Automotive LiDAR Market Growth & Trends
The global automotive LiDAR market size is expected to reach USD 942.1 million by 2030, registering a CAGR of 9.4% during the forecast period, according to a new report by Grand View Research, Inc. The surging acceptance of automobile safety application arenas and sophisticated technology incorporations in automobile driving automation are expected to boost the market growth. The increasing acceptance for semi-autonomous and autonomous cars in the years to come is further anticipated to bolster the market growth.
The market can be categorized, based on application types, into Advanced Driver Assistance Systems (ADAS) & autonomous cars. The ADAS application segment is further segregated into Automatic Emergency Braking (AEB) and Adaptive Cruise Control (ACC). The ADAS application segment is expected witness a significant growth, owing to the surging incorporation of forward-collision avoidance systems.Adaptive cruise control (ACC) is adiscretionary cruising choice for automobiles that robotically modifies the vehicle speed to retain a safe distance from vehicles ahead.The rising adoption of these systems in autonomous and semi-autonomous cars at various levels of automation is expected to draw huge ventures from the key participants, thus driving the regional market demand in the years to come.
Access the Automotive LiDAR Market Size, Share & Trends Analysis Report By Technology (Mechanical LiDAR, Solid-state LiDAR), By Application, By Propulsion Type, By Vehicle Type, By Region, And Segment Forecasts, 2024 - 2030
In October 2016, Infineon Technologies AG (Germany) acquired Innoluce BV (The Netherlands), a fabless semiconductor company headquartered in Nijmegen. Infineon says it would develop chip components for high-performance LiDAR systems by utilizing Innoluce’s patented technology. This acquisition is expected to establish Infineon’s strong foothold as one of the automotive safety technologies vendors.
Automotive LiDAR Market Report Highlights
· Based on the application, the global automotive LiDAR market is segmented into ADAS and autonomous cars. The ADAS segment is further sub-segmented into automatic emergency braking (AEB) and adaptive cruise control (ACC).
· The autonomous cars segment is estimated to register the healthy growth over the forecast period. This growth is attributed to increasing demand for advanced driver assistance systems (ADAS) and self-driving vehicles.
· North America dominated the market and accounted for the largest revenue share of 34.9% in 2022.
· Asia Pacific is expected to register rapid growth over the forecast period. Advancements in LiDAR technology, such as the development of solid-state LiDAR and the miniaturization of sensors, are driving market growth in the region.
Order your free sample copy of “Automotive LiDAR Market Report 2024 - 2030, published by Grand View Research
Key Automotive LiDAR Company Insights
The competitive landscape of the automotive LiDAR market is dynamic and characterized by a mix of established players, innovative startups, and new entrants. Major automotive OEMs and technology companies are increasingly investing in the vertical integration of LiDAR technology, aiming to have more control over the supply chain and differentiate their offerings. Partnerships and collaborations between LiDAR suppliers, automotive OEMs, and technology companies are becoming more prevalent to drive the adoption and integration of LiDAR in the automotive industry. As the technology matures, differentiation through software capabilities, manufacturing scalability, and integration expertise is becoming increasingly important in automotive LiDAR market.
Key Automotive LiDAR Companies:
The following are the leading companies in the automotive LiDAR market. These companies collectively hold the largest market share and dictate industry trends.
· Continental AG
· Denso Corporation
· Innoviz Technologies
· LeddarTech Inc.
· KUBOTA Corporation
· Quanergy Solutions, Inc.
· Robert Bosch GmbH
· Teledyne Geospatial
· Valeo
· Velodyne LiDAR, Inc.
Explore Horizon, the world’s most expansive market research database
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
