Richmond, Dec. 18, 2023 (GLOBE NEWSWIRE) -- According to a research report "Automotive LiDAR Market”, by Technology (Solid-state LiDAR, Mechanical/Scanning LiDAR), Image Projection (2D Automotive LiDAR, 3D Automotive LiDAR), Range Type (Short & Mid-range Automotive LiDAR, Long-range Automotive LiDAR), Application (Robotic Vehicles, ADAS) and Region - Global Forecast to 2030.
Global Automotive LiDAR Market Report Scope:
| Report | Details |
| Market size value in 2022 | USD 561.3 Million |
| Market size value in 2030 | USD 2,959.8 Million |
| CAGR (2023-2030) | 23.1% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Technology, Image Projection, Range Type, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Automotive LiDAR Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global Automotive LiDAR market plays a pivotal role in the automotive industry by revolutionizing the way vehicles perceive and navigate their surroundings. LiDAR technology utilizes laser beams to create detailed 3D maps of the environment, allowing vehicles to detect obstacles, pedestrians, and other vehicles with remarkable precision. This advanced sensing capability is essential for developing and deploying autonomous vehicles, enhancing their ability to make real-time decisions and navigate safely through complex traffic scenarios. As the automotive industry shifts towards autonomy, Automotive LiDAR becomes a critical component in ensuring the reliability and safety of self-driving vehicles, thus driving innovation and shaping the future of transportation.
The widespread adoption of Automotive LiDAR contributes to an ecosystem where vehicle autonomy is feasible, safer, and more efficient. LiDAR sensors provide a complementary layer of perception alongside other sensor technologies, such as cameras and radar, creating a comprehensive and redundant system for autonomous vehicles. This technology not only benefits the automotive industry by advancing the capabilities of self-driving cars but also contributes to the broader ecosystem of smart cities and transportation infrastructure. Ultimately, the integration of Automotive LiDAR enhances overall road safety, reduces accidents, and facilitates the evolution toward a more connected and autonomous automotive landscape.
Major Vendors in the Global Automotive Lidar Market:
- Continental AG
- Delphi Automotive PLC
- DENSO Corporation
- First Sensor AG
- HELLA GmbH & Co. KGaA
- Ibeo Automotive Systems GmbH
- Innoviz Technologies Ltd.
- LeddarTech Inc.
- Luminar Technologies Inc.
- NXP Semiconductors
- Quanergy Systems Inc.
- Robert Bosch GmbH
- TetraVue
- Valeo SA
- Velodyne LIDAR Inc.
- XenomatiX N.V.
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Advancements in Autonomous Vehicle Technologies
The rapid evolution of autonomous vehicle technologies is a significant driver for the global Automotive LiDAR market. As automotive manufacturers strive to develop and deploy self-driving vehicles, LiDAR technology plays a pivotal role in enhancing perception and navigation capabilities. LiDAR systems provide a three-dimensional, high-resolution mapping of the surrounding environment, allowing vehicles to make real-time decisions based on accurate and detailed data.
The demand for more sophisticated and reliable sensors, such as LiDAR, arises from the critical need for autonomous vehicles to navigate safely in complex and dynamic environments. Traditional sensors like cameras and radar have limitations in certain scenarios, such as low visibility conditions. LiDAR overcomes these limitations by emitting laser pulses and measuring the time taken for the light to reflect back, enabling precise distance and depth perception. As autonomous vehicle development accelerates, the demand for advanced LiDAR solutions is expected to grow, creating a positive impact on the Automotive LiDAR market.
Market Dynamics
Drivers:
- Increasing demand for autonomous vehicles.
- Growing emphasis on vehicle safety features.
- Advancements in sensor technologies.
- Government regulations promoting automotive safety.
Opportunities:
- Expansion of electric and hybrid vehicles.
- Rising investments in research and development.
- Integration of LiDAR in smart city infrastructure.
- Collaboration and partnerships among industry players.
Stringent Safety Regulations and Standards
Stringent safety regulations and standards imposed by regulatory bodies worldwide are driving the adoption of LiDAR technology in the automotive industry. Governments and safety organizations are increasingly recognizing the role of LiDAR in enhancing vehicle safety and reducing the likelihood of accidents. As a result, automotive manufacturers are integrating LiDAR sensors into their vehicles to comply with these regulations and ensure the highest levels of safety.
LiDAR technology enhances the capabilities of advanced driver-assistance systems (ADAS) by providing accurate and real-time data about the vehicle's surroundings. This data is crucial for enabling features such as automatic emergency braking, lane-keeping assistance, and adaptive cruise control. The adherence to safety standards and regulations encourages automotive OEMs to invest in LiDAR technology, driving the growth of the Automotive LiDAR market.
North America dominates the market for Automotive LiDAR.
The dominating region in the Automotive LiDAR market is North America, with the United States leading the way. The region's dominance is attributed to the presence of key players, significant investments in autonomous vehicle development, and a favorable regulatory environment. The U.S. government's support for the testing and deployment of autonomous vehicles has fueled the demand for LiDAR technology.
In terms of upcoming countries with high growth potential, China stands out prominently. China has witnessed a surge in investments in autonomous driving technology, and the government has outlined ambitious plans for the development and deployment of self-driving vehicles. The sheer size of the automotive market in China, coupled with the government's push for innovation, positions the country as a key growth area for the Automotive LiDAR market. Additionally, European countries like Germany and the UK are emerging as significant players, driven by their strong automotive industry and focus on electric and autonomous vehicles.
The Technology Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global Automotive LiDAR market, two prominent segments under the technology segment, Solid-state LiDAR and Mechanical/Scanning LiDAR, compete for dominance. Solid-state LiDAR technology, characterized by its compact and durable design without moving parts, is gaining prominence due to its reliability, reduced maintenance requirements, and improved resistance to environmental factors. This segment dominates as automotive manufacturers increasingly prioritize streamlined and robust sensing solutions. On the other hand, Mechanical/Scanning LiDAR, though historically prevalent, faces challenges such as mechanical wear and tear, limiting its appeal in the evolving automotive landscape. The ascendancy of Solid-state LiDAR can be attributed to its technological advancements, addressing key concerns associated with traditional Mechanical/Scanning LiDAR systems and aligning with the industry's demand for innovative, efficient, and dependable autonomous driving solutions.
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