Market Insights and Analysis: Global Automotive LiDAR Market Overview and Projections (2022-2027)
The Global Automotive LiDAR market is projected to grow at a CAGR of around 29% during the forecast period, 2022-27. The exponential rise in the global market can be attributed to the growth in the integration of AI-enabled functionalities, the growing ecosystem of Automotive IoT, and rising customer traction toward sophisticated features in the vehicles.
Top leading companies in the Global Automotive LiDAR Market includes:
Delphi Automotive, PLC Continental AG ZF Friedrichshafen AG Infineon Technologies AG Velodyne LiDAR, Inc. Texas Instruments, Inc. Leddartech, Inc. First Sensor AG Quanergy Systems, Inc. Innoviz Technologies, Ltd. Luminar Technologies Ouster, Inc. Robert Bosch GmbH Valeo Benewake (Beijing) Co., Ltd. Others.
Possible Restraint: High Cost of LiDAR
Over the years, consumer preferences have transformed with an increasing emphasis on parameters such as high performance, improved efficiency, greater safety, and security, among others. Automated systems such as AEB, Autopilot, and lane departure systems are integrated with autonomous vehicles that utilize components such as radar, ECU, and LiDAR. However, some of these components are yet to be deployed on a commercial scale. Therefore, these components are presently marked at an exorbitantly high price. For instance, LiDAR sensors from Velodyne LiDAR are within the range of USD3,800 to $77,000.
Furthermore, integrating these sensors into an autonomous system is expected to increase the total cost of the autonomous vehicle, reducing the pool of target customers. With the high prices of autonomous vehicles, their deployment in the cost-sensitive market, where the demand for low-cost vehicles is prominent, hence, is expected to be hampered.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Technology
-Mechanical
-Solid-state
By Application
-Autonomous
-Semi-Autonomous
By Range
-Short Mid-Range (Up to 200 meters)
-Long Range (Above 201 meters)
By Image Processing
-2-D
-3-D
-4-D
By Location
-Bumper and Grill
-Headlight and Taillight
-Roof and Upper Pillar
-Others (Windscreen, Rear View Mirrors, etc.)
By Vehicle Type
-Passenger Vehicles
-Internal Combustion Engine (ICE) Vehicle
-Electric Vehicle (EV)
-Commercial Vehicles
By Demand Type
-OEM
-Replacement.
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Global Automotive LiDAR Market Geographic Reach:
The Geographic Reach of the Global Automotive LiDAR Market evaluates the spread and significance of Global Automotive LiDAR market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- North America: USA, Canada
- Europe: Germany, France, Italy, UK, Russia
- Asia-Pacific: China, India, Japan, South Korea, Australia
- South America: Brazil
- Middle East Africa: Saudi Arabia, Israel, Turkey.
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