Market Revenue Highlights
Market Research Future (MRFR) in its “Automotive LIDAR Sensors Market Revenue” report states that the Market Revenue is expected to trend up and thrive at a CAGR of 25% across the forecast years of 2017 to 2023.
The ability of automotive LIDAR (light detection and ranging) sensors to detect objects at a distance of about 300 meters enhance on-road safety. This is likely to act as the primary factor that is expected to escalate the global Market Revenue of automotive LIDAR sensors.
The rise in concern for improving the safety of passenger and vehicle is surging the demand for LIDAR sensors in automobiles, which is expected fuel the Automotive LIDAR Sensors Market Revenue growth. The rise production of automobiles to meet the growing demand for automobiles as the world population expands is also expected to trend the Market Revenue upward. However, the mounting complexities and high installation and maintenance price of LIDAR systems can hinder the Market Revenue expansion.
The global Market Revenue of automotive LIDAR sensors is studied in segments of application type, placement, image type, and end Market Revenue.
By application type, the Automotive LIDAR Sensors Market Revenue is segmented into autonomous vehicles and semi-autonomous vehicles.
By image type, the Automotive LIDAR Sensors Market Revenue is segmented into 3D image and 2D image.
By placement, the Automotive LIDAR Sensors Market Revenue is segmented into bumpers, headlight & taillight, roof, and others.
By end Market Revenue, the Automotive LIDAR Sensors Market Revenue is segmented into OEM and aftermarket. The OEM segment is likely to dominate the Market Revenue in the coming year due to the increase in the number of OEM.
The Automotive LIDAR Sensors Market Revenue has been geographically studied into four major regions. They are; North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). In Europe, the Automotive LIDAR Sensors Market Revenue is expected to secure a major portion of the turnover of the global Market Revenue in the evaluation years. The intensifying focus of the regional automakers on upgrading electronics for automobiles is a significant factor that can surge the regional Market Revenue. Additional factors, such as quick expansion of the automotive industry and increase in export activities of automotive parts that the region is witnessing are likely to boost the Europe Market Revenue.The North America region Automotive LIDAR Sensors Market Revenue is expected to register a substantial growth. The fast paced adoption of advancedtechnologies that equip automobiles with better features, is noted increase the demand for LIDAR sensors in both fuel powered and electronic vehicles. The hike in disposable income of the North America population is also expected to boost the regional Market Revenue. The Automotive LIDAR Sensors Market Revenue in Asia Pacific is likely to register a high rate of growth owing to the increase in the production of automotive parts and their export.
MRFR listed some of the major markerters of the Automotive LIDAR Sensors Market Revenue. They are; Delphi Automotive (the U.K.), Continental AG (Germany), ZF Friedrichshafen (Germany), Infineon Technologies (Germany), Velodyne LiDAR (the U.S.), Texas Instruments Incorporated (the U.S.), First Sensor AG(Germany), Robert Bosch (Germany), Ibeo Automotive (Germany), Quanergy Systems (the U.S.), Valeo S.A. (France), Denso (Japan), PulsedLight (the U.S.), Teledyne Optech (Canada), LeddarTech (Canada), Trilumina (the U.S.), TetraVue (the U.S.), Princeton Lightwave (the U.S.), and HELLA GmbH (Germany).
Players of the global Automotive LIDAR Sensors Market Revenue are developing advanced automotive electronics to expand business. They are investing in developing innovations that are low cost and are easy to install. Initiatives, such as strategic partnerships, mergers and acquisitions, agreements, and other deals are also likely to aid the Market Revenue players to prosper across the assessment period.
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