The Global Automotive LiDAR market is currently in the evolving stage. The market growth is primarily driven by the increasing focus of the OEMs on Advanced Driver Assistance Systems (ADAS) and the autonomous cars.
With the advent of globalization and digitalization across the world, the LiDAR market is anticipated to grow at a significant rate. Also, due to a rising demand for intelligent transportation systems and connected cars, the LiDAR market is anticipated to positively grow at a healthy rate in the coming future.
Many companies are actively investing in the research and development of LiDARs. For instance, LeddarTech launched 2D and 3D high-resolution LiDAR solutions for autonomous vehicles in 2016. The sensors have the detection range of more than 300 m for vehicles.
According to the MarkNtel Advisors’ research report titled “Global Automotive LiDAR Market Analysis, 2020”, the Global Automotive LiDAR market is expected to grow at a CAGR of around 31% during 2020-25. The increasing traction towards Advanced Driver Assistance System (ADAS) is expected to boost the demand for automotive LiDAR across the globe. In addition, the government regulations imposed to enhance the vehicle security is anticipated to strongly contribute to the growth of the Global automotive LiDAR market in the forthcoming period.
Segment-Wise Outlook
China is currently the largest contributor of automotive LiDARs in Asia-Pacific due to a large-scale presence of raw material and OEMs. Also, growing R&D activities in autonomous vehicles and intelligent transport systems are emerging as the key factor boosting the LiDAR market in China. Germany remained at the forefront in European LiDAR market in 2019.
Solid-state automotive LiDAR dominated the global market in 2019 owing to its offerings of a higher resolution and reasonably priced solutions. Mechanical automotive LiDARs are fragile and expensive and can cause accidents during incorporation in vehicles.
LiDARs for Advanced Driver Assistance Systems is anticipated to lead the global market by accounting for the largest share during 2020-25, due to extensive research and development activities by manufacturers for deploying LiDARs in autonomous vehicles and connected cars.
According to the MarkNtel Advisors, the major leading players are Continental AG, Delphi Automotive, Innoviz Technologies, Velodyne, Valeo, Trilumina, Texas Instruments Incorporated, Quanergy System, Leddartech, and Luminar Technologies, Inc. among others.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What would be the growth rate or CAGR of Global Automotive LiDAR Market during 2020-25?
A. The market size of Global Automotive LiDAR Market during 2020-25 is forecast to be around 31%.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that North America will dominate the market with majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating in Global Automotive LiDAR Market?
A. Continental AG, Delphi Automotive, Innoviz Technologies, Velodyne, Valeo, Trilumina, Texas Instruments Incorporated, Quanergy System, Leddartech, Luminar Technologies, Inc. are few of the leading players in the Global Automotive LiDAR Market.
Q. Does the report scope cover Global Automotive LiDAR application and region wise market statistics also?
A. Yes, the scope of the report encompass detailed Global Automotive LiDAR Application and region wise statistics such as market size, market segmentation based on various subcategories.
Q. Which technology segment would emerge as an opportunity area for players in Global Automotive LiDAR Market?
A. Solid-state automotive LiDAR segment continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Automotive LiDAR Market.
