DUBLIN, March 6, 2023 /PRNewswire/ — The “Global Automotive LiDAR Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Application, Technology, Location, Range, Vehicle Type and Region” report has been added to ResearchAndMarkets.com’s offering.
According to this analysis, the Global Automotive LiDAR Market is estimated to have grown to a size of ~US$500 million in 2022 from ~US$200 million in 2017.
The market is expected to grow further to a size of ~US$1,500 million by 2028 at a CAGR of ~20% for the forecasted period of 2022-2028, owing to the consistent rise in the adoption of semi-autonomous and autonomous vehicles aided by encouraging government regulations/policies, superior detection capabilities and technological advancements achieved by the automotive LIDAR segment, increasing awareness to vehicle safety regulations and the growing presence of ADAS or Advanced Driver Assistance Systems.
Companies Mentioned
- Continental AG
- ZF Friedrichshafen AG
- Infineon Technologies AG
- Velodyne LIDAR
- LeddarTech
- First Sensor AG
- Quanergy Systems
- Innoviz Technologies
- Robert Bosch GMBH
- Valeo
- Luminar Technologies
- Aeva
- Ouster
- Cepton
- RoboSense
According to a research study, cited by the Ohio University website, nearly 12 million autonomous and 18 million semi-autonomous vehicles will be sold globally by 2035.
Apart from these vehicles, vehicles with some sort of autonomous features will occupy one-fourth of the market within the same time frame.
The adoption of autonomous/semi-autonomous vehicles could be across a variety of areas/industries, including general transport, such as trucking fleets, taxi services, school and transit bus services, and the more commercial areas of mining, construction, farming, and manufacturing. There are several benefits for these application areas/industries to adopt autonomous vehicles.
These vehicles can guarantee safety in some of the most challenging/hazardous work areas, save labor costs and time, and reduce carbon emissions by a significant margin, ensuring optimized driving. Automotive LIDARs are used across both segments of semi-autonomous and autonomous vehicles. Growth in the adoption of these types of vehicles would boost the LiDAR Market notably.
The Automotive LiDAR Market segment has achieved significant technological advancements over the years. LIDARs are capable of collimating laser light, including its short wavelength within the range of 905-1,550 nm. It is also possible to achieve spatial resolution on the order of 0.1 degrees with LIDAR.
All these results in best-in-class spatial resolution features. Mechanical LIDAR systems offer the widest field of view among all Advanced Driver Assistance Systems. While technological advancements have made LIDARs highly efficient, their prices have also reduced significantly. A report published by Texas Instruments in May 2020 predicted the cost of a LIDAR module to come down to less than US$200 by 2022.
LIDARs are often not as efficient as they’re expected to be when the weather conditions are adverse. A scientific study on the influence of weather conditions on automotive LIDAR sensors indicates a significant impairment in the perception of objects and a notable reduction in detection range when there is fog or rain. These impairments may lead to misclassifications and wrong detections and are to be solved effectively for the market to grow at a faster pace. LiDAR systems are also vulnerable to ambient light conditions.
Like many other industries, the supply chain in the market of automotive components was also disrupted during the COVID-19 pandemic. Exports of parts and components from China were disrupted and so were manufacturing in Europe and assembling activities in the North American region. However, the restrictions have now been lifted and the possibility of reducing carbon emissions through autonomous cars has helped the market to get back on track.
Key Topics Covered:
1. Executive Summary
2. Market Overview and Key Trends Impacting Growth
2.1 Global Automotive LiDAR Market Taxonomy
2.2 Industry Value Chain
2.3 The Ecosystem of Major Entities in the Global Automotive LiDAR Market
2.4 Government Regulations & Developments
2.5 Key Growth Drivers & Challenges Impacting the Market
2.6 COVID-19 Impact on the Global Automotive LiDAR Market
2.7 Total Automotive LiDAR Market Historic Growth by Segment Type, 2017-2021
2.8 Total Global Automotive LiDAR Market Historic Growth and Forecast, 2017-2028
2.9 Key Takeaways
3. Global – Market Segmentation by Application, Historic Growth, Outlook & Forecasts
3.1 Market Definition – Segmentation by Application
3.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Application, 2017-2028
3.2.1 Semi-Autonomous Vehicles
3.2.2 Autonomous Vehicles
3.3 Key Takeaways from Market Segmentation by Application
4. Global – Market Segmentation by Technology, Historic Growth, Outlook & Forecasts
4.1 Market Definition – Segmentation by Technology
4.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Technology, 2017-2028
4.2.1 Solid State
4.2.2 Mechanical/Scanning
4.3 Key Takeaways from Market Segmentation by Technology
5. Global – Market Segmentation by Location, Historic Growth, Outlook & Forecasts
5.1 Market Definition – Segmentation by Location
5.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Location, 2017-2028
5.2.1 Roof & Upper Pillars
5.2.2 Headlight & Taillight
5.2.3 Bumper & Grill
5.2.4 Others
5.3 Key Takeaways from Market Segmentation by Location
6. Global – Market Segmentation by Range, Historic Growth, Outlook & Forecasts
6.1 Market Definition – Segmentation by Range
6.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Range, 2017-2028
6.2.1 Short & Mid-Range
6.2.2 Long Range
6.3 Key Takeaways from Market Segmentation by Range
7. Global – Market Segmentation by Vehicle Type, Historic Growth, Outlook & Forecasts
7.1 Market Definition – Segmentation by Vehicle Type
7.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Vehicle Type, 2017-2028
7.2.1 IC Engine Vehicle
7.2.2 Hybrid Electric Vehicle
7.2.3 Plug-in Hybrid Electric Vehicle
7.2.4 Battery Electric Vehicle
7.3 Key Takeaways from Market Segmentation by Vehicle Type
8. Industry/Competition Analysis – Competitive Landscape
9. Key Competitor Profiles (Company Overview, Product Offerings, SWOT Analysis)
10. Geographic Analysis & Major Countries Market Historic Growth, Outlook, and Forecasts
11. Industry Expert’s Opinions/Perspectives
12. Analyst Recommendation
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/4ihtrh
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