Automotive LiDAR Market – Size, Analysis, Forecast & Competition Benchmarking
Report Segment | Technology > Automotive and Transportation Tech
Automotive LiDAR Market Overview: Download Sample Report - Click Here
The market for Automotive LiDAR was valued at XX Mn USD in the year 2023 and expected to reach XX Mn by the year 2030. The CAGR for the market is XX% during the period 2019 -2030.
LiDAR, or light detection and ranging, is a type of remote sensing technology that measures an object’s distance using pulsed lasers. Automotive LiDAR sensors are installed on the vehicle and shoot laser beams that reflect off nearby objects. The sensor can then determine how far away each object is by timing how long it takes for the reflected light to return. Using this information, a highly comprehensive three-dimensional map of the car’s surroundings is produced. This map can be utilised for a number of application which included Autonomous driving, Advanced driver-assistance systems (ADAS), and Parking assistance. The market for automotive LiDAR sensors is expanding quickly due to the growing popularity of autonomous vehicles, which depend on these sensors for safety and accident avoidance. Additionally, over the course of the estimated period, a rise in innovations by market players—such as the incorporation of sensor technology in LiDAR point clouds through feature extraction and clustering to sense obstacles more effectively—are expected to reveal lucrative opportunities for the growth of the automotive LiDAR sensors market.?
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Automotive LiDAR Market Dynamics:Download Sample Report - Click Here
Automotive LiDAR Market Drivers
Automotive LiDAR Market Restraints
Automotive LiDAR Market Opportunities
Automotive LiDAR Market Trends
Automotive LiDAR Market Report Segments Overview:Download Sample Report - Click Here
Type Segment Overview:?
Frequency-Modulated-Continuous-Wave (FMCW) dominated the market and is anticipated to grow at an significant rate in the forecast period (2024 – 2030) . FMCW is currently experiencing faster growth over Time of Flight(ToF) due to various reasons. ToF and FMCW LiDAR both provide useful features for the automotive sector. Nonetheless, FMCW seems to be the way of the future for automotive LiDAR given its quicker growth, technological advantages, and growing emphasis on enhanced ADAS and autonomous driving. When it comes to difficult conditions like rain or poor light, FMCW can outperform ToF in terms of detection accuracy and range. For more advanced ADAS and autonomous driving features, FMCW offers more information on object velocity. FMCW systems can be build with simpler designs, which could result in less costs and easy integration into automobiles. ToF still mostly uses bulkier mechanical LiDAR, but its rise is being further fueled by the development of tiny and reasonably priced FMCW LiDAR sensors based on solid-state technology. Given its better performance and capabilities over ToF, FMCW becomes a more appealing option as the market moves towards higher-level ADAS and autonomous driving applications.While ToF will probably continue to be useful for fundamental ADAS features in the near future, FMCW’s greater capabilities may expand it in the long run.
Image Type Segment Overview:?
The market is dominated by the 3 Dimensional category in the historical period. Advanced ADAS and autonomous driving functions depend on 3D LiDAR’s ability to produce a true three-dimensional (3D) picture of the environment and precise depth information. When it comes to essential safety applications, 3D LiDAR sensors are more suitable because they can typically achieve more accuracy and range than 2D LiDAR. Better navigation and decision-making abilities can be achieved by using advanced 3D LiDAR systems, which can identify things according to their size and shape in addition to just detecting them. The substantial expansion in this market is being driven by the introduction of solid-state 3D LiDAR sensors that are small and inexpensive. The shortcomings of bulky, costly mechanical 3D LiDAR are addressed by this technology, increasing its appeal for broader use.
Vehicle Type Segment Overview:?
In the historic period, the Battery Electric vehicle segment held the highest revenue share and dominated the market. Government subsidies, the decline in battery costs, and growing environmental concerns are the main drivers of this rapid expansion of the segment and expected to hold strong revenue share in the coming years.
Although BEVs are already in the fast lane, their increased battery range, faster charging, and cheaper batteries can hasten the adoption of BEVs. For the use of BEVs to continue growing, widespread infrastructure for charging them is essential, particularly in developing nations. Maintaining incentives and encouraging legislation can have a big impact on BEV adoption.
Application Type Segment Overview:?
The global automotive LiDAR market is divided into ADAS, autonomous vehicles based on the application. Adaptive cruise control (ACC) and automated emergency braking (AEB) are two more sub-segments of the ADAS segment. In terms of revenue share, the ADAS segment led the market? in 2023 with almost XX%. Active cruise control and short- and long-range radars are two ADAS functions. LiDAR uses dead reckoning sensors for odometry operations and aids in the 3D mapping of the surrounding area. The ultrasonic function aids in obstacle detection, including parking and pedestrians. A Complementary Metal-Oxide-Semiconductor (CMOS) image sensor is capable of identifying traffic signs from a side perspective and identifying blind spots.
Automotive LiDAR Market Regional Outlook:Download Sample Report - Click Here
North America: North America held the most revenue share in 2023 and dominated the market. It is projected that automotive LiDAR sales will rise in the region as more administrative requirements requiring the installation of automobile safety technology in both light-duty and heavy-duty vehicles become more widely adopted. The use of LiDAR sensors in dynamic remote sensing applications and collision avoidance systems are among the major developments in the sector. The majority of ADAS application-based LiDAR system sales in North America and Europe were attributed to the automotive industry.
Asia Pacific:Throughout the projection period, Asia Pacific is anticipated to increase at the fastest rate. The region’s market is expanding as a result of developments in LiDAR technology, including the creation of solid-state LiDAR and the shrinking of sensors. Compared to conventional mechanical scanning LiDAR systems, solid-state LiDAR offers smaller dimensions, enhanced durability, and cheaper prices. The adoption of LiDAR technology in the Asia Pacific automotive industry is accelerating because to these advances, which are making it more accessible to a larger variety of vehicles, including entry-level and mid-range cars.
Europe: Over the projected period, Europe is anticipated to have tremendous growth across various countries. Large OEMs including Volkswagen, Daimler, PSA Peugeot Citroen, and The Volvo Group operate in the rapidly expanding European market. Due to superior management in the small-scale deployment, the Netherlands and Sweden are two of the few nations where OEMs may use these automobiles. In addition, European Union laws governing vehicle pollution and rising energy costs would encourage German and British car owners to equip their vehicles with cutting-edge safety measures in addition to transitioning to completely autonomous cars. It is anticipated to increase LiDAR system sales in the area.
Middle East & Africa: The automotive LiDAR industry is faced with a unique and complicated terrain in the Middle East and Africa (MEA) region, full with both challenging obstacles and fascinating potential. Here’s a closer look at its situation right now and what lies ahead. The GDP growth of nations like Saudi Arabia and the United Arab Emirates is increasing demand for high-end, luxurious cars with ADAS features like LiDAR.
?Adoption of LiDAR in traffic management and autonomous vehicle infrastructure is facilitated by government investments in smart city development, with an emphasis on intelligent transportation systems. Growing numbers of middle-class people provide a wider range of potential buyers for cars equipped with LiDAR technology, which propels market expansion.
Automotive LiDAR Market Players Mapping:Download Sample Report - Click Here
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