Automotive LiDAR Sensors Market Anticipates Steady 30.8% CAGR Through 2030

Automotive LiDAR Sensors Market Snapshot

“The Automotive LiDAR Sensors Market is estimated to increase at a CAGR of 30.8% from $ 163.78 Billion in 2023 to $ 623.15 Billion by 2030.”

Automotive LiDAR sensors enhance vehicle navigation by detecting and avoiding road hazards. These light detections and ranging sensors consist of a laser, scanner, and GPS receiver. The laser generates an optical pulse, which is transmitted to the target.

The time it takes for the pulse to bounce back and reach the receiver is measured, and the target's distance is estimated. This technology provides 3D mapping of the vehicle's surroundings, making it a fundamental pillar in autonomous cars, ensuring a secure environment.

LiDAR, or light detection and ranging, is a technology used by most automobiles to navigate their surroundings using pulsed laser pulses. It uses laser rays to determine the depth of objects within a 60-meter circle, and can generate a 3D map for user navigation.

This feature is crucial for driverless autos, Level 3 (semi-autonomous) and Level 4 (autonomous) vehicle automation, and is widely used by automakers developing self-driving vehicles.

Lidar, a measurement method since the 20th century, measures the time between occurrences of light-induced events. A vehicle's LiDAR sensor releases laser pulses that collide with nearby objects, generating photons that bounce back to the sensor. The system calculates distance and time to each item in the vehicle's vicinity, and stores roundtrip data for each photon.

The International Energy Agency predicts electric two- and three-wheeler sales will reach 50 million by 2030, accounting for over half of overall sales.

Valeo plans to debut its third-generation scanning LiDAR in May 2022, with a commercial launch in 2024, aiming to improve performance, resolution, and frame rate for driverless vehicles, ultimately increasing market demand for automotive lidar.

The automotive lidar business is primarily driven by government mandates to enhance vehicle safety standards, as the rise in road fatalities has prompted authorities to prioritize safety improvements.

>>>Download Sample Report Now:https://marketreportservice.com/request-sample/automotive-lidar-sensors-market-54659 

Growth Drivers

The rise in self-driving cars is driving the deployment of LiDAR sensors, which enhance vehicle safety by providing real-time collision prevention data, and government regulations promoting the use of these advanced safety features.

The high initial costs of LiDAR sensors hinder mass-market adoption, necessitating technological solutions to address issues like sensor reliability and integration into existing vehicle systems.

The market for automotive ADAS (Advanced Driving Assistants) is expected to grow due to the significant role of LiDAR sensors in enhancing object identification capabilities even in complete darkness.

Despite being primarily accessible in high-end vehicles due to its high cost, the growth of the ADAS ecosystem and technological advancements are expected to bring it into the general market.

Integrated ADAS SoCs can combine sensor data streams, process large amounts of real-time data, and improve ADAS flexibility and control.

Market Trends

“The increasing demand for autonomous vehicles and electric automobiles is positively affecting the market growth.”

• The automotive Lidar market is driven by the increasing demand for autonomous and electric vehicles, rising fuel prices, and government initiatives towards zero-emission or battery-powered vehicles.
• The International Energy Agency predicts that electric two- and three-wheeler sales will reach 50 million by 2030, accounting for over half of overall sales.
• Valeo plans to debut their third-generation scanning LiDAR in May 2022, with a commercial launch in 2024, aiming to improve performance, resolution, and frame rate for driverless vehicles.
• The automotive lidar business is primarily driven by government mandates to enhance vehicle safety standards, as the rise in road fatalities has prompted authorities to prioritize safety improvements.

Opportunities

• As autonomous driving gains global popularity, opportunities will arise in emerging regions.
• Sensor miniaturization refers to the advancements in sensor technology that aim to reduce costs and improve efficiency.

Automotive LiDAR Sensors Market Segment Analysis

“Semi-Autonomous Vehicles”

Semi-autonomous cars, which can operate without human intervention, are set to be available within five years. This Level 3 automation advancement will impact transportation practices for companies that buy or rent cars, prompting careful consideration of how this technology will impact their operations.

The adoption of semi-autonomous vehicles and advanced driver assistance systems is anticipated to reduce the number of auto accidents and have a big impact on the auto insurance market because rating systems will need to be updated to ensure that risks are accurately assessed.

Driving habits and usage-based insurance research are examined to determine how driving habits affect the likelihood of an accident. This serves as the foundation for discussing safety and risk assessment for cars with speed control capabilities. Using an actual telematics data set, the impact of excessive speed on the risk of accidents is assessed.

