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How Will North America Automotive Lidar Market Size Witness Momentous Growth By 2024?
Automotive LiDAR market
Automotive LiDAR market forecast report has anticipated 3 million units automotive LiDAR to be sold by 2024 with industry size to surpass almost $3 billion in terms of revenue.
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How will autonomous vehicle segment spur automotive LiDAR industry share expansion over the ensuing years?
Automotive LiDAR market share from autonomous vehicle sector is projected to expand at above 65% CAGR over 2018-2024. Escalating demand of LiDAR sensors among automakers for self-driving cars is key aspect fueling automotive LiDAR industry. LiDAR sensors have found wide applications in autonomous vehicles to generate a 3D model of surrounding environment with the use of light pulses. The sensors helps vehicles to measure precise distance from objects within its vicinity.
High accuracy and superior property offered by LiDAR sensors in comparison with other alternative products including imaging sensors, ultrasonic, and radar are helping to augment product demand.
What will be the impact of demand for solid-state LiDAR on automotive LiDAR market trends by 2024?
Solid-state LiDAR segment is predicted to grow substantially over the coming years. This technology is under development and anticipated to be commercialized by 2020. Though, the technology has been gaining a lot of traction from automotive manufacturers owing to its compact size and cost-effective nature. The entire assembly of solid-state LiDAR is developed on a silicon chip with no moving components which makes the system more resilient to vibrations. Such advantages enables manufacturers to create smaller parts at a lower price which will in turn expand automotive LiDAR industry size.
How will government initiatives help to augment automotive LiDAR industry size?
Intensifying concerns about safety among manufacturers and regulatory bodies to protect passengers and vehicles will augment automotive LiDAR market trends in the near future.
Governments throughout the world have been incessantly striving to improve vehicle safety. They have been implementing the use of advanced driving assistance systems in automobiles and improving vehicle safety systems. For example, New Car Assessment Program (NCAP) initiated by the European government is aimed to encourage the use of ADAS systems in vehicles to ensure safety.
Likewise, the U.S. has formed National Highway Traffic Safety Administration (NHTSA) to introduce latest guidance systems for Automated Driving Systems (ADS).
How will North America emerge as a major contender in automotive LiDAR market outlook?
North America has dominated automotive LiDAR industry outlook with revenue share of more than 70% in the year 2017. The growth is attributable to supportive government policies. For example, in 2016, the Canadian government has reportedly started Ontario Regulation 306/15 which permits testing of self-driving vehicles. Additionally, automotive market players in the region have also invested substantially for development of automotive LiDAR technology.
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What will be the contribution of Europe in the global automotive LiDAR industry share growth?
Europe automotive LiDAR market forecast predicts the region to witness a CAGR of more than 60% over 2018-2024. Autonomous sector in the region is likely to expand at a rapid pace owing to supportive government policies and well-maintained transportation infrastructure. For example, in 2015, Government of the Netherlands initiated a regulatory framework to enable testing of autonomous vehicles on public roads. Moreover, rise in number of public-private partnerships have been noted which will encourage autonomous sector and automotive LiDAR industry trends in Europe.
Table of Contents (ToC) of the report:
Chapter 4. Competitive Landscape
4.1. Introduction
4.2. Merger Acqusition landscape, 2016-2017
4.3. Fundiung activities landscape, 2014-2017
4.4. Top market players, 2017
4.4.1. Velodyne
4.4.2. Valeo
4.4.3. LeddarTech
4.4.4. Robosense
4.5. Innovation leaders, 2017
4.5.1. Ouster
4.5.2. Innoviz Technologies
4.5.3. Benewake
4.5.4. Quanergy
4.6. Other prominent vendors
Chapter 5. Global Automotive LiDAR Market, By Type
5.1. Key trends, by type
5.2. Mechanical LiDAR
5.2.1. Market estimates and forecast, 2016 - 2024
5.2.2. Market estimates and forecast, by region, 2016 - 2024
5.3. Solid state LiDAR
5.3.1. Market estimates and forecast, 2016 - 2024
5.3.2. Market estimates and forecast, by region, 2016 - 2024
Chapter 6. Global Automotive LiDAR Market, By Vehicle
6.1. Key trends, by vehicle
6.2. Autonomous vehicle
6.2.1. Market estimates and forecast, 2016 - 2024
6.2.2. Market estimates and forecast, by region, 2016 - 2024
6.2.3. Autonomous vehicle market, by type, 2016 - 2024
6.3. Semi-autonomous vehicle
6.3.1. Market estimates and forecast, 2016 - 2024
6.3.2. Market estimates and forecast, by region, 2016 – 2024
6.3.3. Semi-autonomous vehicle market, by type, 2016 - 2024
Get Complete Synopsis of the Report @ https://www.gminsights.com/toc/detail/automotive-lidar-market
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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