“LiDAR for Automotive Market by Technology (Mechanical and Solid State), Application (Semi-Autonomous and Autonomous), Location (Bumper and Grill, Headlight and Taillight, and Roof and Upper Pillar), Image Type (2D and 3D), and Vehicle Type – Global Forecast to 2030″, The LiDAR for automotive market is expected to grow from an estimated USD 735.0 Million in 2025 to a projected USD 2,557.3 Million by 2030, at a CAGR of 28.32%, during the forecast period. The LiDAR market for automotive division is expected to register high growth rate due to its technological superiority over other available sensors in the automotive industry, such as RADAR and cameras. Factors such as the rising popularity of autonomous vehicles, government regulations for vehicle safety, and an increase in the adoption of ADAS technology by OEMs are driving the market for LiDAR.
Major Market Developments
- In January 2017, Continental AG introduced High-Resolution 3D Flash LiDAR, a new LiDAR solution specifically for automobiles. With this introduction, the company is focusing on enhancing the Advanced Driver Assistance Systems and autonomous vehicle.
- In January 2017, Innoviz Technologies Ltd. developed its first high definition solid-state LiDAR (HD-SSL) InnovizOne and introduced it in CES2017 held in Las Vegas. InnovizOne enables smart and advance features of 3D remote sensing. This device is highly accurate in processing real-time 3D images of the vehicle surrounding.
- In December 2016, LeddarTech launched innovative 2D and 3D high-resolution LiDAR solutions for autonomous driving applications. This LiDAR system offered a resolution of up to 512×64 on a field of view of 120×20 degrees and had a detection range of more than 200 m for pedestrians and over 300 m for vehicles.
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The semi-autonomous vehicle market is estimated to be the largest market for the LiDAR for automotive market, by application
The semi-autonomous vehicle segment is estimated to hold the largest market share of the LiDAR for Automotive Market due to factors such as an increase in the demand for driving safety features, the development of cost effective LiDAR solutions, and increasing government regulations.
The 3D segment market is estimated to be the fastest growing market of the LiDAR for automotive market, by image type
The 3D segment market is estimated to be the fastest growing market of the LiDAR for automotive market, by image type due to the technological advantages over 2D LiDAR and an expected increased use of autonomous vehicle technology in the automotive industry. The accuracy and performance of 3D LiDAR in autonomous vehicles are far superior to conventional solutions such as RADAR and camera.
The European market is estimated to be the largest market in the LiDAR for automotive market
The European market is projected to be the largest market in the LiDAR for automotive market as the testing of autonomous vehicles has begun in several countries in the region, such as Germany, U.K. and France. The investment in research and development in the European automotive industry is the largest worldwide, with about 180 automobile facilities across the region. The European LiDAR for automotive market is led by the market in Germany owing to the increased demand for technologically advanced features in the country.
The LiDAR for automotive market is dominated by a few globally established players such as Delphi Automotive, PLC (U.K.), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Infineon Technologies AG (Germany), Velodyne LiDAR, Inc. (U.S.), Texas Instruments, Inc. (U.S.), Leddartech, Inc. (U.S.), First Sensor AG (Germany), Quanergy Systems, Inc. (U.S.), and Innoviz Technologies, Ltd. (Israel).
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