Sales Revenue of Automotive LiDAR Sensor Market to Soar in the Near Future Owing to Growing Consumer Adoption

Light detection and ranging (LiDAR) is a vital sensing technology for enabling autonomous cars and vehicles. LiDAR uses a pulsed laser to detect angle, velocity, and distance with high precision. LiDAR can sense lane markings, classify objects, and can be also used to correctly position an autonomous vehicle.

The Research Dive published blog states that when compared with the conventional methods, automotive LiDAR sensors have made the inspection, mapping, and detection of objects easier. Precise and accurate data points can be delivered with laser light in short time. This sensor also has an ability to provide 3D scanning of images and extremely accurate data in a shorter time.

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Trends and Recent Developments in Automotive LiDAR Sensors

In order to be beneficial for autonomous driving, automotive LiDAR sensor has to swoop the environment to build a useable 3D map. A LiDAR technology company, Velodyne has two different technologies for producing a 3D map. Surround View is one platform which achieves a 360-degree view around the sensor. This platform uses a solid-state LiDAR electronic engine, which is basically rotated on a spindle.
The other platform of Velodyne is Vellaray, which is an embeddable small form factor. This platform uses frictionless beam steering, which can be swept in two axes. However, as its field of view is limited to 120o in the horizontal plane, it is not physically rotated.

The resolution of modern automotive LiDAR sensor is good enough to differentiate between various objects. Besides distance, LiDAR sensor can also examine the reflectivity of an object. In stop signs, the background is in red and the word “stop” is in white. Thus, by the virtue of reflectivity, the LiDAR system can determine its nature and just not the presence of a sign. The lane markings are also more reflective than the road signs

The next generation of LiDAR system is now being developed and commercialized by Veoneer for automotive application using scalable auto-grade automotive LiDAR sensor and 3D software technology of Velodyne. Both companies will contribute technologies, key components, know-how, and other logical property that is required to improve the next generation of high performance and affordable LiDARs for the automotive market.

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Hence, automotive LiDAR sensor provides a view of the world independent of radar and cameras. Although, cameras and radar cannot be replaced. As a backup, there will always be a necessity for a redundant sensor modality in cases where the LiDAR sensor fails.

Forecast Analysis of Automotive LiDAR Sensor Market

Global automotive LiDAR sensor market is anticipated to witness a progressive growth during the forecast period from 2019 to 2026. The improved automated processing ability of automotive LiDAR sensors in terms of data processing capabilities and image resolutions is a major factor that is presently driving the market growth. However, the high cost of the system owing to low demand will restraint the market growth. The requirement of LiDAR sensor is likely to increase in the future, which will reduce the cost restraint.

Rapid growth advancements in autonomous vehicles all over the globe is projected to escalate the growth of global market in the coming years. As per the Research Dive statistics of research report, the global automotive LiDAR sensor market is anticipated to rise at a CAGR of 39.0% during the forecast period. The top gaining players of the global market are adopting various strategies such as mergers, product
development, acquisitions, and joint ventures to upsurge the growth of the global market.

In the next few years, ADAS and autonomous cars are poised to become standard technologies, which will further increase the need for improved sensing technologies. Automotive LiDAR sensor is becoming increasingly sophisticated and will be a major partner in automotive sensing along with radar and cameras.

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