Explosive Growth in Automotive LiDAR Market: Forecast for 2024-2025, Primary Drivers and Key Market Trends

The automotive LiDAR market experiences accelerated growth rates with a substantial surge in safety and autonomous driving, rise in electric and connected vehicles, enhanced competition and industry investments, reduced costs and scalability, and developments in mapping and infrastructure.

What Is The Projected Market Size Of The Global Automotive LiDAR Market And Its Growth Rate?
• Moved by the rise of electric and connected vehicles, the automotive LiDAR market has grown from $0.81 billion in 2024 to $1.08 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 34.1%.
• The key factors contributing to this growth include safety and autonomous driving, regulatory and safety standards, increased usage of electric and connected vehicles, competitive and industry investments, cost reduction, and scalability along with advancements in mapping and infrastructure development.

What Is Driving The Growth In The Automotive LiDAR Market?
The surging demand for semi-autonomous vehicles and fully autonomous vehicles is significantly fuelling the growth of the automotive LiDAR market. As these types of vehicles require high-end sensors for navigation, obstacle detection, and mapping, the usage of LiDAR technology is crucial. Hence, the rise in automotive advancements and the push towards autonomous driving are contributing to the expansion of the market.

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Who Are the Key Players Driving Automotive LiDAR Market Growth?
• The growth of the automotive LiDAR market is heavily influenced by the increasing adoption of electric vehicles. This trend is set to propel the market growth forward.
• Electric Vehicles(EVs) substantially contribute to the energy efficiency improvements aided by LiDAR technology, which optimizes driving routes, manages energy consumption, and enhances overall vehicle efficiency.
• The increased sales of EVs around the globe fuel the growth of the LiDAR market - as evidenced by over 670,000 EVs sold in the first half of 2023 alone, with more than 80% of those being fully electric Battery Electric Vehicles (BEVs).

What Are The Key Trends In The Automotive LiDAR Market?
• Key trends in the automotive LiDAR market include safety and autonomous driving, regulatory and safety standards, the rise of electric and connected vehicles, competitive and industry investments, cost reduction, and scalability along with advancements in mapping and infrastructure development.

What Are The Segments Of The Global Automotive LiDAR Market?
• The automotive LiDAR market is segmented by products, technology, vehicle type, components, and application.
• Product types are aerial, mobile, terrestrial, or static, and short-range.
• These products are built using different technology like solid-state LiDAR and mechanical or scanning LiDAR.
• Suitable for a range of vehicles like IC Engine Vehicles, Hybrid Electric Vehicles (HEVs), Plug-In Hybrid Electric Vehicles (PHEVs), and Battery Electric Vehicles (BEVs).
• The components used in these products are laser, GPS/GNSS receiver, camera, inertial navigation system, micro electro mechanical system.

Which Region Leads The Automotive LiDAR Market?
In terms of regional growth, the acquisition of Bluecity Holdings Limited by Velodyne LiDAR Inc., a US-based LiDAR technology company, signifies a key event. This event, in effect, has allowed Velodyne to offer leading AI-powered autonomous vision solutions to customers, which fortifies the company's standing in the automotive LiDAR market regionally.

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What Is Covered In The Automotive LiDAR Market Global Market Report?
- Market Size Analysis: Analyze the Automotive LiDAR Market size by key regions, countries, product types, and applications.

- Market Segmentation Analysis: Identify various subsegments within the Automotive LiDAR Market for effective categorization.

- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.

- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.

- Market Contribution: Evaluate contributions of different segments to the overall Automotive LiDAR Market growth.

- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.

- Industry Challenges: Analyze challenges and risks affecting the Automotive LiDAR Market.

- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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