Automotive LiDAR Market to Have a Promising Future Ahead!

Increasing focus on vehicle safety features, developments of semi-autonomous & autonomous vehicles, rising emphasis from governments for advanced driver assistance systems (ADAS) incorporated vehicles, and surging investments & funding in LiDAR startups are prominent factors that are expected to boost the automotive LiDAR market during the forecast period

The growing demand for autonomous vehicles is more likely to accelerate the demand for LiDAR systems in order to enhance the driving experience.

LiDAR technology is lucratively used in electronic components such as tire pressure monitoring systems (TPMS), power steering, heat control infotainment, and anti-lock braking system. Sensors, actuators, and microcontrollers make use of LiDAR, which, in turn, drives the automotive LiDAR market.

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The rapid development of next-generation self-driving vehicles, such as robot taxis and autonomous shuttles, is further expected to pose the demand for these autonomous vehicles. These vehicles are heavily depending on LiDAR sensors for their operations. Thus, developments in semi-autonomous and autonomous vehicle technology are expected to drive the automotive LiDAR market across the globe.