Automotive LiDAR Market Size Worth USD 4.34 Bn by 2027

Increasing adoption of ADAS (advanced driver-assistance systems) in vehicles also propels the automotive LiDAR market. Key players in the automotive market are integrating advanced sensors in vehicles to improve overall safety on the road. Apart from sensors, several types of semiconductors are also being integrated into newer vehicle models to serve specific purposes. Most of the robust semiconductor components are integrated in the passenger car segment. High-end cars comes with an optimum number of electronic components, including automotive LiDAR (light detection and ranging) systems

According to The Insight Partners' research, the global automotive LiDAR market accounted for US$ 415.10 million in 2018 and is likely to be worth US$ 4,348.09 million by 2027 to rise at a CAGR of 30.4% from 2019 to 2027. The rising integration of technology in automobiles and advancements in the automotive industry are the potential parameters aiding the market expansion.

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Strategic Insights:

The prominent players listed in the global automotive LiDAR market are 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.
• In November 2018, Continental AG and EasyMile inaugurated new autonomous driving R&D team in Singapore. The joint team will develop new technology for perception and deep learning and prepare autonomous vehicles (AV) for safe deployment on private grounds and public roads in the Singaporean metro area.
• In April 2016, Denso Corporation invested in Trilumina, a semiconductor laser technology startup. As a supplier of advanced driver assistance system, Denso Will introduce high-performance and cost-effective light source solutions to the market.
• In December 2018, Innoviz expanded globally with new offices in the US, Germany, China, and Japan. The company will enhance its manufacturing capabilities to provide LiDAR solutions at affordable prices on a large scale.
• In February 2019, Luminar Technologies collaborated with Audi to work on LiDAR. The company will provide Audi vehicles a forward-facing, high-resolution, and long-range LiDAR technology.

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As per the component, the automotive LiDAR market sphere is categorized into photodetectors, lasers, integrated circuits, and optical elements. The laser segment held 41.9% market share in 2018, generating US$ 173.92 million. It is predicted to accumulate US$ 1,510.52 million by 2027 to expand at 27.6% CAGR over the forecast period.

Based on type, the market is split into solid-state LiDAR and flash LiDAR. The former led the business with 77.0% market share in 2018. It was valued at US$ 319.55 million in 2018 and is anticipated to garner US$ 2,914.60 million by 2027 to grow at 28.3% CAGR during 2019-2027.

Our regional analysis states that Europe led the market in 2018 with 38.2% share of the domain. It was evaluated at US$ 158.36 million in 2018 and is expected to hit US$ 1,562.03 million by 2027 to develop at 29.4% CAGR along the forecast period. The Asia Pacific market was assessed at US$ 112.78 million in 2018 and is supposed to reach US$ 1,288.95 million by 2027.

According to the application, the global automotive LiDAR market is categorized into autonomous shuttle, robotaxis, and passenger cars. With 98.7% market share, the passenger cars segment dominated the business in 2018. It amassed US$ 409.52 million in 2018 and is slated to accrue US$ 3,689.33 million by 2027 to register a CAGR of 31.6% throughout the forecast period.

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This release was published on openPR.