Automotive LIDAR Sensors Market Global Growth, Size, Share, Trends 2018 Industry Forecast Report To 2023

Automotive LIDAR Sensors Market Analysis From 2018 To 2023. Automotive LIDAR Sensors Market By Application Type (Semi-Autonomous Vehicles, Autonomous Vehicles), By Image Type (2D Image, 3D Image), By Placement (Headlight & Taillight, Bumpers, Roof, Others), by end market (OEMs, Aftermarket), and By Region - Forecast To 2023.

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Global Automotive LIDAR Sensors Market Highlights:

LIDAR (Light Detection and Ranging) system is used to determine the time in which a pulse laser overcomes a certain distance in particular medium. The automotive sector generally uses laser pulses with a length of 3-20 nanoseconds. The LIDAR sensors in automotive are capable of detecting objects within a range of 300 meters. The global automotive LIDAR sensors market has seen remarkable growth in the global market and it has been observed that, its demand in the future is expected to grow at CAGR of ~25%.

The global automotive LIDAR sensors market is majorly being driven by the strengths of LIDAR sensors such as high angular resolution and wide view that is required for proper mid-range detection. The data scanned by the LIDAR is capable of being recorded by the software tools, which can be used for creating a model of vehicles surrounding. Also, the LIDAR sensors serve as a perfect connection between close ranges and far range sensor systems.

The market for automotive LIDAR sensors is also largely driven by its increasing use in the self-driving cars. LIDAR sensors enable the differentiation between a person on a bike and a person walking, and even at the speed and direction they are going in. LIDAR is the key sensor in self-driving cars with the combination of navigation system, predictability and high-resolution object tracking. 

In future, the market has been projected to grow, as major players greatly focus on both, decreasing the cost and increasing the range and resolution of the LIDAR sensors.

Geographically, the global automotive LIDAR sensors market has been divided into four major regions of North America, Europe, Asia Pacific and Rest of the World. Amongst these, Europe region is expected to dominate the global market owing to the existence of a large number of OEMs and LIDAR manufacturers in the region. The major players in the Europe market are taking initiatives to geographically expand their presence by entering into partnerships and collaborations with both, global and regional players.

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