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Solid State Automotive LiDAR Market - Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

  • Report ID: GMI2519

Solid State Automotive LiDAR Market

Solid State Automotive LiDAR Market size is expected to exhibit significant CAGR from 2024 to 2032, propelled by the surging popularity of autonomous vehicles and the hefty investments directed towards developing and commercializing autonomous vehicle technology.  To cite an instance, in July 2023, the Saudi Ministry of Investment inked an MoU with Rigel Capital Management and Clevon for developing investments in automotive manufacturing as well as autonomous vehicle technology.
 

Major drawbacks, such as higher costs as well as weather sensitivity and bulky sizes associated with early LiDAR systems may restrict the demand for LiDAR systems to some extent. Rising competition from other sensing technologies, such as radar and cameras along with lack of standardization and the uncertainties stemming from evolving regulatory requirements will also affect the technology adoption. However, new solid-state LiDARs are increasingly designed by manufacturers to solve the cost, reliability, size, and complexity issues related to mechanical scanning LiDARs.
 

Solid State Automotive LiDAR Market Trends

The automotive industry is witnessing the influx of several game changing technologies over the last decade, including driverless car prototypes and automotive ECU (electronic control units). In addition to large-scale autonomous vehicle commercialization, solid state LiDAR technology is continuously explored for a wide range of applications, including fully automated driving, parking assistance, forward collision warning and automatic emergency braking. The surging need for next-generation sensors devoid of moving parts on the micro and macro scale for ensuring highest level of longevity, dependability, reliability, performance, and cost efficiency will add to the solid state automotive LiDAR industry growth.
 

Solid State Automotive LiDAR Market Analysis

Based on range, the medium range LiDAR segment is expected to account for a considerable share of the solid-state automotive LiDAR industry by 2032. Medium-range solid-state LiDAR sensors are well-suited for advanced driver assistance systems (ADAS) and autonomous driving applications as they facilitate lane-keeping assistance, adaptive cruise control, and obstacle detection. Given their ability to effectively detect objects and obstacles at moderate distances while allowing vehicles to safely navigate complex traffic scenarios and city streets, medium-range LiDAR is particularly useful in urban and suburban driving environments.
 

Regionally, Europe solid state automotive LiDAR market is anticipated to record robust growth between 2024 and 2032. This can be attributed to the strong presence of numerous well-established global automotive manufacturers in the region. The ongoing R&D efforts for enhancing the performance of solid-state LiDAR sensors, such as improvements in range, resolution, and effective operations in various environmental conditions will also contribute to the regional industry growth. For instance, in September 2022, LiDAR sensor technology firm Blickfeld offered sensor solutions to FH Aachen in line with an EU-funded project in railway automation for developing a train shunting assistance system for enhancing automated detection of objects on tracks.
 

Solid State Automotive LiDAR Market Share

Leading solid-state automotive LiDAR companies are aggressively working on technology innovations and new product developments for commercializing next-generation LiDAR systems in the automotive sector. A pioneer in automotive LiDAR, LeddarTech provides some of the most robust, flexible, and accurate ADAS and AD sensing technologies. In May 2022, the company released LeddarSteer™, its solid-state automotive-grade digital beam steering solution for LiDAR sensor developers.
 

 Some of the prominent solid-state automotive LiDAR market players include:

  • Innoviz
  • Quanergy
  • LeddarTech
  • Innovusion
  • Infineon Technologies
  • Velodyne LiDAR
  • Continental AG
  • Delphi Automotive
  • AEye
  • Benewake
  • Cepton
  • Luminar
  • Robosense
     

Solid State Automotive LiDAR Industry News

  • In March 2023, RoboSense, launched the RS-Fusion-P6 (P6), its maiden solid-state LiDAR perception tech for L4 autonomous driving to help in easily navigating through complex driving scenarios.

What Information does this report contain?

Historical data coverage: 2018 to 2023; Growth Projections: 2024 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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