Automotive LiDAR Market is driven by increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles | Continental AG, First Sensor AG, Ibeo Automotive Systems GmbH, Innoviz Technologies Ltd

New York, According to a new market research report published by Global Insight Services Automotive LiDAR Market is expected to grow by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Automotive LiDAR (Light Detection and Ranging) is a technology that uses lasers to measure distance and create 3D maps of objects and surfaces. LiDAR is used in autonomous vehicles to create a real-time map of the surrounding environment, which is then used to navigate the vehicle. LiDAR works by sending out a laser beam and measuring the time it takes for the beam to bounce back. The distance to the object can then be calculated based on the speed of light. LiDAR can also be used to create a 3D map of an area by scanning it with multiple beams at different angles.

Key Trends

1. Increasing demand for advanced driver assistance systems: The increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles is a major factor driving the growth of the automotive LiDAR market.

2. Technological advances: The continuous technological advances in automotive LiDAR technology are another major factor driving the growth of the market.

3. Increasing adoption of LiDAR in premium and luxury vehicles: The increasing adoption of LiDAR in premium and luxury vehicles is another factor driving the growth of the automotive LiDAR market.

4. Growing demand in Asia-Pacific: The growing demand for automotive LiDAR in Asia-Pacific is another factor driving the growth of the market.

Key Drivers

The automotive LiDAR market is expected to grow significantly in the next few years owing to the increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles. Some of the key drivers of the automotive LiDAR market include the increasing need for improved safety features in vehicles, the growing adoption of autonomous vehicles, and the increasing investment by key players in the development of LiDAR technology.

The automotive industry is undergoing a major shift with the increasing adoption of ADAS and autonomous vehicles. LiDAR is playing a crucial role in these vehicles as it helps in providing a 3D view of the surrounding environment, which is essential for the safe operation of these vehicles. Moreover, the increasing investment by key players in the development of LiDAR technology is expected to drive the growth of the automotive LiDAR market.

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Market Segments

The Automotive LiDAR Market is segmented by application, technology, vehicle type and region. By application, the market is divided into semi-autonomous vehicle and autonomous vehicles. Based on technology, it is bifurcated into mechanical LiDAR and solid-state LiDAR. On the basis of vehicle type, it is classified into internal combustion engine (ICE) and electric & hybrid. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.

Key Players

The Automotive LiDAR Market includes players such as Continental AG, First Sensor AG, Ibeo Automotive Systems GmbH, Innoviz Technologies Ltd., LeddarTech, Luminar Technologies, Ouster, Inc., Robert Bosch GmbH, Valeo and Velodyne LiDAR.

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Reasons to buy Automotive LiDAR Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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