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Automotive LiDAR Market Size, Share, Growth Analysis and Forecasts to 2027 - Innoviz Technologies, Luminar Technologies, Valeo SA, Velodyne LiDAR, Xenomatix N.V.

07-15-2019 06:17 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

Automotive LiDAR Market

Automotive LiDAR Market

Latest market study on "Automotive LiDAR Market to 2027 by Type (Solid State and Flash); Component (Photodetectors, Laser, Integrated Circuit, Optical Elements, and Others); and Application (Autonomous Shuttle, Robotaxis, and Passenger cars) – Global Analysis and Forecast", the automotive LiDAR market is estimated to reach US$ 4,348.09 Mn by 2027 from US$ 415.10 Mn in 2018. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

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The major companies offering automotive LiDAR market include Continental AG, Denso Corporation, Innoviz Technologies, Ltd., Luminar Technologies, Inc., Omron Corporation, Panasonic Corporation, Trilumina Corporation, Valeo SA, Velodyne LiDAR, Inc., and Xenomatix N.V. among others. Several other companies are also offering these LiDAR products and solutions to automotive industry which is facilitating the market to propel over the years.

In the current automotive market, major manufacturers are integrating their vehicles with technologically enhanced sensors, in order to improve the safety of the vehicles. Apart from sensors, several other types of semiconductors are also being integrated on the newer vehicles, which is paving the path for semiconductor industry players to generate substantial revenue. The demand share of technologically robust semiconductor components in the automotive industry is majorly among the passenger car segment. Cost and fuel efficiency no longer stay as the primary criterion for purchasing, instead the purchase more depend on the comfort and security provided in the car. Attributing to this fact that, the global automobile manufacturers are witnessing substantial demand for high-end cars, which is pressurizing the automobile manufacturers to add increased numbers of electronic components, thereby driving the market for automotive LiDAR. Additionally, surging adoption of advanced ADAS systems is impacting positively on the automotive LiDAR market. Thus, the rising automotive manufacturing is playing a major role in driving the automotive LiDAR market in the current scenario. A similar trend is also foreseen to drive the market in the coming years.

The companies in the market are expanding substantially. For instance, in 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. Further, in the same year, Continental and EasyMile inaugurated new autonomous driving R&D team in Singapore. The new joint team’s work focus was to develop new technology centered on perception and deep learning and to prepare autonomous vehicle (AV) technology for tests towards safe deployments on private grounds and public roads in the Singaporean metro area.

The global market for automotive LiDAR market is segmented on various parameters such as type, component, product, application, and geography. Based on type, solid-state LiDAR segment dominate the automotive LiDAR market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. On the basis of component, photodetectors segment is expected to witness a significant growth rate in the coming years. Further, based on application, passenger cars led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. Key players operating in the market are introducing attractive solutions and are partnering with the small as well as large companies which is helping them to gain customer traction.

The report segments the global Automotive LiDAR Market as follows:

Global Automotive LiDAR Market – By Type

Solid State
Flash
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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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.

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