Automotive LiDAR Market Size By Type (Mechanical, Solid-State), By Vehicle (Autonomous, Semi-Autonomous), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024

Published Date: Sep 2018  |  Report ID: GMI2911  |  Authors: Ankita Bhutani, Preeti Wadhwani

Report Format: PDF   |   Pages: 180   |   Base Year: 2017




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Automotive LiDAR Market size surpassed USD 150 million in 2017 and is anticipated to grow at over 40% CAGR from 2018 to 2024. Increasing research activities for the development of the autonomous vehicles will fuel the industry growth.
 

The automotive manufacturers are evolving to cope up with the changing market dynamics and collaborating with the tech giants to achieve the goals of self-driving cars. The players such as General Motors, Waymo, Uber, and Apple are engaged in developing their own self-driving vehicles. These companies already started testing their self-driving vehicles on the roads and are looking forward to the mass-production for commercialization of such vehicles by 2020. As LiDAR is the key enabling factor in the autonomous vehicles, the mass production of autonomous vehicles is augmenting the demand for LiDAR sensors.
 

Automotive LiDAR Market

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The high costs and low durability of the existing LiDAR technology are the major factors plaguing the development of the market. This has driven most of the companies to avoid the technology altogether. The existing LiDAR technology uses mechanical LiDAR sensors on the roof. Most of these mechanical LiDAR sensors have a limited range and durability, which has made the automakers wary of investing in this technology.
 

Automotive LiDAR Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 150 Million (USD)
Historical Data for: 2016 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 40% 2024 Value Projection: 3 Billion (USD)
Pages: 180 Tables, Charts & Figures: 249
Geographies covered (15): U.S., Canada, UK, Germany, France, Netherlands, Sweden, China, India, Japan, South Korea, Singapore, Brazil, Mexico, UAE
Segments covered: Type, Vehicle and Region
Companies covered (25): Argo, Benewake, Cepton, Continential, AEye, Hesai, IFM, Innoviz Technologies, LeddarTech, LeiShen Intelligent System, Luminar, Ocular Robotics, Omron, Oryx, Ouster, Panasonic, Quanergy, Robosense, Sense Photonics, Strobe, Sure Star, Tetravue, Valeo, Velodyne, Xenomatix
Growth Drivers:
  • Increasiong R&D activities for autonomous vehicles
  • Growing supply demand gap
  • Supportive governeMillion (USD)t initiatives and policies
  • Entry of new players in the LiDAR market
  • Rising investment in AutoTech
Pitfalls & Challenges:
  • High cost of LiDAR
  • Presence of the substitute products

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Market, By Type

The mechanical LiDAR is expected to lead the market owing to growing demand in autonomous vehicles. It has been widely used in the self-vehicles due to its high accuracy and reliability in ADAS applications. These sensors are also integrated into the new functionalities such as 3D mapping and car-surround sensors. However, the expensive nature of the mechanical LiDAR technology has restricted its use in the semi-autonomous.  
 

The solid-state automotive LiDAR market is estimated to grow substantially through 2024. The solid-state LiDAR technology is currently in the development phase and is not commercialized yet. Moreover, the technology is gaining a lot of traction as it is cost-effective, faster, and provides high-quality data as compared to conventional LiDAR sensors. Additionally, the companies are conducting various strategic initiatives to accelerate the innovation process.
 

Automotive LiDAR Industry, By Vehicle

The semi-autonomous vehicle segment captured more than 40% market share in 2017 driven by the rapid integration of the advanced driving assistance systems into the vehicles. The LiDAR sensors have been used extensively in semi-autonomous vehicles to enable traffic adaptive cruise control & lane keeping. It enables the cruise control system to automatically handle the acceleration and braking functionalities without any human intervention. It also provides the lane keeping system with steering inputs to keep the vehicles within the lane.
 

The autonomous vehicle segment is projected to observe approximately 35% growth rate from up to 2024. The swift development of the autonomous vehicles has developed numerous opportunities for the market growth of automotive LiDAR sensors. The sensors are being widely used in the autonomous vehicles to control braking, speeding, and safety systems in response to changes in the external environment.
 

Regional Insights

North America dominated the automotive LiDAR market with around 70% share in 2017 propelled by increasing research activities for the development of autonomous vehicles in the region. The supportive government policies related to the testing of autonomous vehicles and investments for driving the research activities by the government have also fueling the market growth.
 

Asia Pacific market is poised to witness 60% CAGR through 2024 led by research activities and investments in autonomous vehicles by the Chinese players. The favorable government initiatives in countries including China, Japan, and South Korea to commercialize the self-driving car are also estimated to augment the regional market demand.
 

Competitive Market Share

The major players in the automotive LiDAR market are Leddertech, Quanergy, Continental, Velodyne, Luminar Technologies, Innoviz Technologies, Aptiv, Magna, Uber, ZF, Blackmore Sensors and Analytics, Trilumia, Oryx Vision, Audi, BMW, Nissan, Mercedes-Benz, Tesla, and Volvo. The strong growth potential for the market has attracted new players. These new players are attracting robust investments from various automakers and financial firms to develop an innovative product portfolio.
 

The industry players are forming partnerships with other LiDAR developers and conducting R&D activities to strengthen their product portfolio and to expand their market share.
 

The market research report on automotive LiDAR includes an in-depth coverage of the industry with estimates & forecast in terms of shipments in units and revenue in USD respectively from 2016 to 2024, for the following segments:
 

Market, By Type

  • Mechanical
  • Solid-State

Market, By Vehicle

  • Semi-autonomous
  • Autonomous

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • The Netherlands
    • Sweden
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Singapore
  • Latin America and MEA
    • Brazil
    • Mexico
    • UAE
       

Frequently Asked Questions (FAQ) :

The market size of automotive LiDAR crossed a value of USD 150 million in 2017.
The industry share of automotive LiDAR will witness CAGR of over 40% up to 2024.
APAC market will grow at a CAGR of over 60% during the forecast timeline driven by research activities and investments in autonomous vehicles by the Chinese players.
North America is leading the global industry with over 70% share due to presence of prominent automakers and technology startups, along with strong government support towards the development of autonomous cars.
According to the analysts at GMI, the autonomous vehicles in the market will observe around 35% growth through 2024.
Mechanical LiDAR is widely being deployed in autonomous vehicle applications owing to its reliability, high accuracy, and the ability of the sensors to offer 3D mapping features.

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Premium Report Details

  • Published Date: Sep 2018
  • Pages: 180
  • Tables: 216
  • Charts / Figures: 33
  • Companies covered: 25
  • Countries covered: 15

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