Latest market study on “Automotive LiDAR Market to 2027 by Type (Solid State and Flash); Component (Photodetectors, Laser, Integrated Circuit, Optical Elements, and Others); and Application (Autonomous Shuttle, Robotaxis, and Passenger cars) – Global Analysis and Forecast”, the automotive LiDAR market is estimated to reach US$ 4,348.09 Mn by 2027 from US$ 415.10 Mn in 2018. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
In the new era of global automotive industry, the demand for numerous vehicle electronics is significantly increasing. This has led the automotive industry to witness the innovation and emergence of technologies such as cameras, thin-film transistors, and clusters among others. Cameras such as lane departure warning camera, reverse parking camera, and front camera among others are rapidly growing in all segments of vehicles, which is driving the market in the present scenario. The notable adoption by the automotive OEMs is paving the future path of electronics in the automotive industry. Apart from the above mentioned electronics, there are other electronics embedded with advanced technologies. Power steering, heat control, tire pressure monitoring systems (TPMS), infotainment, and anti-lock braking system among others. These electronic components comprise of several semiconductor products, which includes sensors, actuators, and micro-controllers among others. The advancements in these systems is extensively driving the market for vehicle electronics, which in turn is boosting the automotive LiDAR market in the present market status.
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Leading Key Market Players Mentioned in the Report:- Continental AG, Denso Corporation, Innoviz Technologies, Ltd., Luminar Technologies, Inc., Omron Corporation, Panasonic Corporation, Trilumina Corporation, Valeo SA, Velodyne LiDAR, Inc., and Xenomatix N.V. among others. Several other companies are also offering these LiDAR products and solutions to automotive industry which is facilitating the market to propel over the years.
The companies in the market are expanding substantially. For instance, in 2018, Innoviz Established Presence in Four New Regions and enhanced manufacturing abilities, aligning with the company’s mission to provide LiDAR solutions that are available and affordable at a massive scale. Innoviz has expanded globally with the opening of offices in four new countries including the U.S., Germany, China and Japan. Further, in the same year, Continental and EasyMile inaugurated new autonomous driving R&D team in Singapore. The new joint team’s work focus was to develop new technology centered on perception and deep learning and to prepare autonomous vehicle (AV) technology for tests towards safe deployments on private grounds and public roads in the Singaporean metro area.
The report segments the global Automotive LiDAR Market as follows:
Global Automotive LiDAR Market – By Type
Automotive LiDAR Market – By Component
Global Automotive LiDAR Market – By Application
The global market for automotive LiDAR market is segmented on various parameters such as type, component, product, application, and geography. Based on type, solid-state LiDAR segment dominate the automotive LiDAR market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. On the basis of component, photodetectors segment is expected to witness a significant growth rate in the coming years. Further, based on application, passenger cars led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. Key players operating in the market are introducing attractive solutions and are partnering with the small as well as large companies which is helping them to gain customer traction.
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