Automotive LiDAR Market Latest Technological innovation In Automotive Segment for Luminar, Aptiv, Uber, Blackmore Sensors and Analytics, Trilumia, ZF, Magna, Innoviz Technologies

Worldwide Automotive LiDAR Market report of 2018 provides a detailed market overview as well as industry analysis for of companies, manufacturers and distributors covering data on gross margin, cost structure, consumption value, sale price and more.

Automotive LiDAR Market will exceed USD 2.0 billion by 2024; as per a new research report.

The high cost associated with the existing LiDAR technology has been a major factor decelerating the growth of the automotive LiDAR sensors. The technology is currently prohibitively expensive for mass production. The Solid-State LiDAR suppliers understand the need to develop low-cost, affordable LiDAR sensors for its wider adoption. They are collaborating with automakers and technology companies to reduce the prices of the LiDAR systems.

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Report Cover By Manufactures:
LeddarTech, Continental, Luminar Technologies, Aptiv, Uber, Blackmore Sensors and Analytics, Trilumia, ZF, Magna, Innoviz Technologies, Oryx Vision, BMW, Nissan, Mercedes-Benz, Volvo, RoboSense, Audi, Velodyne, and Quanergy.

Automotive LiDAR Market is anticipated to exceed three million units with a market size of over USD 3 billion by 2024. The automotive LiDAR market is propelled by increasing R&D activities for the development of autonomous vehicles. Technology giants and automakers, such as Google and GM, are working toward developing their own autonomous solutions for self-driving vehicles. Supportive government initiative and policies have further fostered the growth of the market.

North America is dominating the automotive LiDAR market and accounts for over 70% of the total market. This growth can be attributed to the presence of a large number of automakers and tech giants. They have adopted various strategic initiatives to advance the automotive LIDAR technology. For instance, in 2017, LeddarTech, a provider of autonomous LiDAR solutions, partnered with Delphi, a developer of autonomous driving technology, to develop cost-effective automotive LiDAR solutions. Furthermore, the presence of a comprehensive regulatory framework has allowed various automakers to conduct tests of autonomous vehicles on public roads and freeways.

Europe automotive LIDAR market will grow at a CAGR of over 60% during the projected timeline. The autonomous industry in the region will grow at a very high pace due to its well-maintained transportation infrastructure and supportive government policies. For instance, in 2015, the Government of the Netherlands established a regulatory framework, which allowed the testing of autonomous vehicles on public roads. In addition, there has been a growth in the number of public-private partnerships, which is further accelerating the growth of the autonomous industry in the country.

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There has been an abrupt growth in the demand for LiDAR sensors in the automotive industry. The customers have to wait for extended durations due to the presence of a limited number of suppliers. Therefore, the existing suppliers are building production facilities to meet the growing demand for automotive LiDAR sensors. In addition, the increasing supply-demand gap has attracted new players to the market. Conventional automotive suppliers are forming partnerships or making strategic investments in the existing LiDAR suppliers to access their technology.

The mechanical LiDAR holds the majority share in the automotive LiDAR market. This growth is attributed to the widespread adoption of the technology in various advanced driver assistance system applications. The solid-state LiDAR technology has gained a lot of popularity due to its inexpensive nature and higher performance with regards to the traditional LiDAR sensors. The automakers are currently working on solid-state technology, which is expected to be commercialized by 2020.

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