What’s driving the Automotive LiDAR Market Share? Continential, Panasonic, Valeo, Audi, Mercedes-Benz, Tesla, BMW Group
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Automotive LiDAR Market to be over 35,000 units with the market size of over USD 150 million in 2017. The market is anticipated to grow at a CAGR of over 40% during the forecast period. The solid-state LiDAR market is projected to grow significantly over the projected time period. This technology is in the development phase and is expected to be commercialized by 2020. However, the technology is gaining a lot of traction from the automakers due to its cost-effective nature and compact size. Its entire assembly is built on a silicon chip.
Industry Growth drivers:
1. Increasiong R&D activities for autonomous vehicles
2. Growing supply demand gap
3. Supportive governemnt initiatives and policies
4. Entry of new players in the LiDAR market
5. Rising investment in AutoTech
The autonomous vehicle market is anticipated to grow at a CAGR of more than 65% over the forecast timespan. The growing demand for the LiDAR sensors among the automotive manufacturers for self-driving cars is the primary factor driving the market. The LiDAR sensors are being widely used in autonomous vehicles to create a 3D model of its surrounding environment using light pulses.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
8. Innoviz Technologies
10. LeiShen Intelligent System
12. Ocular Robotics
19. Sense Photonics
21. Sure Star
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Growing concerns toward safety among regulatory bodies and customers to safeguard vehicles and passengers also promote the automotive LiDAR market. The government across the countries are constantly working on enhancing the safety of the vehicles by mandating the use of advanced driving assistance systems in the vehicles and modifying the vehicle safety systems.
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.
The North America is dominating the automotive LiDAR market with a market share of over 70% in 2017. This growth can be attributed to favorable government policies. For instance, in 2016, the Canadian government introduced Ontario Regulation 306/15 that permitted the testing of self-driving vehicles. In addition, the automotive companies in the region have invested heavily in the development of the automotive LiDAR technology.
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The Asia Pacific automotive LiDAR market is anticipated to grow at a CAGR of over 60% during the projected timeline. The presence of the major automotive LiDAR technology providers such as Robosense and Benewake in the region has fostered the growth of the market. These companies are investing heavily in the R&D activities to accelerate innovations in the automotive LiDAR technology. For instance, in 2018, RoboSense has partnered with Alibaba to develop solid-state LiDAR technology for autonomous vehicles.
The prominent players operating in the automotive LiDAR industry are Leddertech, Continental, Luminar Technologies, Aptiv, Magna, Blackmore Sensors & Analytics, Oryx Vision, Audi, Mercedes-Benz, Tesla, BMW, Nissan, Trilumia, Uber, ZF, Innoviz Technologies, Velodyne, Quanergy, and Volvo. The major companies in the automotive LiDAR market are forming alliances with other expert companies in the market to develop new product offerings and conduct strategic acquisitions, to gain a competitive advantage over its competitors.
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