According to a new report Global Sensor Fusion Market, published by KBV research, The Global Sensor Fusion Market size is expected to reach $10 billion by 2027, rising at a market growth of 17.8% CAGR during the forecast period.
The MEMS market is generating high revenue in the Global Sensor Fusion Market by Technology 2020, thereby, achieving a market value of $6.5 billion by 2027. Micro Electro-Mechanical Systems (MEMS) is a chip-based technology. A suspended mass is placed between two capacitive plates in sensors. When the sensor is tilted, the hanging mass causes an electric potential difference. A change in capacitance is used to measure the difference.
The IMU market acquired maximum revenue share in the Global Sensor Fusion Market by Type 2020, thereby, achieving a market value of $3.5 billion by 2027. This is owing to the large number of goods that rely on these sensors for accuracy. IMU is a type of sensor used to calculate angular rate, force and often magnetic field. In addition, IMUs detect rotational movement of the three axes, which are typically referred to as Pitch, Roll, and YAW. It does so by utilising the capabilities of accelerometers, gyroscopes, and magnetometers.
The Healthcare market shows highest growth rate of 17.4% during (2021 - 2027). It is owing to the usage of sensor fusion in the development of various healthcare devices across the globe along with the growing investment on healthcare by many governments.
The Asia Pacific market region shows high market share in the Global Sensor Fusion Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4.0 billion by 2027. The Europe market is expected to witness a CAGR of 17.3% during (2021 - 2027). Additionally, The North America market is expected to witness a CAGR of 17.6% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/sensor-fusion-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Analog Devices, Inc., Renesas Electronics Corporation, TDK Corporation (InvenSense, Inc.), STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Asahi Kasei Corporation, Robert Bosch GmbH, CEVA, Inc., and MEMSIC Semiconductor Co., Ltd. (IDG Capital Investment Consultant Beijing Co Ltd.).
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