Automotive LiDAR Market Growth & Trends
Many modern automobiles utilize cameras, radar and sensors to enable a variety of advanced driver assistance systems (ADAS). Blind-spot warning to rear cross-traffic alert, collision warning, avoidance systems and adaptive cruise control are just a few examples of well-established technologies that help drivers and automate certain driving activities, making driving safer and easier. However, LiDAR, a next-generation technology, improves a car’s ability to "see" their surroundings. This technology makes driving on the road safer for today's drivers and promises to advance autonomous vehicle development in the future. LiDAR, is an acronym for "light detection and ranging." In general, infrared light or lasers are used to build a three-dimensional image of an environment. LiDAR was originally developed by NASA to track the positions and routes of satellites in orbit, but as the technology evolved, new terrestrial-based uses emerged, such as automobile safety technologies and the development of autonomous vehicle systems. The outstanding technological accomplishments that automotive LiDAR market providers are consistently accomplishing are proof that this sector has scope to generate big profit in the upcoming years by incorporating advanced technologies.
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Product development and R&D investment are the two main strategies used by the leading automobile market players in this area to expand their global footprint, which is favoring the growth of automotive LiDAR market. Moreover, it has penetrated into most industries such as construction, automotive, and agriculture industries due to its exact accuracy and precision. LiDAR technology has been widely accepted over traditional aerial mapping methods due to the range of information and advantages it provides. The adoption of LiDAR technology is increasing in numerous areas in tandem with the trend of innovation, owing to the benefits connected with LiDAR. However, the automotive and mobility industries have embraced it to a large extent. Almost every vehicle in today's world incorporates LiDAR to assess adjacent impediments. Furthermore, the expense of solid-state LiDAR is no longer an impediment to growth. The increasing deployment of LiDAR technology in the automotive industry has prompted key market players to develop new products and ideas. Osram, a lighting company, for instance recently expanded its LiDAR photonics portfolio, with the goal of improving autonomous vehicles' ability to sense their surroundings. The component was designed specifically for high-resolution background detection. There is widespread agreement that sensor fusion of LiDAR, radar, and camera systems can provide the necessary security for autonomous driving.
Since the early 2010s, automated vehicle technology has grown at a rapid speed, coinciding with the rise in popularity of self-driving automobiles. When it comes to choosing the sensors for ADAS, self-driving car manufacturers have a few possibilities. Radars of various ranges, ultrasonic systems, optical cameras, and LiDAR are among the most prominent self-driving automobile technologies. Optical cameras and radars are frequently used in conjunction, while LiDAR is used as a stand-alone device. Major LiDAR businesses are focusing on the development and deployment of cost-effective solid-state automotive LIDAR technologies, which showcases potential growth opportunities for the global automotive LiDAR market over the forecast period. Because of their advanced characteristics, computer-assisted technologies like LiDAR are increasingly required as millions of dollars are spent on smart infrastructure. For example, with the use of intelligence of its microprocessor, LiDAR's great resolution can avert accidents at a four-way highway crossing where several vehicles approach from diverse directions at high speeds. With the development of increasingly powerful and smaller LiDAR sensors, the technology is gaining traction in the autonomous mobility market. In September 2021, for instance, Juzhen Data Tech, a Chinese maker of autonomous delivery vehicles, announced a strategic collaboration with Ouster Inc, a leading developer of high-precision LiDAR sensors. To enable autonomous transportation between industrial centers, each of its delivery vehicles will be equipped with up to three Ouster OS1 sensors for mapping, navigation, and obstacle avoidance. Thus such advancements and investments in LiDAR are boosting the global automotive LiDAR market.
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Our 420+ Pages Report titled, “Automotive LiDAR Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021 - 2029”, will include extensive information on the following pointers:
- Global market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Years Considered (2015 – 2029)
- Historic Years: 2015 - 2019
- Base Year: 2020
- Forecast Years: 2021 – 2029
- Market determinants and Influencing Factors
- Market Dynamics (Drivers, Restraints, Opportunities and Trends)
- Impact of Covid-19: Global Automotive LiDAR Market
- Macro-Economic and Micro-Economic Indicators
- Porter’s Five Forces Analysis
- Competitive Benchmarking: Global Presence and Growth Strategies
- Market Share Analysis, 2020
- Detailed profiles of major market participants operating in the market, encompassing information pertaining to company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies
- Region specific reports including North America, Europe, Asia Pacific, Middle East & Africa and Latin America are also available in our repository.
- The reports can be provided in different languages including French, Korean, Japanese, Arabic, Spanish, German, Russian, Chinese and other languages.
Global Automotive LiDAR Market Report Highlights
- Solid state LiDARs are growing at the fastest rate in the global automotive LiDAR market. There have been numerous technological advancements in solid state LiDAR’s such as increased precision and resolution for long range detection. Moreover, solid state LiDARs are being increasingly incorporated in self-driving cars, which is boosting the segment’s share in the global market.
- Based on range, long range LiDARs are anticipated to witness fastest growth in the global automotive LiDAR market. Long range LiDAR offer high resolution and wide field of vision for vehicle safety. Car manufactures are largely incorporating long range LiDARs laser-based distance measurement tool, which can reliably detect even non-metallic objects like rocks at a great distance.
- The rise in adoption of autonomous vehicles has led to an increased demand for LiDARs, which help autonomous vehicles navigate environments in real time. The sensors used in LiDAR offer precise and reliable navigation in real time for autonomous vehicles in urban and highway environments.
- 3D LiDARs have gained huge traction in the automotive industry in the last few years. The development of real-time 3D LiDAR is a significant advancement in the technology as it offers better resolution of the images captured. Moreover, the new sensors enable higher speed data acquisition of the surrounding environment for effective monitoring.
- In the last few years, there has been a substantial rise in integrating advanced LiDARs in commercial vehicles to improve their spatial awareness and obstacle detection with a 360° view around the vehicle, thereby reducing the risks of accidents.
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Global Automotive LiDAR Market Segmentation
Absolute Markets Insights has segmented the global automotive LiDAR market on the basis of technology, range, application, image processing, vehicle type and region:
Automotive LiDAR Technology Outlook (Revenue, USD Million, 2015 - 2029)
- Mechanical
- Solid State
Automotive LiDAR Range Outlook (Revenue, USD Million, 2015 - 2029)
- Long Range (More than 200m)
- Mid Range (50m to 200m)
- Short Range (Less than 50m)
Automotive LiDAR Application Outlook (Revenue, USD Million, 2015 - 2029)
- Semi-Autonomous Vehicles
- Autonomous Vehicles
Automotive LiDAR Image Processing Outlook (Revenue, USD Million, 2015 - 2029)
- 2-Dimensional (2D)
- 3-Dimensional (3D)
Automotive LiDAR Vehicle Type Outlook (Revenue, USD Million, 2015 - 2029)
- Personal Vehicles
- Commercial Vehicles
- Heavy Commercial Vehicles
- Light Commercial Vehicles
Automotive LiDAR Regional Outlook (Revenue, USD Million, 2015 - 2029)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
List of Key Players of Global Automotive LiDAR Market:
- Aeva Inc.
- AEye, Inc.
- Continental AG
- hybrid-lidar.com
- Ibeo Automotive Systems GmbH
- Innoviz Technologies Ltd
- Innovusion
- LeddarTech Inc.
- Luminar Technologies, Inc.
- Ouster, Inc.
- Quanergy Systems, Inc.
- Robert Bosch GmbH.
- RoboSense
- Valeo
- Velodyne Lidar, Inc.
- Other Market Participants
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