Automotive Fusion Sensors: Introduction
Recent developments in the vehicle industry have led to modern vehicles being equipped with safety and drive assist systems, including Automated Emergency Braking System (AEBS), Adaptive Cruise Control (ACC), Forward Collision Warning (FCW) system, Driver Fatigue Monitoring (DFM) system, etc. Such systems continuously gather data through RADAR, LiDAR, cameras, and a combination of sensors incorporated within the vehicle. Automotive sensor fusion enables gathering data received through different channels, such as cameras, sensors, RADAR, LiDAR, and ultrasonic sound technology to calculate correct position and alignment information to perceive surroundings of the vehicle. Autonomous vehicles encompass ADAS, AEBS, ACC, FCWS, and DFMS ensuring safety of both passengers and driver, thereby propelling of the global fusion sensors market.
Key Drivers of Automotive Fusion Sensors Market
As per the European Commission, 25,600 people died in road accidents in 2016. In order to ensure public safety, various system manufactures and regulatory organizations have invested in developing safety features. For instance, automatic emergency braking system slows down and stops the vehicle automatically in case it senses some obstacle in the path of the vehicle. As per the National Highway Traffic Safety Administration (NHTSA), approximately 3,166 people were killed by distracted driving in 2017. In order to increase driver’s attention while driving a vehicle, OEM are incorporating driver assist systems and driver fatigue monitoring systems. These systems gather data and process it with the help of fusion sensors accurately in order to avoid collision, accidents, ensuring safety of passengers and drivers. The demand in safety features incorporating various electronic devices and equipment drives market for automotive fusion sensors.
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As the autonomous vehicle technology is progressing from a simple driver assist technology to self-driving fully autonomous vehicles, driverless cars have become a reality. This increases personal safety, saves travelling time, and reduces transportation cost. Autonomous vehicles are connected IoT vehicles, which are powered by Artificial Intelligence (AI). Various systems are responsible for different features that are operated individually. The AI operates various systems simultaneously, generating new data continuously. All the data is only an input provided by cameras, sensors in vehicles, and in raw format that needs further processing for AI to make decisions. The demand for automotive fusion sensors can be attributed to continuous data processing by AI system for decision making.
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Threat of New Entrants
Availability of various investors and government subsidies for entrepreneurs have enabled new players to enter the automotive fusion sensors market. In order to capture the current market, new business players are lowering prices for their technologies. This creates a seemingly large gap between prices offered by OEMs and new entrants for similar technologies. This is a strategical challenge for OEMs and aftermarket players.
Continuous Development of Autonomous Vehicles Offers Lucrative Opportunities
Continuous trials and development in order to meet customer expectations for safety and luxury can be attributed to the rise in demand for autonomous AI powered vehicles and electric vehicles incorporating various systems such as IoT, AEB. Automotive fusion sensors are used for controlling, monitoring, and processing the data generated by various system input devices such as proximity sensors, motion detectors, cameras, and others. The extensive use of such input devices in autonomous and electrical vehicles, which generate data constantly, is propelling the market for automotive fusion sensors.
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North America to Lead Automotive Fusion Sensors Market
Increase in investments from various investors and government organizations, such as defense, are fueling the market for automotive fusion sensors in North America
Customers are registering and buying electrical vehicles, owing to improved lifestyle and increased disposable income, thus fueling the demand for automotive fusion sensors in the region
Asia Pacific is the most favorable market for automotive fusion sensors. China dominates the market in Asia Pacific region, owing to high sales of electric vehicles in the country
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Key Players Operating in Global Automotive Fusion Sensors Market
The global automotive fusion sensors market is highly concentrated with top manufacturers. Some of the key players operating in the global market are:
PNI Sensor Corporation
Bosch Sensortec GmbH
Analog Devices Inc.
NXP Semiconductors N.V.
Global Automotive Fusion Sensors Market – Research Scope
Global Automotive Fusion Sensors Market, by Propulsion Type
Global Automotive Fusion Sensors Market, by Application System
Automated Emergency Braking System (AEBS)
Adaptive Cruise Control System (ACC)
Forward Collision Warning System (FCWS)
Driver Fatigue Monitoring System (DFMS)
Advanced Drive Assist System (ADAS)
Global Automotive Fusion Sensors Market, by type of end user
Electronics & Telecommunication Industry
Global Automotive Fusion Sensors Market, by Type of Automakers
The following regional segments are covered comprehensively:
The Middle East and Africa
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Automotive Fusion Sensors: Introduction