DUBLIN, June 15, 2023 /PRNewswire/ — The “Automotive LiDAR System-on-Chip (SoC) Market – A Global and Regional Analysis: Focus on Vehicle Type, Propulsion Type, Level of Autonomy, Range Type, Perception Type, and Country-Level Analysis – Analysis and Forecast, 2024-2033” report has been added to ResearchAndMarkets.com’s offering.
The automotive LiDAR system-on-chip (SoC) market is expected to be valued at $29.3 million in 2024, which is anticipated to grow at a CAGR of 24.30% and reach $207.5 million by 2033.
The growth in the automotive LiDAR system-on-chip (SoC) market is expected to be driven by technological advancements in autonomous vehicles and extensive use of LiDARs in highly automated vehicles, tremendous advancement in automotive LiDAR research and development (R&D) to improve the features of the LiDAR system, and an anticipated decline in LiDAR manufacturing costs after the start of mass production.
Market Lifecycle Stage
Automotive LiDAR system-on-chip (SoC) is a crucial component in the development of autonomous vehicles as well as for the success of vehicle suppliers and manufacturers. One of the main factors influencing the growth of the automotive LiDAR system-on-chip industries for autonomous vehicles is the increased need for their safety and efficiency.
The autonomous vehicle sector must also adhere to stringent restrictions as well as national and international safety mandates. Autonomous vehicle development is expected to increase over the coming years, creating lucrative opportunities for those manufacturing LiDAR system-on-chip systems for these vehicles.
The automotive LiDAR system-on-chip (SoC) market is in the growth phase. The implementation of automotive LiDAR system-on-chip is increasing in semi-autonomous and fully autonomous vehicles. As a result, the automotive LiDAR system-on-chip (SoC) market is expected to flourish in the forecast period 2024-2033.
Industry Impacts
Growing autonomous vehicle demand in developing markets, stringent regulatory requirements imposed by governments on the autonomous vehicle industry, and consistently increasing instances of vehicle recall due to safety failure are all driving this market’s expansion.
Furthermore, the increasing introduction of autonomous cars, rising customer perception of product quality and safety, and incorporation of technology advances with the rising adoption of safety devices in the autonomous vehicle industry are all providing opportunities for market players to expand.
Market Segmentation
The automotive LiDAR system-on-chip (SoC) market based on the vehicle type segment is expected to be dominated by the passenger cars segment throughout the forecast period 2024-2033.
The automotive LiDAR system-on-chip (SoC) market based on the propulsion type is expected to be dominated by the electric vehicle segment throughout the forecast period.
The automotive LiDAR system-on-chip (SoC) market based on the level of autonomy segment is expected to be dominated by the semi-autonomous segment throughout the forecast period.
Based on range type, the medium-to-long range LiDAR segment is expected to dominate the market owing to its high resolution, long-range, and broad field of view.
Based on perception type, the 4D segment is one of the fastest-growing segments due to its high performance and reasonable price. However, the 2D and 3D segment is likely to dominate the market, offering a wide scope of development in the forecast period.
North America is home to several automotive LiDAR system-on-chip manufacturers as well as automotive LiDAR manufacturers. The region is expected to dominate the automotive LiDAR system-on-chip (SoC) market during the forecast period.
Recent Developments in the Automotive LiDAR System-on-Chip (SoC) Market
In November 2022, Aeva Inc. expanded its presence internationally with the hiring of new teams in Germany, India, and Thailand, as well as the appointment of industry veteran Clement Kong to oversee sales in the Asia-Pacific region. The new teams will assist in sales, technological development, and production to hasten the advancement of Aeva Inc.’s 4D LiDAR’s next-generation technology and strengthen customer relations in the Europe and Asia-Pacific regions.
In May 2022, SiLC Technologies, Inc. collaborated with AutoX Inc., which is the leader in China’s robo-taxi market, to deploy SiLC’s Eyeonic Vision Sensor for its fleet of robotic taxis.
In December 2021, indie Semiconductor, Inc. launched the Surya LiDAR system-on-a-chip (SoC) that provides advanced driver assistance systems and autonomous driving features.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The competitive landscape of the automotive LiDAR system-on-chip (SoC) market includes different strategies undertaken by automotive LiDAR system-on-chip manufacturers to gain market presence. Some strategies adopted by them include new product launch and development activities, market development activities, partnerships, collaborations, joint ventures, and mergers and acquisitions.
Among all the strategies adopted, product development activities have dominated the competitive landscape and are the most widely adopted strategies among manufacturers.
Market Dynamics
Business Opportunities
Growing Trend for the Development of Autonomous Vehicles
Manufacturing LiDAR System-on-Chip at Scale
Deployment of LiDAR System-on-Chip in Other Applications such as Robotics and Industrial Automation
Business Drivers
Rapid Technological Advancement in LiDAR in the Automotive Industry
Surge in Investments and Funding in LiDAR System-on-Chip Manufacturing Startups for R&D Activities
Cost-Effectiveness of LiDAR System-on-Chip
Growing Demand for the Miniaturization of Products
Trends: Current and Future
4D LiDAR Technology
Ongoing Efforts by the Industry Players
LiDAR System-on-Chip with On-Chip Signal Processing
Business Restraints
Growing Complexity in Integrating All the Components on a Chip Due to Lack of Knowledge
Constant Review of Regulatory Policies on Standardization of Chips
Semiconductor Shortage Effect
Business Strategies
Product Development
Market Development
Corporate Strategies
Mergers and Acquisitions
Partnerships, Joint Ventures, Collaborations, and Alliances
Ecosystem/Ongoing Programs
Consortiums, Associations, and Regulatory Bodies
Government Initiatives
Programs by Research Institutions and Universities
Key Patent Mapping
Supply Chain Network/MAP
LiDAR System-on-Chip (SoC) Architecture and Fabrication
Software and Hardware Systems for LiDAR System-on-Chip (SoC) Industry
Emerging Applications in LiDAR System-on-Chip (SoC) Industry
Industrial Automation
Robotics
Others
Measurement Process in LiDAR System-on-Chip (SoC) Industry
Time of Flight (ToF)
Frequency Modulated Continuous Wave (FMCW)
Impact of COVID-19 on the Industry
Key Companies Profiled
Automotive LiDAR System-on-Chip (SoC) Manufacturers
indie Semiconductor, Inc.
Mobileye
RoboSense
Ouster, Inc.
Aeva Inc.
SiLC Technologies, Inc.
Scantinel
Voyant Photonics, Inc.
Automotive LiDAR Manufacturers
Quaenergy Systems, Inc.
Velodyne Lidar, Inc.
Innoviz Technologies Ltd
Luminar Technologies, Inc.
Autonomous Vehicle Manufacturers
General Motors
Volkswagen AG
Ford Motor Company
BMW Group
For more information about this report visit https://www.researchandmarkets.com/r/uhrav7
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