HONG KONG, March 24, 2021 (GLOBE NEWSWIRE) -- Tailor Insight, the fintech market research organization, recently released a research report "WIMI Develops HoloPulse LiDAR, Competing with IT Giants in Autonomous Driving Field". With the development of the field of unmanned driving, lidar is gradually emerging and becoming popular. This year is expected to be the first year of mass production.
The penetration rate of smart vehicles has increased rapidly, and global autonomous vehicles have maintained rapid growth. According to IDC's forecast, global shipments of L1-L5 autonomous vehicles in 2024 are expected to reach approximately $54.25 million, and the compound annual growth rate (CAGR) from 2020 to 2024 will reach 18.3%. As for the market share of L1 and L2 autonomous vehicles in 2024, it is expected to be 64.4% and 34.0%, respectively. The application of L3-L5 autonomous driving technology is of pioneering significance. L1-L2 assisted driving will be the largest market segment that will drive the growth of global autonomous vehicle shipments in the next five years. We believe that whether it is assisted driving or autonomous driving, the increase of the perception system is a certain trend, and the lidar is a smart car perception system.
Lidar enters the first year of mass production
As a sensor, Lidar can enhance the redundancy of the sensing system, supplement the scenes missing from millimeter-wave radar and cameras, and can perform real-time and high-precision reconstruction of three-dimensional space. Combined with pre-acquired high-precision maps, the positioning accuracy of smart cars in the environment through lidar can reach the order of centimeters, which is the key to realize unmanned driving.
It is reported that the sensing scheme using lidar not only has good compatibility in the whole scene, but also reduces the demand for computing power, which is beneficial to traditional car companies to achieve automatic driving without any harm. For this reason, in 2021, all major car companies plan or launch models with lidar. Among them, XPEV US and Weilai have already released self-driving cars equipped with lidar. Meanwhile, Honda, Mercedes-Benz, Toyota, Chana Auto, and Great Wall Automobile also stated that they will successively launch autopilot models equipped with lidar in 2021, and lidar has officially entered the first year of mass production.
Research data shows that in 2025, six million new cars worldwide will be equipped with lidar, and the penetration rate of L3 autonomous driving in passenger cars will reach 6%. According to Sullivan's estimates, by 2025, the global lidar market will be worth $13.45 billion, of which the automotive-grade lidar market will reach $4.61 billion.
Possess core intellectual property rights
Technology and intellectual property rights are essential for moving toward the future and overcoming obstacles. As a representative of global AI visual holographic AR companies, as well as the company that Weibo has a strategic investment of more than 60 million dollars, the recent performance of WIMI Hologram Cloud is also eye-catching. Recently, China Mobile and the media cloud platform holographic remote interaction won the bid, and as a technology provider of 5G holographic communication, it was once again selected by operators. In the field of lidar, WIMI seems to be catching up with it. Since the announcement of the patent of the 3D holographic pulse laser processing device for optical holography, many industry application customers have shown strong market demand. Thus, WIMI decided to develop the 3D holographic pulse Lidar product, "WIMI HoloPulse HUD", to further expand the company's holographic product portfolio matrix.
It is understood that WIMI Hologram Cloud has core intellectual property rights and is not restricted by overseas companies. It owns about 4654 AR holographic contents, 106 software copyrights, and 219 technical patents. Besides, WIMI is committed to using holographic technology to meet the entertainment and business needs of customers and end-users.
According to some public information, WIMI focuses on holographic cloud services, mainly in vehicle-mounted AR holographic HUD, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation, and other professional fields, covering multiple links of AR technology, including holographic vehicle-mounted AR technology, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication, and so on. It is a holographic cloud comprehensive technical solution provider.
Safety is the priority of autonomous driving. As the main force of advanced autonomous driving sensors, the lidar solution is more secure. According to ElecFans, it can reach 99.99999%, while sensors such as cameras and millimeter-wave radars only guarantee 99%.
Autonomous driving scenarios are currently in a period of returning to rationality, most of which are in the R&D and testing stage. According to data from the Smart Car Federation, as of June 2020, Beijing has issued test temporary license plates to a total of 77 autonomous vehicles from 13 companies. Tsing Tong Capital communicated with some founders and investors in this industry and believed that autonomous driving is expected to be basically implemented in the next five years. According to data from JPMorgan Chase, China's autonomous driving market is expected to exceed $7.1 billion in 2025, with an average annual growth rate of 33% over the five-year period.
From a global perspective, China's intelligent connected vehicles are developing fast and have a high degree of strategic support. In February 2020, 11 ministries and commissions including the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Science and Technology jointly issued the "Smart Vehicle Innovation Development Strategy", proposing that by 2025, the construction of intelligent transportation systems and smart city-related facilities will make positive progress, and wireless communication networks used for vehicles will realize regional coverage. Moreover, a new generation of automotive wireless communication networks is gradually being applied in some cities and highways, and the high-precision time-space reference service network achieves full coverage. In March 2020, the National Development and Reform Commission and the Ministry of Industry and Information Technology issued the "Notice on Organizing and Implementing New Infrastructure Construction Projects (Broadband Networks and 5G Fields) in 2020", listing the "Large-scale Verification and Application of 5G-based Vehicle-Road Cooperative Vehicle Networking" as one of the 5G innovative application upgrading projects. Compared with bicycle intelligence, 5G-based vehicle-road coordination can greatly improve driving safety, improve the efficiency of transportation systems, and reduce the cost of in-vehicle equipment, thereby promoting the rapid implementation of unmanned driving.
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Media contact
Alex Xie, Senior Analyst
Fintech Research Team, Tailor Insight Research
info@TailorInsight.com
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