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Automotive LiDAR Market Size By Type (Mechanical, Solid-State), By Vehicle (Autonomous, Semi-Autonomous), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI2911
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Statistics

Automotive LiDAR Market size exceeded USD 450 million in 2022 and is projected to expand at more than 65% CAGR from 2023 to 2032. Growing integration of sensing technology in autonomous vehicles will positively influence the industry growth.
 

Automobile manufacturers consider LiDAR as a key enabling technology for self-driving vehicle development. This sensor can adapt to all light conditions and evaluate parameters such as raindrop density and braking distance for autonomous cars. Automakers have also been joining hands with self-driving service providers worldwide to fuel LiDAR technology development.
 

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Solid-state automotive LiDAR sensors, however, are considered expensive for mass production. Their optical designs also have inherent optical inefficiencies, reducing the signal intensity and limiting the range and performance. Additionally, the performance optimization of this technology is associated with significant challenges. These product limitations may restrain industry expansion to some extent. Despite these challenges, the rise in investments to improve vehicle sensor technologies will support the growth of automotive LiDAR suppliers globally.
 

High-resolution imaging ability to boost solid-state LiDAR sensor usage

Automotive LiDAR market from the solid-state segment is slated to depict over 85% CAGR through 2032. Compared to traditional LiDAR technology, automotive solid-state LiDAR sensors are cost-effective and provide high-resolution data. This sensor also has an edge over radars in delivering an accurate picture of the surroundings of vehicles. Moreover, the increasing collaboration among automakers to lower the price of LiDAR systems will further accelerate sensor deployment.
 

Flash LiDARs based on solid-state designs can deliver performance, range, and all-weather reliability at lower costs and higher MTBF over mechanical scanning LiDARs. In addition, they can offer improved detection rates and accuracy as compared to cameras, radars, or other sensor types. This technology can be integrated into automated systems to facilitate electronic toll collection. The growing awareness of these benefits will augment the use of solid-state LiDAR sensing technology in vehicles.
 

Focus on safety & reliability to drive LiDAR integration in autonomous vehicles

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The autonomous vehicle segment accounted for around 30% of the automotive LiDAR market share in 2022, given the escalating government investment in self-driving vehicle development projects. In October 2022, the UK government pledged USD 100 million to ensure the consistent development of autonomous vehicles. As a result, the demand for automotive LiDAR sensors is likely to surge, given their ability to provide reliable and precise navigation to detect vehicles, people, and objects in real time. Self-driving vehicles equipped with LiDAR can also efficiently and safely navigate dynamic and unfamiliar environments for optimal safety, further contributing to product consumption.
 

Autonomous car commercialization initiatives to proliferate LiDAR sensor usage in APAC

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Asia Pacific automotive LiDAR market size is expected to record nearly 80% gains through 2032, due to the increasing R&D and investments in self-driving cars. In countries such as Japan, China, and South Korea, favorable government initiatives are being taken to commercialize autonomous cars. Citing an instance, in October 2022, the Japanese government announced plans to avail mobility services that feature Level 4 vehicles in 40 areas and 100 areas by 2025 and 2030 respectively.
 

Strategic collaborations among industry players to define the competitive landscape

Top companies operating in the automotive LiDAR market are XenomatiX N.V., Velodyne Lidar, Inc., SICK AG, Quanergy Systems, Inc., Ouster, Inc., OMRON Corporation, Luminar Technologies Inc., LeddarTech, Inc., Innoviz Technologies Ltd., Hesai Technology, Continental AG, Cepton Technologies, Inc., Beijing SureStar Technology Co., Ltd., AEye, Inc., Argo AI, LLC, and Aurora Innovation, Inc. These leaders are emphasizing business expansions, collaborations, and product launches to strengthen their presence in the industry.
 

For instance, in April 2022, Innoviz Technologies and LiangDao Intelligence collaborated to help OEMs in China explore new customization methods for the LiDAR solutions of Innoviz. These solutions were aimed at accelerating high-resolution InnovizTwo-based LiDAR series production for the China market.
 

Impact of COVID-19 pandemic on industry trends

The coronavirus outbreak has posed unprecedented impacts on the global automobile industry owing to supply chain disruptions and economic downturns. However, autonomous vehicle developers may witness a growth trajectory, especially in the wake of the rise in contactless food delivery trends during the lockdown phase to curb viral infections. For instance, in March 2022, SEVEN FRESH, a fresh food supermarket, rolled out autonomous vehicles to ensure food supply in Shenzhen amid a rapid surge in COVID-19 cases. The deployment of self-driving vehicles for contactless food delivery will, in turn, foster the advancement of LiDAR sensing technology in autonomous car applications, creating a favorable outlook for the industry.
 

The automotive LiDAR market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:

Market Insights, By Type

  • Mechanical
  • Solid-State

Market Insights, 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
      • Netherlands
    • Sweden
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Singapore
  • Latin America and MEA
    • Brazil
    • Mexico
    • UAE

 

Authors: Preeti Wadhwani, Smriti Loomba

Frequently Asked Questions (FAQ) :

The market size of automotive LiDAR crossed USD 450 million in 2022 and is poised to depict over 65% CAGR through 2032, due to the growing integration of technology in self-driving vehicles.
The solid-state segment is projected to depict over 85% growth rate through 2023-2032, given its cost-effectiveness and high-resolution data delivery.
The APAC market is predicted to observe 80% gains till 2032, as a result of the increasing R&D and investments in the development of self-driving car technologies.
XenomatiX N.V., Velodyne Lidar, Inc., OMRON Corporation, Luminar Technologies Inc., Innoviz Technologies Ltd., Cepton Technologies, Inc., Argo AI, LLC, and Aurora Innovation, Inc. are some of the key players operating in the industry.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 21
  • Tables & Figures: 472
  • Countries covered: 15
  • Pages: 281
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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