According to BIS Research, the global automotive LiDAR market is anticipated to grow at a CAGR of 29.60% during the forecast period 2018-2028. The high growth rate in the volume of LiDARs is predicted due to rising customer demand, extensive usage of LiDARs in high-level automated vehicles, and an anticipated decline in manufacturing prices of LiDARs after the commencement of mass production.
There has been a growing number of vehicle-related on-road fatalities because of the increasing number of vehicles on the road, and such incidents are bound to increase in the coming years. Perceiving this lack of safety in vehicles and driving process, there is a massive demand for ADAS features and functionalities in a vehicle in the current automotive market. However, ADAS and driverless vehicles work on the input provided by automated systems, therefore, necessitating the need for more accurate and dense data provided to the system. Cameras/RADARs/ultrasonic sensors are unable to meet these sensing requirements due to various operational limitations of these sensors, which in effect, raises the need for the usage of Light Detection and Ranging (LiDARs) for a higher level of automation.
With the advent of ADAS and autonomous vehicles, there is need for a system which can assist the driver in the driving process and make it easier for the driver to travel without worrying about the safety and control issues while driving. However, ADAS and driverless vehicles work on the input provided by automated systems, therefore, necessitating the need for more accurate and dense data provided to the system. Cameras/RADARs/ultrasonic sensors are unable to meet these sensing requirements due to various operational limitations of these sensors, which in effect, raises the need for the usage of Light Detection and Ranging (LiDARs) for a higher level of automation.
The global automotive LiDAR market has witnessed several strategic and technological developments in the past few years, undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this section are product launches, partnerships and collaborations, and mergers and acquisitions. The preferred strategies for the companies have been partnerships and collaborations along with new product launches in order to strengthen their position in the global automotive LiDAR market.
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The demand for automotive LiDAR varies according to various geographical regions. The automotive LiDAR market holds a prominent share in various countries of North America, Asia-Pacific (APAC), Europe, and Rest-of-the-World (RoW). Geographically, U.S. led the global automotive LiDAR market in 2017 in terms of value as the U.S. market had a major share in the global automotive LiDAR market for the year 2017. The presence of major LiDAR manufacturers and automakers such as Ford Motors Company, General Motors, Velodyne LiDAR, Inc., and Quanergy Systems, among others, as well as advancements in the number of highly automated vehicles accounts for the high growth rate and major share of the U.S. in the automotive LiDAR market.
Key Market Players:
The key market players in the global automotive LiDAR market are Continental AG, Ibeo Automotive Systems GmbH, Garmin Ltd, Infineon Technologies, Innoviz Technologies, LeddarTech, Quanergy Systems, Inc., Phantom Intelligence, and Velodyne LiDAR, Inc., among others.
Key Questions Answered in the Report:
• What will be the global automotive LiDAR market value by 2028 along with the estimated CAGR?
• What are the driving factors for the global automotive LiDAR market through 2017 to 2028?
• Which factors are hindering the growth of the global automotive LiDAR market?
• What are the recent trends and developments in the global automotive LiDAR market?
• Which automotive LiDAR type will lead the global automotive LiDAR market by 2028?
• What is the revenue generated by automotive LiDAR across different application verticals during the forecast period (2018-2028)?
• Which application will dominate the global automotive LiDAR market by 2028?
• Which level of autonomous vehicle will dominate the global automotive LiDAR market by 2028?
• Which region will lead the global automotive LiDAR market by 2028?
• What is the patent landscape scenario for automotive LiDAR market?
• What is the direction of pricing of automotive LiDARs by 2028?
• What is the regulation landscape for autonomous vehicles and LiDAR systems?
• Who are the regulating bodies in charge of regulations related to autonomous and self-driving vehicles by 2028?
• What is the supply chain scenario for the automotive LiDAR market?
• What is the technology trend and roadmap related to autonomous vehicles and automotive LiDARs by 2028?
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
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