HONG KONG, June 03, 2021 (GLOBE NEWSWIRE) -- Tailor Insight, the fintech market research organization, recently released a research report "WIMI Announces Its Entry into 3D Holographic Pulse Lidar Products, and Significant Development of Consumer-Grade Lidar". Under the trend of smart cars and various consumption upgrades, more and more products are matched with lidar. From the market perspective, the performance of lidar in recent years has been very eye-catching, especially in autonomous vehicles.
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.
The development of automatic driving needs the joint efforts of technology enterprises and vehicle enterprises. For example, technology enterprises should be intelligent and unmanned, which is their advantage. There are also traditional car companies, new car companies and TL1 to provide new platforms. For example, BYD now opens the line control, and the operation of the executive agency, OTI. And software upgrades. So the algorithm becomes very important, and the function can be upgraded through the algorithm and software. There is also the rapid formation of industrial ecology, as well as solid-state laser radar, AI chip and vehicle computer, which are the key parts industry in the upstream. There are laser radar and multi-modal sensor fusion module, which are all computer vision. Lidar from the first generation of scanning, is now using a mixed solid-state lidar. This is a transition, the real industrialization is pure solid-state lidar. Now it has been pushed out at home and abroad. For example, there are OPI, flash and MEMS. And 1150 nm high-power lidar.
For now, the most popular applications of lidar in the field of the Internet of Things are autonomous driving and the Internet of Vehicles. According to foreign media reports, analyst firm TrendForce predicts that due to the development of advanced driver assistance systems (ADAS), autonomous vehicles, industry, transportation, and smart cities, the LiDAR market will grow from $682 million in 2020 to $2.9 billion in 2025. Meanwhile, ADAS and self-driving cars will be the largest source of income, followed by industry and transportation.
According to TrendForce's data, despite the impact of the COVID-19 epidemic on the automotive industry, community electric vehicles, with a maximum speed of 25mph and a maximum load of 1400 kg, are still being mass-produced. Some of these vehicles are also equipped with LiDAR, which undoubtedly increases the demand for this technology. As LiDAR is equipped on high-end traditional gasoline vehicles, self-driving buses, robotic taxis, and self-driving trucks, its demand is also growing.
LiDAR is an important part of self-driving cars because it can help the in-vehicle system understand whether there are obstacles that need to be avoided around the vehicle. Since the technology runs much faster than humans, vehicles using LiDAR can significantly reduce the occurrence of traffic accidents.
Compared with ultrasonic radar, millimeter-wave radar, and camera, Lidar has the advantages of long-range measurement, excellent angular resolution, and less impact on ambient light. It does not require deep learning algorithms and can directly obtain the distance and location information of objects. Solid-state lidar is generally considered by the industry to be the core sensor for high-level autonomous driving. Many autopilot manufacturers and lidar companies have launched their own solid-state lidars during this period.
WIMI decides to develop the 3D holographic pulse Lidar product, "WiMi HoloPulse LiDAR", to further expand the company's holographic product portfolio matrix. Technology and intellectual property rights are "sharp blades" for moving toward the future and overcoming obstacles. Recently, it won the bid for China Mobile and the media cloud platform holographic remote interaction, and it was once again selected by operators as a technology provider of 5G holographic communication. 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.
It is said that WIMI has core intellectual property rights and is not restricted by overseas companies. It has approximately 4654 AR holographic contents, 106 software copyrights, and 180 registered patents. WIMI is committed to using holographic technology to meet the entertainment and business needs of customers and end-users.
According to some reports, 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.
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.
Due to the explosive demand for automotive holographic applications, WIMI Hologram Cloud will develop solutions such as holographic in-vehicle equipment, holographic in-vehicle chips, and holographic in-vehicle software to meet the needs of automotive holographic applications. WIMI is committed to holographic in-vehicle software and hardware integration solutions, and it will develop more holographic AR patents and products suitable for the automotive industry to establish more customer relationships.
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Media contact
Alex Xie, Senior Analyst
Fintech Research Team, Tailor Insight Research