LiDAR for Cars and Light Trucks Market share forecast to witness considerable growth from 2019 to 2024

ResearchMoz include new market research report "LiDAR for Cars and Light Trucks Market Size, Shares - Industry Trends, Strategies, and Forecasts, Worldwide, 2017 to 2023" to its huge collection of research reports.

LiDAR sensors are extensively used in automated cars and light trucks as they help in safe navigation by detecting obstacles and avoiding them. As most of the original equipment manufacturers (OEMs) and tier-1 players within the global automobile industry are working towards automated driving, the global market for LiDAR will witness a high growth in the years to come. The demand for LiDAR technology is high as they help in achieving level 3 and level 4 in automation of vehicles. While level 3 still requires drivers for cars and light vehicles to function, all the safety critical functions relating to the environment or traffic can be shifted to the vehicle. Level 4 vehicles can monitor roadway conditions for the entire trip and perform all the safety-critical driving functions. With an increasing number of car manufacturers striving to expand the autonomous driving concept and the shift towards unmanned vehicles, the market for LiDAR has huge potential for growth.

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Worldwide markets are poised to achieve significant growth as LiDAR sensors for cars and light trucks permit users to implement automated driving. Fleet vehicles from Uber, Google and similar users are likely to be the early adopter groups, creating vehicles that do package delivery and ride sharing. Tesla, Mercedes, and Audi are among the vendors with a leadership position in the personal luxury vehicle artificial intelligence LiDAR car markets. These cars provide performance and cater to individual preference in feature function packages and styling.

LIDAR stands for light detection and ranging which is remote sensing. LIDAR does not require electromagnetic radiation but it requires laser pulses that strike the object and return back to the sensor. The laser pulse measures the distance from the sensor to the object by determining the time between the release to reception of the reflected pulse.

3D scanning market and imaging are expected to propel growth. Major technological developments include emergence of optically extended MEMS scanning mirror for low-altitude and light weight flying platforms. Long term reliability of number of key laser components drive the LiDAR market. Key components include optical coatings, optics, and diodes in vacuum and radiation environment of space.

Every car maker seeks to participate in this Artificial Intelligence (AI) personal vehicle market leveraging LiDAR. The ability to do so depends on implementing next generation technology that is very expensive to get working. Vendors ae seeking to work together to set standards and develop shared modules that provide basic functionality. Cameras, sensors, artificial intelligence software, and LiDAR are among the modules being developed.

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LiDAR for autonomous autos and small trucks /SUVs market at $13 million in 2016 is expected to reach $9.9 billion by 2023. This is in the context of a $3 trillion market for the autonomous vehicles. LiDAR represents one sensor in the autonomous navigation system. It is used to give more reliability than is available from cameras and other sensors and it compliments those capabilities. Spectacular growth is a result of various moves toward autonomous vehicles that can go across the US by themselves, provide automated navigation,, integrated braking and steering. Most auto vendors have gone beyond the testing stage to offer vehicles that have strong navigation capability.

Safety modules are complimented by mapping vehicles that provide navigation. The Tesla and other vehicles provide driver alerts but fall sort of complete Artificial Intelligence (AI).

Market driving forces relate primarily to the need for increased safety and personalization for autos. Car manufacturers are positioning with LiDAR sensors for cars to meet demand at the high end, and in every category of car and light truck. Many Artificial Intelligence (AI) vehicle car vendors are making automation for personal vehicles and light trucks a reality.

Companies Profiled

Market Leaders

Pioneer
Valeo
Continental
Velodyne
3DEO
MIT Lincoln Lab

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Market Participants

3d Laser Mapping Specialists, Airborne Lidar And Imagery
Avent Lidar Technology
AImotive
Alphabet, Waymo: Google
Google / Intel Target Driverless Cars with LiDAR
Waymo Deal with Fiat Chrysler Automobiles
Alps Electric
Argo AI
Autoliv

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