The Global Automotive LiDAR Market was worth US$ 300 million in 2019 and expected to grow at a promising CAGR of 21% through 2030.
Focused research and development towards development of autonomous vehicles and associated technologies, increased investment in development of compact LiDAR sensors, and suspension in automotive manufacturing across the globe are the key factors influencing the growth of the global automotive LiDAR market. Automotive LiDAR or Light Detection and Ranging is an advanced remote sensing technology used for detection of obstacles in pathway and calculating distance between an obstacle and vehicle with the help of light.
The increased investment in development of autonomous vehicles has fueled the competition in the development of advanced and compact LiDAR sensors to gain competitive advantage in the global market. Majority of the existing LiDAR systems are large in size and need to be deployed on top of the vehicles. This has fueled the competition in development of compact automotive LiDAR systems to facilitate deployment inside a vehicle. Increasing investment in advanced automotive electronics and semiconductor devices used in automobiles is anticipated to fuel the development for automotive LiDAR in coming years.
However, the automotive industry has witnessed reduced demand during past couple of years and is anticipated to witness steady growth with decreasing year on year sales across major countries in coming years. Disruption in production due top COVID-19 is anticipated to impede the growth of the global automotive LiDAR market. However, the market is anticipated to recover during coming years with ease in lockdown restrictions across major countries.
Europe contributed a dominating share to the global automotive LiDAR market in 2019 and is anticipated to be a dominating region throughout the forecast period owing to the presence of leading LiDAR manufacturers across the region. Asia Pacific contributed a prominent share to the global automotive LiDAR market in 2019 and is anticipated to be the fastest growing segment during the forecast period owing to strong demand from expanding automotive industry across major countries.
The Asia Pacific automotive industry is anticipated to witness prominent growth in coming years with leading automotive manufacturers realigning their supply chain network with a major focus on diversifying business operations across the region and global destinations.
Automotive LiDAR Market Share Analysis, by Geography (2022)
The report titled “Automotive LiDAR Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global automotive LiDAR market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global automotive LiDAR market is segmented on the basis of product type, component, imaging type, technology, vehicle type, application, and geography. Based on product type, the global automotive LiDAR market is segmented into terrestrial/static, aerial, mobile, and short-range. Based on component, the automotive LiDAR market is segmented into laser, inertial navigation system, camera and GPS/GNSS receiver, micro electro mechanical system, and others. Based on imaging type, the global automotive LiDAR market is segmented into 2-dimensional and 3-dimensional imaging. Based on technology, the global automotive LiDAR market is segmented into solid state and mechanical/scanning. Based on power, the global automotive LiDAR market is segmented into internal combustion engine (ICE), battery electric vehicle (BEV), and hybrid electric vehicle (HEV). Based on vehicle type, the global automotive LiDAR market is segmented into semi-autonomous vehicles and autonomous vehicles. Based on geography, the global automotive LiDAR market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on automotive LiDAR. Further, market share of prominent companies in the global automotive lidar market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the automotive LiDAR companies.
The global automotive LiDAR market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the automotive LiDAR business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global automotive LiDAR market.
Major players active in the global automotive LiDAR market include Aptiv PLC, Continental AG, First Sensor AG, Infineon Technologies AG, Innoviz Technologies, Ltd., Leddartech, Inc., Quanergy Systems, Inc., Texas Instruments, Inc., Velodyne LiDAR, Inc., and ZF Friedrichshafen AG.
By Product Type
By component
By Imaging Type
By Technology
By Power
By Vehicle Type
By Geography
The global market for Automotive LiDAR will most likely expand at over 21% CAGR through 2030.
Focused research and development towards development of autonomous vehicles and associated technologies, and suspension in automotive manufacturing across the globe are the key factors influencing the growth of the global automotive LiDAR market.
Asia Pacific contributed a prominent share to the global automotive LiDAR market. The Asia Pacific automotive industry is anticipated to witness prominent growth in coming years with leading automotive manufacturers realigning their supply chain network with a major focus on diversifying business operations across the region and global destinations.
The global Automotive LiDAR market segmented on the basis of product type, component, imaging type, technology, vehicle type, application, and geography.
Copyright © 2024 Same Page Management Consulting Pvt. Ltd. (insightSLICE) | All Rights Reserved