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Automotive LiDAR Sensors Market By Product Type (Mechanical LiDAR, Solid-state LiDAR), By Application (Semi-autonomous Vehicle, Autonomous Vehicle) - Growth, Future Prospects & Competitive Analysis, 2019 – 2027

 The global automotive LiDAR sensors market is expected to reach US$ 919.6 million with a CAGR of 19.87% during the forecast period from 2019 to 2027. Automotive LiDAR sensors are used in semi-autonomous and autonomous vehicles to enhance their navigation capabilities. LiDAR is a sensing method that creates a 3D map of the surrounding area by detecting people and objects around the vehicle. It assesses the speed and route at which these objects are moving.

Using this information, an onboard computer system can determine the safest way for the vehicle to move forward. Integration of state-of-the-art systems such as collision warning and avoidance units, lane-keeping units, and departure warning units, coupled with increasing investments in autonomous vehicles by established tech giants such as Apple Inc., Google Inc., and Innoviz Technologies, Ltd., is driving the growth of the automotive LiDAR sensors market worldwide. For instance, in June 2019, Innoviz Technologies, Ltd. raised US$ 170 million in its Series C funding round, which will strengthen its position in the LiDAR market.

Today, people are inclined towards more comfort, safety, and technology in their vehicles, due to which they are switching to technologically advanced semi-autonomous and autonomous vehicles. These vehicles comprise advanced driver-assistance systems (ADAS), which provide blind spot detection, night vision, cross-traffic warning, etc., aiding the driver in decision-making and offering a relaxed driving experience.

Overall, the combination of these advanced technologies will help eliminate accidents caused by human error. As a result, the growing demand for semi-autonomous and autonomous vehicles is projected to facilitate the growth of the automotive LiDAR sensor market in the years to come.

Market Snapshot

Solid-state LiDAR sensors accounted for the largest market share in 2018,

Solid-state LiDAR sensors are among the most advanced types of LiDAR sensors. The segment captured the largest market share in 2018 and is expected to reign during the forecast period from 2018 to 2026. Being built on a microchip, these sensors are compact in size and have no moving parts like a rotating mirror or an optical rotating encoder, which are present in mechanical LiDAR sensors. As a result, solid-state LiDAR sensors are more resilient to vibration. Solid-state LiDAR sensors are lightweight and more compact as compared to mechanical LiDAR sensors. Where mechanical LiDAR sensors are required to be physically moved to change their direction, solid-state LiDAR sensors are capable of adjusting their direction by changing their pattern of optical emission to map their surroundings.

This makes it attractive to car designers as it eliminates the need for bulky spinning LiDAR sensors mounted on a vehicle. In terms of cost, solid-state LiDAR sensors are cost-effective when compared with mechanical LiDAR sensors. Therefore, the cost of a vehicle that comprises solid-state LiDAR sensors is expected to be lower than that of a vehicle with mechanical LiDAR sensors. As a result, the growing preference for solid-state LiDAR sensors across the automotive industry is expected to drive segment growth in the years to come.

North America Garnered the Largest Market Share in 2018

The North American region is home to many LiDAR manufacturing companies like Velodyne Lidar, Luminar Technologies, Inc., Ouster, Inc., Quanergy Systems, Inc., LeddarTech, etc. These well-established companies are heavily investing in autonomous technologies to grab a large piece of the market. Also, the governments of countries in this region have strict regulations for vehicle safety. In the U.S. and Canada, it is mandatory to install electronic stability control (ESC), forward collision warning, and an automatic emergency braking system (AEB) in vehicles. Also, awareness among people about road safety and vehicle performance is driving the market for automotive LiDAR sensors in North America.

Competitive Insights

Major players profiled in the automotive LiDAR sensors market study include LeddarTech, Velodyne Lidar, Quanergy Systems, Inc., Luminar Technologies, Inc., Innoviz Technologies, Ltd., Waymo LLC, Ibeo Automotive Systems GmbH, Mobileye, Valeo S.A., Continental AG, Oryx Vision, Ouster, Inc., and TriLumina.

These companies are partnering with other automotive manufacturing companies to gain the upper hand in the market. For instance, in April 2018, Innoviz Technologies, Ltd. announced its partnership with Magna International Inc. to provide its solid-state LiDAR to the BMW Group. Additionally, in June 2018, Volvo Tech Funds invested in Luminar Technologies, Inc. to develop LiDAR sensors and test them on Volvo cars.

Historical and Forecast Period

The research report presents the analysis of each segment from 2017 to 2027considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The Automotive LiDAR Sensors Market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global automotive LiDAR sensors market based on product type, application, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the market size of the automotive LiDAR sensors market in 2017, and what is the forecast up to 2027?
  • What are the key factors driving the global automotive LiDAR sensor market?
  • What are the key market trends and high-growth opportunities observed in the automotive LiDAR sensor market?
  • What are the drivers of the automotive LiDAR sensor market?
  • Which is the largest regional market for automotive LiDAR sensors?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market's growth? Why?
  • Which players are leading the automotive LiDAR sensor market?
  • What are the sustainability strategies adopted by the key players operating in the market?

Frequently Asked Question:

The market for Automotive Lidar Sensors Market is expected to reach USD$ 919.6 Mn in 2027.

The Automotive Lidar Sensors Market is expected to see significant CAGR growth over the coming years, at 19.87%.

The report is forecasted from 2019 -2027.

The base year of this report is 2018.

Luminar Technologies, Inc., Innoviz Technologies, Ltd., Waymo LLC, Ibeo Automotive Systems GmbH, Mobileye. are some of the major players in the global market.

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Godaddy
Published Date:  Jul 2019
Category:  Technology & Media
Report ID:   59750
Report Format:   PDF
Pages:   120
Rating:    4.5 (58)
Delivery Time: 24 Hours to 48 Hours   
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