SENSOR FUSION MARKET ANALYSIS

Market Challenges And Opportunities

Increasing demand for sensor-based applications in smart phones is one of the major factors driving growth of the market

The increasing demand for sensor-based applications in smart phones is one of the major factors driving growth of the market. This is attributed to the rising competition among the smartphone manufactures such as Apple Inc., Samsung Electronics Co., Ltd., and Huawei Technologies Co., who are investing in research and development, in order to develop sensor-based applications that will differentiate their products from the others. This factor is expected to drive growth of the market over the forecast period. For instance, iPhone X launched by Apple uses the front-facing 3D sensor for face ID, which is a facial-recognition system that replaces the fingerprint sensor for unlocking the handset.

Furthermore, smart phones are integrated with different types of sensors such as accelerometer, gyroscope, magnetometer, proximity, and pressure sensors where each sensor generates data individually, thereby increasing the demand for data security. For instance, according to Coherent Market Insights’ analysis, in July 2017, the number of cybercrime cases raised to 84.1% from 68.8%. Cyber Espionage reduced to 10.1% from 15.6% in June whereas Cyber Warfare plummets to 4.3% from 9.4%. Therefore, increasing cases of cybercrime will force the manufactures of smart phones to centralize the data generated by the sensors to strengthen their data security. This is expected to drive growth of the sensor fusion market over the forecast period.

Increasing complexity of the sensor fusion system and software is one of the major factors that hamper growth of the market

The rising complexity in the algorithm of sensor fusion system and software, which will, in turn increase the software overhead expenses and additional processing capabilities is one of the major factors that is expected to hamper growth of the market over the forecast period.