“Autonomous Vehicles”

Autonomous cars utilize radar, GPS, cameras, and lidar technologies to monitor and map their surroundings in three dimensions, including road signs, traffic signals, pedestrians, and street infrastructure.

These sensors continuously communicate changes, allowing computer systems to make decisions about vehicle operation, such as steering, cruising speed, acceleration, and braking.

Automated vehicle systems utilize artificial intelligence and machine learning to learn from complex data, improving their algorithms and road navigation capabilities.

This technology allows vehicles to make decisions without precise instructions for every scenario, enabling them to function without requiring precise instructions for every driving scenario.

Competitive Landscape of the Automotive LiDAR Sensors Market Analysis

• Delphi Automotive (U K.)
• Continental AG (Germany)
• ZF Friedrichshafen (Germany)
• Infineon Technologies (Germany)
• Velodyne LiDAR (U.S.)
• Texas Instruments Incorporated (U.S.)
• First Sensor AG(Germany)
• Robert Bosch (Germany)
• Ibeo Automotive (Germany)
• Quanergy Systems (U.S.)
• Valeo S.A. (France)
• Denso (Japan)
• PulsedLight (U.S.)

New Developments in Automotive LiDAR Sensors Market

September 15, 2022- Paving the Way for Autonomous Trucks: Continental Presents Modular Multi-Sensor Solution

Continental is presenting an innovative sensor solution for commercial vehicles at this year’s IAA TRANSPORTATION in Hanover (September 20 to 25).

A significant increase in transport volumes, enormous growth in the equipment rates of trucks with new assistance systems and increasingly complex fleet management require innovative technologies and products for efficient technology integration in the commercial vehicle business.

In Jan 2022, Velodyne LiDAR, Inc. revealed plans to build a new generation of LiDAR as well as a type 4 type 4 driverless automobile by 2024. This was intended to improve the company's core focus on making autonomous vehicles more precise and inexpensive.

In February 2021, Valeo announced a $5 million investment in a new assembly plant in Jefferson County, Alabama, near the city of Bessemer, which will create 70 employments.

In December 2021, Innoviz Technologies Ltd. announced the successful launch of the first B samples of the automotive-grade InnovizTwo LiDAR sensor. This next-generation technology will aid in offering an unrivalled mix of range, resolution, and field of view, with a 30x performance boost over InnovizOne LiDAR and a 70% cost savings.

Regional Analysis of Global Automotive LiDAR Sensors Industry

“In 2022, Asia Pacific held the largest revenue share in the Automotive LiDAR Sensors market.”

The Asia Pacific Automotive lidar Sensors industry is expected to lead due to the growing demand for robust technology and autonomous vehicles in developing economies.

China is the largest contributor to the market, driven by increased mobility services and infrastructure development. Primary countries analyzed include the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

The North American car industry is dominated by utility vehicles like pickup trucks, SUVs, and crossovers, while recreational vehicles are popular in the US and Mexico due to their versatility for personal and commercial use, and their strong sales in varied terrains.

Segments Covered in the Automotive LiDAR Sensors Market Report

Segment By Application Type Outlook

• Semi-Autonomous
• Vehicles
• Autonomous Vehicles

Segment by Image Type Outlook

• 2D Image
• 3D Image

Segment by Placement Outlook

• Headlight & Taillight
• Bumpers
• Roof
• Others

Market by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• Rest of the World
• Middle East
• Africa
• Latin America

Frequently Asked Questions

What is the expected growth rate of the Automotive LiDAR Sensors market over the next 7 years?

The Automotive LiDAR Sensors Market is estimated to increase at a CAGR of 30.8% from $ 163.78 Billion in 2023 to $ 623.15 Billion by 2030.

Who are the major players in the Automotive LiDAR Sensors market and what is their market share?

Delphi Automotive (U K.), Continental AG (Germany), ZF Friedrichshafen (Germany), Infineon Technologies (Germany), Velodyne LiDAR (U.S.), Texas Instruments Incorporated (U.S.),First Sensor AG(Germany),Robert Bosch (Germany), Ibeo Automotive (Germany), Quanergy Systems (U.S.),Valeo S.A. (France),Denso (Japan), PulsedLight (U.S.), are prominent players operating and dominating in the market.

Who are the top 3 Automotive LiDAR Sensors Market Key Vendors?

Delphi Automotive (U K.), Continental AG (Germany), ZF Friedrichshafen (Germany), are key players in the Automotive LiDAR Sensors market.

Which geographical areas dominate the worldwide market for Automotive LiDAR Sensors?

Asia Pacific region are emerging as the top regional markets for Automotive LiDAR Sensors solutions.