PUBLISHER: The Business Research Company | PRODUCT CODE: 1270652
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270652
“Automotive LiDAR Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive lidar market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive lidar ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive lidar market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the automotive LiDAR market 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, and Vaisala
The global automotive LiDAR market is expected to grow from $0.45 billion in 2022 to $0.61 billion in 2023 at a compound annual growth rate (CAGR) of 34.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive LiDAR market is expected to reach $1.95 billion in 2027 at a CAGR of 33.7%.
The automotive LiDAR market consists of revenues earned by entities by providing 2D automotive LiDAR and 3D automotive LiDAR and related annotation technological services. The market value includes the value of related goods sold by the service provider or included within the service offering. The automotive LiDAR market also includes sales of automotive components such as automotive gimbaling systems and strap-down systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Automotive LiDAR is a technique for sensing that locates objects and gauges their distances. The method involves illuminating a target with an optical pulse and analyzing the properties of the returned signal that is reflected. The optical pulse's width can be anything between a few nanoseconds and many microseconds.
Asia-Pacific was the largest region in the automotive LiDAR market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of automotive LiDAR products are aerial, mobile, terrestrial or static, and short-range. Aerial LiDAR refers to an airborne mapping system that uses calibrated laser returns from the surface of the earth reflected by an overflying GPS-monitored aircraft outfitted with onboard positioning and IMU sensors. Its components are laser, GPS/GNSS receiver, camera, inertial navigation system, micro electro mechanical system with various technology including solid-state LiDAR and mechanical or scanning LiDAR for vehicles such as IC engine vehicles, hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). They are used in ADAS and autonomous cars.
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.
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.
In October 2022, Velodyne Lidar Inc., a US-based LiDAR technology company acquired Bluecity Holdings Limited for an undisclosed amount. Through this acquisition, Velodyne Lidar Inc. would be able to deliver industry-leading AI-powered autonomous vision solutions to its customer. Bluecity Holdings Limited is a US-based startup focusing on AI LiDAR-based solutions software for resolving safety, transportation, and infrastructure problems.
The countries covered in the automotive LiDAR market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive LiDAR market research report is one of a series of new reports from The Business Research Company that provides automotive LiDAR market statistics, including automotive LiDAR industry global market size, regional shares, competitors with an automotive LiDAR market share, detailed automotive LiDAR market segments, market trends and opportunities, and any further data you may need to thrive in the automotive LiDAR industry. This automotive LiDAR market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.