The global automotive LiDAR market size is expected to hit US$ 2.3 bn during the forecast period between 2020 and 2027. The global market is estimated to expand at a healthy CAGR of 35% during the forecast tenure 2020 to 2027.
Automotive LiDAR (Light Detection and Ranging) is an advance scanning surveying technology that maps vehicle surroundings at the speed of light. LiDAR is the latest development in the automotive industry; an advancement in the predecessors of object detection technology such as RADAR (Radio Detection and Ranging) and ultrasonic. LiDAR determines objects or nearby vehicles by emitting light pulses, which reflected off objects and vehicles and create high-resolution images that provide a more accurate image of the surroundings than cameras or radar alone. Automotive LiDAR is considered as a key technology for completely autonomous vehicles, as it is capable of delivering high-definition 3D projections of the surrounding. Major auto manufacturers are leveraging automotive LiDAR as a precise technology in the race to develop safe and self-driving autonomous vehicles owing to its speed, accuracy, and versatility. Most notably, latest advances in automotive LiDAR further differentiate between a person walking or riding a bike, and even at what speed and in which direction the person is moving.
Increase in awareness about safety among vehicle users and global regulatory bodies to safeguard both passenger and vehicle safety, by minimizing accidents, is a prime factor that is likely to boost the automotive LiDAR market. Furthermore, rise in adoption of autonomous vehicles is also projected to incorporate more active advance safety components such automotive LiDAR. Rising emphasis by governments toward vehicles incorporated with advanced driver assistance systems (ADAS) in the last few years, owing to safety concerns, is also estimated to propel the global automotive LiDAR market during the forecast period. Lasers emitted from the automotive LiDAR provide accurate and high precision detection for real-time and long range detection. Automotive LiDAR continues to grow as decisive technology for self-driving and autonomous vehicles. Manufactures of automotive LiDAR are focusing on reduction of cost by cutting down the laser emitters; however, they are still quite expensive and is anticipated to restraint the automotive LiDAR market during the forecast period.
Rising Government Initiatives to Ensure Safe Diving Will Boost Demand for Automotive LiDAR
Globally, growing understanding for safe driving for both the driver and the passengers is increasing at a large scale among the users and in regulatory bodies. As the number of road accidents has increased greatly, the need for safe driving vehicles is gaining traction and acting as a prime factor for the growth of this market. To ensure safety while driving, the European New Car Assessment Programme (Euro NCAP) introduces a few prominent modifications to be followed by the manufacturers. In addition, rising government initiatives to push the demand for vehicles having advanced driver assistance systems have also grown in last few years, that is also acting as growth aggregator for the global automotive LiDAR market. Nowadays, autonomous vehicles have lasers lights in automotive LiDAR that provides accurate and high precision detection for long-range detection on the real-time basis. Moreover, manufacturers are also making continuous efforts in using advanced technologies that will greatly benefit the automotive LiDAR market in the years to come.
High Cost of LiDAR Systems to Hamper Market Growth
The global automotive LiDAR market has several restraining factors that might slow down the growth of the market. One of the major factors is the high cost of automotive LiDAR systems that may hamper the growth prospects for this market. However, the price has been reduced in the last few years and manufacturers are focusing on cutting down the cost of the laser emitters, but still, it is expensive and is expected to obstruct market growth. Furthermore, additional cost while adopting automotive LiDAR and autonomous vehicles building adaptive surroundings and having regulatory compliant systems for these vehicles to work effectively. Nevertheless, these restraints are not going to last long and the global automotive LiDAR market is will grow in coming years.
The Automotive LiDAR market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Automotive LiDAR market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Automotive LiDAR market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Automotive LiDAR market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Automotive LiDAR market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Automotive LiDAR capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Automotive LiDAR by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Automotive LiDAR market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Automotive LiDAR market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Automotive LiDAR market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Automotive LiDAR industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Automotive LiDAR market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Automotive LiDAR market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Automotive LiDAR market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Automotive LiDAR market. These factors have benefited the growth of the global market for Automotive LiDAR. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Automotive LiDAR. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Key players operating in the global automotive LiDAR market include Velodyne LiDAR, Inc., Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Denso Corporation, Delphi, Magna International Inc., Valeo, LeddarTech, Teledyne Technologies Incorporated, Infineon technologies AG, Quanergy Systems Inc., Phantom Intelligence, TriLumina, Hella GmbH & Co. KGaA, Ibeo Automotive Systems GmbH, and AEye Inc.
Global Automotive LiDAR Market, by Location
Global Automotive LiDAR Market, by Application
Global Automotive LiDAR Market, by Image Projection
Global Automotive LiDAR Market, by Sales Channel
Global Automotive LiDAR Market, by Vehicle Type
Global Automotive LiDAR Market, by Type
Global Automotive LiDAR Market, by Range Type
Global Welding Products Market: Geography
In this study, the years considered to estimate the market size of Automotive LiDAR are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are: