How is Rising Adoption of Autonomous Cars Driving Automotive LiDAR Market?

According to a P&S Intelligence report, the global automotive LiDAR market generated a revenue of $289.3 million in 2019 and is predicted reach a value of $14,754.7 million by 2030, advancing at a 26.1% CAGR during the forecast period (2020–2030). While in the past semi-autonomous vehicles (level 1, 2, and 3) made the most use of LiDAR sensors in the past, their demand for fully autonomous vehicles (level 4 and 5) is expected to grow considerably in the coming years. This is attributed to the growing adoption of fully autonomous vehicles in near future.

The different applications of LiDAR sensors are lane keeping assistance system (LKAS), adaptive cruise control (ACC) system, blind spot detection (BSD) system, and automatic emergency braking (AEB) system. One of the major aims of autonomous vehicles is to increase road safety, which is why, AEB systems are of crucial importance in order to prevent accidents. The system identifies critical situations early and warns the driver, and it also decreases the severity of a crash, if the accident cannot be prevented. Owing to this, the demand for LiDAR sensor for this application is projected to rise significantly in the coming years.

Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/automotive-lidar-market/report-sample

Asia-Pacific (APAC) is expected to be the fastest growing region in the automotive LiDAR market, during the forecast period, owing to the rapid advancements in the autonomous technologies in the region. The growing adoption of the autonomous technology in the transportation sector, as already reflected in the deployment of self-driving vehicles on APAC's streets, is driving the growth in the market. China is frequently rolling out testing and pilot projects, which will further lead the regional market to prosperity. For instance, Beijing Xiaoju Technology Co. Ltd. (DiDi Chuxing) launched a pilot project in August 2019, to test robotaxis in Shanghai.

Speak to Analyst: https://www.psmarketresearch.com/speak-analyst/automotive-lidar-market

Market Segmentation by Vehicle Autonomy
Semi-Autonomous Vehicle
Level 1
Level 2
Level 3
Fully-Autonomous Vehicle
Level 4
Level 5

Market Segmentation by Vehicle Type
Passenger Car
Conventional Fuel Car
Alternative Fuel Car
Commercial Vehicle
Light Commercial Vehicle (LCV)
Medium and Heavy Commercial Vehicle (M&HCV)

Market Segmentation by Range
Short and Medium-Range
Long-Range

Market Segmentation by Application
Adaptive Cruise Control (ACC) System
Automatic Emergency Braking (AEB) System
Blind Spot Detection (BSD) System
Lane Keeping Assistance System (LKAS)

Explore Full Report Description At@ https://www.psmarketresearch.com/market-analysis/automotive-lidar-market

Some of the biggest players operating in the global automotive LiDAR market are Innoviz Technologies Ltd., Velodyne Lidar Inc., ZF Friedrichshafen AG, Infineon Technologies AG, Quanergy Systems Inc., Luminar Technologies Inc., LeddarTech Inc., Texas Instruments Inc., and Valeo SA.

Contact: P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blog: http://psintelligence.blogspot.com/

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.