Global Automotive LiDAR sensors Market is valued approximately at USD 167 million in 2019 and is anticipated to grow with a healthy growth rate of more than 28% over the forecast period 2020-2026. Automotive LiDAR Sensors are utilized to improve a vehicles navigation capability through detection and avoidance of obstacles in route. The Light Detection and Ranging sensors (LiDAR) are detection and survey techniques to assess the closeness of an object. A LiDAR system primarily comprises of a scanner, a laser and a specific GPS receiver. An optical pulse is produced by the laser, which constitutes radiated and transmitted toward the target. A light detection and ranging (LiDAR) sensors have made the examination, detection, and mapping of objects easier than conventional methods. Rising trend of semi-autonomous vehicles, increasing vehicle safety regulations and growing adoption of ADAS technology by OEMs are key driving forces of the market growth. The key players of global automotive LiDAR sensors market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, in 2017, Continental AG launched High-Resolution 3D flash LiDAR and novel LiDAR solution specially for automobiles. Also, in January 2017, Innoviz Technologies Ltd. established its initial high classification solid-state LiDAR (HD-SSL) InnovizOne. This InnovizOne facilitates smart and developed features of 3D remote sensing with high accurate in processing real-time 3D images of the vehicle surrounding, as per the company demonstration. Further, increasing trend of autonomous vehicle is expected to create significant growth opportunity in the market over the forecast period. However, the high cost of the LiDAR sensors impedes the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Automotive LiDAR sensors market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the supportive government norms. The European Union is in favor of legalizing the usage of LiDAR-based ADAS applications to upsurge vehicle safety. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as Increase in the adoption rate of advanced driver-assistance systems technologies, increase in the number of road fatalities would create lucrative growth prospects for the Automotive LiDAR sensors market across Asia-Pacific region.
Major market player included in this report are:
Delphi Automotive PLC
ZF Friedrichshafen AG
Infineon Technologies AG
Velodyne LiDAR, Inc.
Texas Instruments Inc.
First Sensor AG
Quanergy Systems Inc.
Innoviz Technologies, Ltd.
Major Market Developments
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Image Type:
Bumper and grill
Headlight and taillight
Roof and upper pillars
Others (windscreens and rear-view mirrors, among others)
By Vehicle Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Automotive LiDAR sensors Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers