Surging Demand For Semi-Autonomous And Fully Autonomous Vehicles Fuels Automotive Lidar Market Growth: Key Factor Driving The Growth In The Automotive LiDAR Market

The Automotive LiDAR Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Automotive LiDAR Market Size During the Forecast Period?
The increase in the market size of automotive LiDAR has been exponential in the past years. It is projected to expand from $0.81 billion in 2024 to $1.08 billion in 2025, showing a compound annual growth rate (CAGR) of 34.1%. Factors contributing to this growth during the historic period include enhanced safety and autonomous driving, regulatory and safety standards, an influx in electric and connected vehicles, competition along with industry investments, cost reduction and scalability aspects, as well as mapping and infrastructure evolution.

There is an anticipation of substantial expansion in the automotive LiDAR market in the upcoming years, with projections indicating a rise to $3.35 billion in 2029 at a CAGR of 32.6%. The growth during this period is likely to be driven by factors such as the advancement of autonomous vehicles, competitive investments in the market, an uptick in consumer knowledge and demand, electrification and greater connectivity of vehicles, as well as infrastructure growth and the rise of smart cities. Key trends predicted for this period encompass advancements in solid-state lidar, its integration in ADAS and self-driving cars, multi-sensor fusion, mass production, cost cuts, and improved perceptual capabilities.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8944

What Are the High-Growth Segments in the Automotive LiDAR Market?
The automotive LiDAR market covered in this report is segmented -

1) By Product: Aerial, Mobile, Terrestrial Or Static, Short-Range
2) By Technology: Solid-State LiDAR, Mechanical Or Scanning LiDAR
3) By Vehicle Type: IC Engine Vehicles, Hybrid Electric Vehicles (HEVS), Plug-In Hybrid Electric Vehicles (PHEVS), Battery Electric Vehicles (BEVS)
4) By Components: Laser, GPS Or GNSS Receiver, Camera, Inertial Navigation System, Micro Electro Mechanical System
5) By Application: Semi-Autonomous, Autonomous

Subsegments:
1) By Aerial: Drone-Mounted LiDAR, Helicopter-Mounted LiDAR
2) By Mobile: Vehicle-Mounted LiDAR Systems, Portable LiDAR Units For Mapping
3) By Terrestrial Or Static: Ground-Based LiDAR Systems, Fixed Installation LiDAR Systems
4) By Short-Range: LiDAR For Obstacle Detection, LiDAR For Close-Range Mapping

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8944&type=smp

What Key Drivers Are Expected to Influence Future Automotive LiDAR Market Growth?
The surge in interest for semi-autonomous and fully autonomous vehicles considerably escalates the progression of the automotive LiDAR market. An autonomous or self-driving vehicle infers a vehicle equipped with environmental sensing abilities and independent operation. These vehicles can sense their environment and function devoid of human intervention. Automotive LiDAR sensors are employed by autonomous vehicles to construct detailed 3D maps for a 360-degree view and precise data to assist self-navigation and object identification. For example, in June 2022, a report issued by Gerber Injury Law, a law firm based in the US, projected that the industry for self-driving vehicles would escalate by 16% annually, attaining a value of a trillion dollars by 2025. Hence, the escalating demand for semi-autonomous and fully autonomous vehicles propels the automotive LiDAR market.

Which Companies Hold the Largest Share Across Different Automotive LiDAR Market Segments?
Major companies operating in the automotive LiDAR market include Continental AG, Ibeo Automotive Systems GmbH, Innoviz Technologies Ltd., LeddarTech Inc., Luminar Technologies Inc., Ouster Inc., Robert Bosch GmbH, Velodyne Lidar Inc., Denso Corporation, Leica Geosystems AG, Mira Solutions Inc., Argo AI LLC, ZF Friedrichshafen AG, Quanergy Systems Inc., AEye Inc., Blackmore Sensors and Analytics Inc., Cepton Technologies Inc., Hesai Technology Co. Ltd., Suteng Innovation Technology Co. Ltd., Blickfeld GmbH, Innovusion Inc., Aeva Technologies Inc., Baraja Pty Ltd, XenomatiX NV, Benewake Co. Ltd., Phantom Intelligence Inc., HoloMatic Technologies Co. Ltd., LeiShen Intelligent Systems Co. Ltd.

What Trends Are Driving Growth in The Automotive LiDAR Market?
The primary trend emerging in the automotive LiDAR market is the advancement of technology. Several key players in the market are focusing on incorporating new tech advancements, such as array transceiver technology, to optimize the performance of LiDAR systems and augment their functionality in self-driving cars. For example, in November 2022, RoboSense, an intelligent LiDAR technology firm from China, released its RS-LiDAR-E1 or simply E1, a flash solid-state LiDAR that utilizes proprietary chips and a novel technological platform. E1, a brand-new product platform, is founded on area array transceiver technology and custom-designed chips. It features a simple bill of materials without any moving parts and is designed for direct factory installation and mass production. RoboSense intends to work with partners through E1 to bridge the perception gap in intelligent driving and bolster the ability of automated and self-driving cars to function effectively in all conditions.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/automotive-lidar-global-market-report

What Are the Emerging Geographies for The Automotive LiDAR Market Growth?
Asia-Pacific was the largest region in the automotive LiDAR market share in 2024. The regions covered in the automotive lidar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive LiDAR Market?
2. What is the CAGR expected in the Automotive LiDAR Market?
3. What Are the Key Innovations Transforming the Automotive LiDAR Industry?
4. Which Region Is Leading the Automotive LiDAR Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.