June 2024: Innoviz Tech has announced its partnership with the major OEMs to develop L4 autonomous vehicle capabilities.
According to MarkNtel Advisors study, The Global Automotive LiDAR Market size was valued at around USD 510 million in 2023 & is estimated to grow at a CAGR of around 18.5% during the forecast period, 2024-30.
Companies, to enhance the L3 or achieve the L4 autonomy in automobiles, are driving innovation and are considering the adoption of LiDAR as a possible solution. Consider a scenario in which an automobile with its self-driving feature enabled is traveling at a speed of 100 kmph. Suddenly an object came in front of it just 200 meters away, the automobile needed to have capability enough to detect it, process it, and make a decision to ensure safe navigation in about 7 seconds. This is where the need for a sophisticated Automotive LiDAR system comes in, as its ability to map the surrounding environment in detail in real time ensures a rapid and accurate assessment of the obstacle in response to the changing dynamics on the road.
The development of such scenarios is resulting in heavy investments in the R&D and integration of advanced LiDAR technology in autonomous vehicles for better reliability and safety. This will boost the navigational capabilities for L4 and possible L5 autonomy of an automobile and fuel the Automotive LiDAR Market Share in the coming years.
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Key Findings in Automotive LiDAR Market:
| Historical Years | 2019-2022 |
| Base Years | 2023 |
| Forecast Years | 2024-2030 |
| Key Report Highlights | · Market Dimensions & Projections· Pricing Evaluation,· Recent Strategic Moves by Companies,· Primary Stakeholders,· Analysis of Import and Export Trends,· Competitive Landscape Assessment,· Emerging Opportunities,· Market Trends and Indicators |
| Reports Delivery Format | Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address. |
Automotive LiDAR Market Key Players:
Delphi Automotive, PLC, Continental AG, ZF Friedrichshafen AG, Infineon Technologies AG, Velodyne LiDAR, Inc., Texas Instruments, Inc., Leddartech, Inc., First Sensor AG, Quanergy Systems, Inc., Innoviz Technologies, Ltd., Luminar Technologies, Ouster, Inc., Robert Bosch GmbH, Valeo, Benewake (Beijing) Co., Ltd., Others
Market Segmentation Overview:
By Technology
-Mechanical
-Solid-state
By Application
-Autonomous
-Semi-Autonomous
The semi-autonomous segment holds the largest market share in terms of application, in the Global Automotive LiDAR Market. Since there are more semi-autonomous vehicles in the world as compared to autonomous vehicles, this becomes one of the most critical reasons for its high growth. With autonomous vehicles still in the developing phase, the companies prefer the usage of LiDAR technologies to add advanced driver assistance functionalities in the automobile to enhance customer experience. A trend reversal is possible soon with the growth of autonomous vehicles. The market will still grow at a rapid rate because of its high potential.
By Range
-Short & Mid-Range (Up to 200 meters)
-Long Range (Above 201 meters)
By Image Processing
-2-D
-3-D
-4-D
By Location
-Bumper and Grill
-Headlight and Taillight
-Roof and Upper Pillar
-Others (Windscreen, Rear View Mirrors, etc.)
By Vehicle Type
-Passenger Vehicles
–Internal Combustion Engine (ICE) Vehicle
–Electric Vehicle (EV)
-Commercial Vehicles
By Demand Type
-OEM
-Replacement
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By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The Automotive LiDAR Industry Recent Development:
April 2024: Luminar Technologies unveiled its next-generation integrated lidar product, which will boost lidar performance while cutting costs and offering better scalability. The company also announced that it had begun shipping its sensors “at scale” as standard equipment for a new electric vehicle from the global automaker Volvo.
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