Automotive LiDAR Market Scope
LiDAR is the latest development in the automotive industry, it is an advancement of predecessors of object detection technology such as RADAR (Radio Detection and Ranging) and ultrasonic. Automotive LiDAR is an advance scanning surveying technology for an autonomous vehicle that is capable of delivering high-definition 3D projections of the surrounding.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Continental AG (Germany), Benewake (China), Garmin Ltd. (United States), GeoDigital International (Canada), Infineon Technologies (Germany), Innoviz Technologies (Israel), LeddarTech (Canada), Osram Licht AG (Germany), Phantom Intelligence (Canada), Princeton Lightwave Inc. (United States) and Velodyne Lidar (United States) |
CAGR | % |
Automotive LiDAR is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Automotive LiDAR market throughout the predicted period.
Continental AG (Germany), Benewake (China), Garmin Ltd. (United States), GeoDigital International (Canada), Infineon Technologies (Germany), Innoviz Technologies (Israel), LeddarTech (Canada), Osram Licht AG (Germany), Phantom Intelligence (Canada), Princeton Lightwave Inc. (United States) and Velodyne Lidar (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Automotive LiDAR market by Type , by Application (Advanced Driver Assistance System (ADAS), Automatic Emergency Braking and Adaptive Cruise Control) and Region with country level break-up.
On the basis of geography, the market of Automotive LiDAR has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In January 2020, Robert Bosch GmbH introduced a long-range LiDAR sensor for autonomous vehicles, to measure the distance from target objects, by illuminating them with laser light and measuring the reflected pulses. In March 2019, Alphabet Inc.’s self-driving car unit, Waymo LLC, announced that it has entered the automotive sensor business and has begun to sell laser-mapping sensors to other companies, which are to be used in its driverless vehicles. Moreover, the development was intended to cut the cost of manufacturing self-driving vehicles.
Influencing Trend:
Increase in developments of semi-autonomous & autonomous vehicle
Market Growth Drivers:
Growing Number of Automated Vehicles, The decrease in Manufacturing Cost of LiDAR systems and Rising investment in AutoTech
Challenges:
Inaccurate Outputs in Adverse Weather Conditions and Complex Design and Development of LiDAR Safety Systems
Restraints:
Lack of Awareness About the Benefits of LiDAR Systems and High Cost Associated with The Use of Expensive Components in These Systems, Such as Laser Scanners, a Navigation System, and High-Resolution 3D Cameras Systems
Opportunities:
Increasing Number of Autonomous, and Connected Cars
Key Target Audience
Automotive LiDAR manufacturers and other stakeholders, Government bodies such as regulating authorities and policymakers, Organizations, forums and alliances related to automotive LiDAR market and Market research and consulting firms