Global Automotive LiDAR Sensor Market was valued US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of XX% during the forecast period.
Automotive LiDAR sensors are used to enhance vehicle navigation capabilities by detection and avoidance of difficulties enroute. The light detection and ranging sensors (LiDAR) are detection and survey systems to evaluate the nearness of an object. A LiDAR system mainly consists of a laser, a scanner, and a specialized GPS receiver. An optical pulse is created by the laser, which is radiated and transmitted toward the target. The time taken by the light pulse to bounce back and reach the receiver is measured (utilizing the speed of light) and so the distance of the target is calculated. The technology has emerged as the main pillar for the vision of autonomous cars as it gives a 3D mapping of the vehicle's surroundings. This enables a safe navigation system for the vehicles. The outputs from the LiDAR system is fed into the software, which takes the necessary decisions based on the vehicles surrounding. Some of the applications of the LiDAR system contains adaptive cruise control systems, automatic speed control, and braking systems.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
LiDAR sensors are broadly used to automate driving of vehicles through obstacle detection and avoidance, which would enable safe navigation. As almost all the original equipment manufacturers (OEMs) and Tier-I players are working toward automated driving, LiDAR technology occupies a very prominent position in achieving level 3 and level 4 in vehicle automation. Car manufacturers, for example, Delphi, Continental, Bosch, Audi, Mercedes-Benz, and Google are working on growing the autonomous driving concept and advanced driver assistance systems (ADAS) systems in vehicles. With the increasing shift toward self-driving or unmanned vehicles, there will be an increase in the application of automotive LiDAR sensors.
On account of the evolution from the infotainment concept to telematics features in vehicles, functionalities, like ADAS and vehicle-to-vehicle (V2X) are gaining extensive significance. The rising technological advances in driverless cars have required the use of efficient safety features besides infotainment, security, and performance efficiency, which is one of the critical automotive LiDAR sensors market trends. With regulations mandating numerous safety aspects, consumer demands are also pressurizing OEMs to offer new technology-enabled features, like radar sensors and blind-spot monitoring. Promising government regulations that promote road safety will enhance the deployment of ADAS in autonomous vehicles. Moreover, the developing V2X connectivity will play a vital role in achieving autonomous driving and increasing the adoption of ADAS and subsequently, LiDAR sensors in vehicles. The ability of automotive LIDAR sensors to detect objects at about 300 meters improve on-road safety, the increase in concern for improving the safety of passenger and vehicle is surging the demand for LiDAR sensors in automobiles, which is expected fuel the automotive LiDAR sensors market growth. The rise production of automobiles to meet the growing demand for automobiles as the world population grows is also expected to trend the market upward.
On the other hand, the mounting complexities and high installation and maintenance price of LiDAR systems can hamper the growth of the automotive LiDAR sensor market.
According to the application, the automotive LiDAR sensor market is separated into a semi-autonomous vehicle and autonomous vehicle. Severe protocols and policies concerning the vehicle, driving norms, environmental regulations, and an increase in consumer orientation toward safe driving are projected to boost the demand for autonomous vehicles considerably throughout the forecast period.
Global Automotive LiDAR Sensor Market 1
Region-wise, Europe dominates the automotive LiDAR sensors market, on account of increasing consumer's inclination towards the adoption of safety features and government regulations on the inclusion of safety features in cars. The European Commission is calling for all new cars to be fitted with a mandatory set of safety features within the next three years. Also, North America held the second-largest market share of XX%, thanks to the increasing number of passenger and commercial vehicles together with high disposable income. Automotive LiDAR sensors market in the Asia-Pacific is expected to fuel the growth, because of lucrative LiDAR in the region and increasing adoption of technology in the Asia-Pacific region.
The objective of the report is to present a comprehensive analysis of the Global Automotive LiDAR Sensor Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Automotive LiDAR Sensor Market dynamics, structure by analyzing the market segments and project the Global Automotive LiDAR Sensor Market size. Clear representation of competitive analysis of key players by application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive LiDAR Sensor Market make the report investor’s guide.
Scope of the Global Automotive LiDAR Sensor Market
Global Automotive LiDAR Sensor Market, By Application
• Semi-autonomous vehicle
• Autonomous vehicle
Global Automotive LiDAR Sensor Market, By Technology
• Solid state
Global Automotive LiDAR Sensor Market, By Location
• Bumper & grill
• Headlight & taillight
• Roof & upper pillars
• Windscreen & rear view mirror
Global Automotive LiDAR Sensor Market, By Vehicle Type
• Passenger vehicle
• Light commercial vehicle
• Heavy commercial vehicle
• Electric vehicle
Global Automotive LiDAR Sensor Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Automotive LiDAR Sensor Market
• Robert Bosch GmbH.
• Continental AG
• Denso Corp.
• First Sensor AG
• Hella KGaA Hueck & Co.
• Novariant, Inc.
• Phantom Intelligence
• Quanergy Systems, Inc.
• Velodyne LiDAR, Inc.
• Delphi Automotive LLP.
• ZF Friedrichshafen AG
• Infineon Technologies AG
• Texas Instruments Incorporated
• Innoviz technologies, Inc.
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