Automotive LiDAR Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030

Publish Date: 2021-02-15


The Automotive LiDAR Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

 

Automotive LiDAR or Light Detection and Ranging is an advanced remote sensing technology used for detection of obstacles in pathway with the help of light. The distance between the obstacle and a vehicle is calculated by sensing the light reflected from an obstacle. The demand for automotive LiDAR has increased significantly over past couple of years owing to increasing investment in development of autonomous vehicles and reducing cost of LiDAR sensors. The LiDAR manufacturers are focusing on reducing the size of LiDAR sensor in order to facilitate deployment of LiDAR sensors inside a vehicle. This is anticipated to contribute towards increased adoption of LiDAR in upcoming autonomous vehicles. Increasing investment in advanced automotive electronics and semiconductor devices is anticipated to fuel the development of automotive LiDAR in coming years. However, the prevalence of COVID-19 across leading automotive component manufacturing countries is anticipated to hinder the growth of global automotive LiDAR market in coming years. The global automotive LiDAR market is anticipated to witness steady demand during the forecast period.

 

Reduction in cost and increasing number of solid state LiDAR manufacturers to fuel market growth  

The global automotive LiDAR market is segmented on the basis of product type, component, imaging type, technology, power, vehicle type, and geography. Based on technology, the global automotive LiDAR market is segmented into solid state and mechanical/scanning. The solid state automotive LiDAR contributed the largest share to the global automotive LiDAR market in 2019 and is anticipated to be the fastest growing segment throughout the forecast period owing to increased investment in development of compact solid state LiDAR, absence of moving parts, and reduction in price. The automotive OEMs are focusing on incorporating solid state LiDAR in upcoming automobiles, which has fueled the competition in LiDAR manufacturing and is anticipated to contribute towards the growth of global automotive LiDAR market during the forecast period.

 

Increasing investment in development of autonomous vehicles coupled with focused research & development activities in development of advanced LiDAR systems to drive the market growth

Based on vehicle type, the global automotive LiDAR market is segmented into semi-autonomous vehicles and autonomous vehicles. The semi-autonomous vehicle segment contributed a dominating share to the global automotive LiDAR market in 2019 and is anticipated to be a dominating segment throughout the forecast period owing to increasing investment in development of mid-range semi-autonomous vehicles by the leading automotive OEMs across the globe. The autonomous vehicle segment is anticipated to be the fastest growing segment during the forecast period.

 

Based on geography, the global automotive LiDAR market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe contributed the largest share to the global automotive LiDAR market in 2019 owing to the presence of leading LiDAR manufacturers across the region. Increasing investment in development of electric and autonomous vehicles is expected to drive the growth of Europe automotive LiDAR during the forecast period. Asia Pacific is expected to be the fastest growing segment during the forecast period owing to increasing investment in development of autonomous vehicles and associated technologies across major countries.

 

Major players active in the global automotive LiDAR market include Aptiv PLC, Continental AG, First Sensor AG, Infineon Technologies AG, Innoviz Technologies, Ltd., Leddartech, Inc., Quanergy Systems, Inc., Texas Instruments, Inc., Velodyne LiDAR, Inc., and ZF Friedrichshafen AG.

 

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