Automotive LiDAR Market Show at 30.4% CAGR to 2027

The automotive LiDAR market accounted to US$ 415.1 Mn in 2018 and is expected to grow at a CAGR of 30.4% during the forecast period 2019 - 2027, to account to US$ 4,348.09 Mn by 2027.

APAC is considered to be the fastest growing economic region, with China and India as the world's first and third fastest growing economies. Also, Japan is the most technologically advanced country in the region giving an opportunity for the development of automobile market. Also, emerging economies of Southeast Asia such as Vietnam, Malaysia, Indonesia and others are experiencing a growth in their infrastructural sector thus, the demand for vehicles in the region is expected to increase. Also, the government of the emerging economies of Asian countries are committed to focus on attracting FDI for the development of their economy. For this, the governments are taking various initiatives. This would result in increased investment in automotive components manufacturing sector as well. Thus, the automotive LiDAR market is anticipated to witness growth in the APAC region.

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Companies Profiled in this report includes:  Continental AG, Denso Corporation, Innoviz Technologies, Ltd., Luminar Technologies, Inc., Omron Corporation, Panasonic Corporation, Trilumina Corporation, Valeo SA, Velodyne LiDAR, Inc., Xenomatix N.V.

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.

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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 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.

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