Automotive LiDAR Market to Witness Huge Growth by 2027 - Continental, Denso, Innoviz, Luminar, Omron, Panasonic, VALEO, Velodyne Lidar, Xenomatix, Triluminia

The global Automotive LiDAR Market accounted to US$ 415.1 Mn in 2018 and is expected to grow at a CAGR of 30.4% during the forecast period 2019 - 2027, to account to US$ 4,348.09 Mn by 2027.

APAC is considered to be the fastest growing economic region, with China and India as the world’s first and third fastest growing economies. Also, Japan is the most technologically advanced country in the region giving an opportunity for the development of automobile market. Also, emerging economies of Southeast Asia such as Vietnam, Malaysia, Indonesia and others are experiencing a growth in their infrastructural sector thus, the demand for vehicles in the region is expected to increase.

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The report enables you to-

- Formulate significant competitor information, analysis, and insights to improve R&D strategies
- Identify emerging players with potentially strong product portfolio and create effective counter strategies to gain competitive advantage
- Identify and understand important and diverse types of Automotive LiDAR under development
- Develop market entry and market expansion strategies
- Plan mergers and acquisitions effectively by identifying major players with the most promising pipeline
- In-depth analysis of the product's current stage of development, territory and estimated launch date.

Also, the government of the emerging economies of Asian countries are committed to focus on attracting FDI for the development of their economy. For this, the governments are taking various initiatives. This would result in increased investment in automotive components manufacturing sector as well. Thus, the automotive LiDAR market is anticipated to witness growth in the APAC region.

Rising advancements in the automotive industry

In the new era of global automotive industry, the demand for numerous vehicle electronics is significantly increasing. This has led the automotive industry to witness the innovation and emergence of technologies such as cameras, thin-film transistors, and clusters among others. Cameras such as lane departure warning camera, reverse parking camera, and front camera among others are rapidly growing in all segments of vehicles, which is driving the market in the present scenario.

The List of Companies

Continental AG
Denso Corporation
Innoviz Technologies, Ltd.
Luminar Technologies, Inc.
Omron Corporation
Panasonic Corporation
VALEO
Velodyne Lidar
Xenomatix N.V.
Triluminia

The notable adoption by the automotive OEMs is paving the future path of electronics in the automotive industry. Apart from the above mentioned electronics, there are other electronics embedded with advanced technologies. Power steering, heat control, tire pressure monitoring systems (TPMS), infotainment, and anti-lock braking system among others.

These electronic components comprise of several semiconductor products, which includes sensors, actuators, and micro-controllers among others. The advancements in these systems is extensively driving the market for vehicle electronics, which in turn is boosting the automotive LiDAR market in the present market status.

Increasing number of Partnerships is Capitalizing the Market

The automotive industry across the globe are constantly facing pressures to integrate their vehicles with advanced electronics and semiconductor components in order to enhance the performance of the vehicles. The rising drift of electrification of vehicles is a major factor boosting the market in automotive industry. Attributing to this, the automobile manufacturers are increasingly partnering with semiconductor manufacturers to meet the demands of their customers.

This alliance between the companies has propelled the market and is also expected to create a massive opportunity for the market in the coming years. Thus, continuous partnerships among semiconductor manufacturers and automotive OEMs across the globe is constantly driving the automotive LiDAR market over the years, and the same is expected to continue in the forthcoming years.

Component Insights

The global automotive LiDAR market by component is segmented into photodetectors, integrated circuits, laser, optical elements, and others. Laser segment dominate the automotive LiDAR market heavily and is expected to continue its dominance throughout the forecast period from 2019 - 2027. The laser produces energy of pulses.

The near-infrared wavelengths are utilized for the most terrestrial LiDAR-based applications. Fiber-lasers and laser-diodes are widely used sources in the LiDAR systems. An ideal LiDAR system is encompassed with a laser source with an eye-safe wavelength having sufficient power to locate dark obstacles standing at a distance of 100 m to 10 cm and performing at the temperatures from -40 C to 85 C.

Type Insights

Automotive LiDAR facilitates safer driving experience and reducing road accidents caused due to human error. The automotive LiDAR market by type is further segmented into solid-state LiDAR and flash LiDAR. The solid-state LiDAR instead of using conventional motors, they use semiconductor solutions to steer light or scan or the scene.

Whereas, in the flash LiDAR, the laser beam is not scanned on the scene, however, the last is lightened at once, which results into no requirement of moving part. It is foreseen that the solid-state LiDAR segment of automotive LiDAR market is expected to witness a significant growth rate in the coming years.

Application Insights

The automotive LiDAR market by application are segmented into autonomous shuttle, robotaxis, and passenger cars. The automotive LiDAR market by application was led by passenger cars segment which held a maximum market share in the year 2018. Passenger car segment undergo substantial technological advancements year on year, owing to the changes in consumer interests, emergence of new technologies, and governmental rules and regulation related to reduction in emission and other factors. The trend of procurement of passenger cars is increasing at a decent rate over the years. The more the procurement of passenger cars, the more is the demand for LiDAR system to have hassle-free driving experience.

Market Initiatives was observed as the most adopted strategy in global automotive LiDAR market. Few of the recent market initiatives are listed below:

2019: Velodyne LiDAR Joined Forces with Veoneer Inc. on Automotive Production Contract. In this agreement, Velodyne is expected to provide core LiDAR technology to Veoneer Inc. through which Veoneer, Inc. further strengthens its development in providing trusted, innovative solutions for the auto industry.

2018: Innoviz Established Presence in Four New Regions and enhanced manufacturing abilities, aligning with the company's mission to provide LiDAR solutions that are available and affordable at a massive scale. Innoviz has expanded globally with the opening of offices in four new countries including the U.S., Germany, China and Japan.

2017: TriLumina Collaborated with Analog Devices for a new integrated, solid-state illuminator module for automotive FLASH LiDAR systems. The integration of TriLumina’s innovative VCSEL array laser emitters with ADI’s patent pending high-speed pulse laser driver enables a best-in-class illuminator achieving high optical power output in a single, small surface mount IC package. This combination marks a milestone towards cost effective, high performance LiDAR systems. TriLumina’s collaboration with ADI signals its position as an integral player in next generation automotive LiDAR systems.

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GLOBAL AUTOMOTIVE LIDAR MARKET SEGMENTATION

Global Automotive LiDAR Market - By Type

- Solid State
- Flash

Global Automotive LiDAR Market - By Component

- Photodetectors
- Laser
- Integrated Circuit
- Optical elements
- Others

Global Automotive LiDAR Market - By Application

- Autonomous Shuttle
- Robotaxis
- Passenger Cars

Global Automotive LiDAR Market - By Geography

* North America
- U.S.
- Canada
- Mexico
* Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
* Asia Pacific (APAC)
- India
- China
- Japan
- Australia
- Rest of APAC
* Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
* South America (SAM)
- Brazil
- Rest of SAM

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This release was published on openPR.