, or 1.3 million people annually, lose their lives in traffic accidents. By equipping vehicles with the required safety features, the majority of accidents can be avoided. The need for autonomous vehicles will skyrocket in a few years. The majority of the auto industry and research institutions are putting all of their effort into ensuring the safety of self-driving automobiles.
The development of highly accurate environment perception and navigation algorithms that can safely move from one location to another while avoiding obstacles is necessary to make self-driving automobiles a reality. As is well known, a camera or other visual-based sensor has limitations in low light and inclement weather. LiDAR's effectiveness is constrained by harsh weather conditions including persistent fog and heavy rain. The data from radar is rather scarce for identifying and tracking obstacles, despite the fact that it operates well in all weather conditions.
In December 2021, battery electric vehicles accounted for almost 25% of all new cars sold in the UK. Since road transportation there is currently decarbonizing at an astounding rate, the UK is leading this revolution. The government, which is dedicated to keeping at the forefront of this change, was the first in the G7 to announce the phase-out dates for modern gasoline and diesel-powered vehicles, vans, and Lorries. With the expanding automotive industry across the region, the automotive sensor fusion market would also expand in Europe.
The Germany market dominated the Europe Automotive Sensor Fusion Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $479.9 Million by 2028. The UK market is anticipated to grow at a CAGR of 21.1% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 22.9% during (2022 - 2028).
Based on Propulsion Type, the market is segmented into ICE, BEV, and HEV. Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Technology, the market is segmented into IMU, Image Sensors, Radar Sensors, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Automotive Sensor Fusion Market will Hit $7.3 Billion by 2028, at a CAGR of 22.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NVIDIA Corporation, NXP Semiconductors N.V., Robert Bosch GmbH, TE Connectivity Ltd., Infineon Technologies AG, ZF Friedrichshafen AG, TDK Corporation, STMicroelectronics N.V., Aptiv PLC, and Texas Instruments, Inc.
By Propulsion Type
By Vehicle Type
By Technology
By Country
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