Automotive LiDAR Market: Major Trends Reshaping the Future of the Industry

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What Will the Automotive LiDAR Industry Market Size Be by 2025?

The size of the automotive LiDAR market has seen exceptional growth in the past few years. It is projected to increase from a value of $0.81 billion in 2024 to $1.08 billion in 2025, showcasing a compound annual growth rate (CAGR) of 34.1%. The drivers of growth during the historical period include aspects such as the demand for safety and autonomous driving, the introduction of regulatory and safety standards, the proliferation of electric and connected vehicles, competition and industry investment, cost-effectiveness and scalability, as well as advancements in mapping and infrastructure.

What's the Long-Term Growth Forecast for the Automotive LiDAR Market Size Through 2029?

Expectations are high for the automotive LiDAR industry to experience a surge in its market size within the coming years. It is predicted to reach a whopping $3.35 billion by 2029, growing at a compound annual growth rate of 32.6%. Factors contributing to this anticipated growth during the forecast period incorporate the development of autonomous vehicles, increasing market competition and investment, heightened consumer consciousness and demand, expansion of electric and connected cars, infrastructure advances, and the creation of smart cities. Key trends set to unfold during the forecast period entail progress in solid-state LiDAR, integration into ADAS and self-driving vehicles, fusion of multi-sensor, rapid mass production, cost reduction, and improved perception capabilities.

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What Are the Key Growth Drivers Fueling the Automotive LiDAR Market Expansion?

The surge in demand for semi-autonomous and fully autonomous vehicles is significantly driving the growth of the automotive LiDAR market. Autonomous or self-driving vehicles, equipped with environmental sensing capabilities and able to operate independently, rely heavily on LiDAR sensors. These sensors help the vehicles develop comprehensive 3D maps, providing a full 360-degree visual and accurate data for self-navigation and object detection. As per a report from Gerber Injury Law, a US-based law firm, in June 2022, the industry of self-driving vehicles is projected to grow at a 16% annual rate, potentially reaching a trillion-dollar worth by 2025. Thus, the burgeoning demand for semi-autonomous and fully autonomous vehicles is propelling the automotive LiDAR market.

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What Are the Key Trends Driving Automotive LiDAR Market Growth?

The increasing adoption of technological innovations is a significant trend in the automotive LiDAR market. Numerous key companies in this sector are focusing on incorporating emerging technologies like array transceiver technology to enhance the efficiency of LiDAR systems and increase their application in self-driving cars. As an illustration, RoboSense, a Chinese company known for its intelligent LiDAR technology, rolled out its RS-LiDAR-E1, or E1, in November 2022. This flash solid-state LiDAR is formed on a new technological platform and proprietary chips. The E1 platform is rooted in area array transceiver technology, which uses specially designed chips. It comes with a plain bill of materials, excluding moving components and is designed to be included in factory installations and mass-produced. E1 will work alongside its partners to eliminate the perception gap in smart driving and boost the autonomous and automated cars' ability to sense in all situations.

How Is the Automotive LiDAR Market Segmented?

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

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Which Companies Are Leading the Charge in Automotive LiDAR Market Innovation?

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.

Which Regions Are Leading the Global Automotive LiDAR Market in Revenue?

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

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