Press release
Automotive LiDAR Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Continental AG, Ibeo Automotive Systems GmbH, Innoviz Technologies Ltd., LeddarTech Inc., Luminar Technologies Inc
Automotive LiDAR Market Characteristics
The Business Research Company offers in-depth market insights through Automotive LiDAR Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive lidar market size has grown exponentially in recent years. It will grow from $0.61 billion in 2023 to $0.82 billion in 2024 at a compound annual growth rate (CAGR) of 35.2%. The growth in the historic period can be attributed to safety and autonomous driving, regulatory and safety standards, rise in electric and connected vehicles, competition and industry investments, cost reduction and scalability, mapping and infrastructure development..
The automotive lidar market size is expected to see exponential growth in the next few years. It will grow to $2.53 billion in 2028 at a compound annual growth rate (CAGR) of 32.5%. The growth in the forecast period can be attributed to autonomous vehicle development, market competition and investments, increasing consumer awareness and demand, electric and connected vehicle growth, infrastructure development and smart cities.. Major trends in the forecast period include advancements in solid-state lidar, integration in adas and autonomous vehicles, multi-sensor fusion, mass production and cost reduction, enhanced perception capabilities..
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Market Segmentation:
The automotive lidar market covered in this report is segmented -
1) By Product: Aerial, Mobile, Terrestrial/Static, Short-Range
2) By Technology: Solid-State LiDAR, Mechanical/Scanning LiDAR
3) By Vehicle Type: IC Engine Vehicles, Hybrid Electric Vehicles (HEVS), Plug-In Hybrid Electric Vehicles (PHEVS), Battery Electric Vehicles (BEVS)
4) By Components: Laser, GPS/GNSS Receiver, Camera, Inertial Navigation System, Micro Electro Mechanical System
5) By Application: Semi-Autonomous, Autonomous
Major Driver - Surging Demand For Semi-Autonomous And Fully Autonomous Vehicles Fuels Automotive Lidar Market Growth
Increasing demand for semi-autonomous and fully autonomous vehicles is significantly contributing to the growth of the automotive LiDAR market going forward. An autonomous or self-driving vehicle refers to a vehicle with environmental sensing capabilities and autonomous operation. An autonomous vehicle can sense its surroundings and operate without human intervention. LiDAR sensors are being used by self-driving cars to create extensive 3D maps for 360-degree vision and accurate data to aid with self-navigation and object detection. For instance, in June 2021, according to a report published by Gerber Injury Law, a US-based law firm, the self-driving vehicle industry is expected to grow by 16% every year and is expected to reach a worth of trillion dollars by 2025. Therefore, the increasing demand for semi-autonomous and fully autonomous vehicles drives the automotive LiDAR market.
Competitive Landscape:
Major companies operating in the automotive lidar market report are Continental AG, Ibeo Automotive Systems GmbH, Innoviz Technologies Ltd., LeddarTech Inc., Luminar Technologies Inc., Ouster Inc., Robert Bosch GmbH, Velodyne Lidar Inc., Denso Corporation, Leica Geosystems AG, Faro Technologies Inc., Mira Solutions Inc., Argo AI LLC, ZF Friedrichshafen AG, Quanergy Systems Inc., AEye Inc., Blackmore Sensors and Analytics Inc., Cepton Technologies Inc., Hesai Technology Co. Ltd., Suteng Innovation Technology Co. Ltd., Blickfeld GmbH, Innovusion Inc., Aeva Technologies Inc., Baraja Pty Ltd, XenomatiX NV, Benewake Co. Ltd., Phantom Intelligence Inc., CeoTronics AG, HoloMatic Technologies Co. Ltd., G&A Gipfel Auto Co. Ltd., LeiShen Intelligent Systems Co. Ltd. .
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Top Trend - Robosense Unveils Rs-Lidar-E1 With Array Transceiver Technology For Enhanced Autonomous Car Perception
Technological advancement is the key trend gaining popularity in the automotive LiDAR market. Major companies operating in the automotive LiDAR market are focusing on integrating new technologies such as array transceiver technology to improve the functioning of LiDAR systems and improve capacity in autonomous cars. For instance, in November 2022, RoboSense, a China-based intelligent LiDAR technology company launched its RS-LiDAR-E1, also known as E1, a flash solid-state LiDAR based on independently created chips and a new technological platform. Area array transceiver technology with application-specific designed chips is the foundation of E1, a new product platform. It has a straightforward bill of materials that contains no moving components and is intended to be factory-installed and for mass manufacturing. E1 would be working with partners to close the perception gap for smart driving and enhance the capacity of automated and autonomous cars to perceive in all scenarios.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive LiDAR Market Characteristics
3. Automotive LiDAR Market Trends And Strategies
4. Automotive LiDAR Market - Macro Economic Scenario
5. Automotive LiDAR Market Size And Growth
…..
27. Automotive LiDAR Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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