26-Aug-2019 | Zion Market Research
Zion Market Research has published a new report titled “Automotive LiDAR Market By Application (Automatic Emergency Braking, Semi-Autonomous Cars, and Others), By Technology (Solid-State LiDAR and Mechanical/Scanning LiDAR), By Location (Roof, Headlights & Taillights, Bumper & Grill, and Others), By Image Projection (2D and 3D), and By Component (Laser, Inertial Navigation System, Camera & GPS/GNSS Receiver, and Micro Electro Mechanical System): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global automotive LiDAR market was USD 128 million in 2018 and is expected to reach approximately USD 731 million by 2025, at a CAGR of slightly above 28.2% between 2019 and 2025.
Automotive light detection and ranging (LiDAR), also known as laser detection and ranging (LADAR), is a method to sense and detect objects and map the object’s distance. The automotive LiDAR market will grow notably in the years ahead, owing to the increasing R&D activities by various automotive companies to improve vehicle performance, reduce fuel consumption, offer better comfort, and much safer driving experience. Due to the ever-increasing population, the demand for vehicles is surging globally. Increasing partnerships and collaborations between companies to jointly manufacture vehicle combining their respective expertise along with semiconductor manufacturers is fuelling the automotive sector, which, in turn, is driving the automotive LiDAR market. Moreover, some players in the automotive LiDAR market are intensively focusing on strategizing to supplement their product capabilities and expand their geographical presence globally. This technology has proven its accuracy and reliability, by its usage in various automotive applications and consumer electronics. However, the high vehicle cost due to the addition of advanced sensors and low durability of the existing LiDAR technology may curtail the automotive LiDAR market growth.
Browse the full “Automotive LiDAR Market By Application (Automatic Emergency Braking, Semi-Autonomous Cars, and Others), By Technology (Solid-State LiDAR and Mechanical/Scanning LiDAR), By Location (Roof, Headlights & Taillights, Bumper & Grill, and Others), By Image Projection (2D and 3D), and By Component (Laser, Inertial Navigation System, Camera & GPS/GNSS Receiver, and Micro Electro Mechanical System): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/automotive-lidar-market
By technology, the automotive LiDAR market is fragmented into solid-state LiDAR and mechanical/scanning LiDAR. Solid-state LiDAR is faster in comparison to traditional survey methods and static laser scanning. Whether the mobile system is mounted on railroad, high-rail, truck, car, or a backpack, the rate of data captured is astonishing by solid-state LiDAR. By application, the market for automotive LiDAR includes automatic emergency braking (adaptive cruise control and autonomous cars), semi-autonomous cars, and others. The automatic emergency braking system segment holds a notable share in the automotive LiDAR market, owing to its ability to enable adaptive cruise control and lane-keeping. Additionally, automatic acceleration and braking mechanism without human intervention is anticipated to further fuel this market growth in the future.
The North American automotive LiDAR market is projected to grow at a substantial rate, owing to the technologically advanced countries like Canada and the U.S. The governments of North American countries are majorly investing in enhancing their automobile sectors to produce safer and securer automobiles. Moreover, the increased R&D spending on automobiles by the regional governments is also supporting the automotive LiDAR market growth. The Asia Pacific will hold a significant share in the automotive LiDAR market globally, owing to the various safety measures taken by the government, positive economic growth, and a rising number of provisions for road safety.
Some noticeable players of the automotive LiDAR market are Denso Corporation, Continental, Luminar Technologies, Innoviz Technologies, Panasonic Corporation, Omron Corporation, Valeo, Trilumina Corporation, Xenomatix, and Velodyne LiDAR.
This report segments the global automotive LiDAR market into:
Global Automotive LiDAR Market: Application Analysis
Global Automotive LiDAR Market: Technology Analysis
Global Automotive LiDAR Market: Location Analysis
Global Automotive LiDAR Market: Image Projection Analysis
Global Automotive LiDAR Market: Component Analysis
Global Automotive LiDAR Market: Regional Analysis
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