Global Automotive LiDAR Market Segments 2024, Forecast To 2033
5 Mar, 2024
The automotive LiDAR market has undergone exponential growth, soaring from $0.61 billion in 2023 to $0.82 billion in 2024, with a remarkable 35.2% CAGR. This growth is credited to safety and autonomous driving, regulatory and safety standards, the rise in electric and connected vehicles, industry competition and investments, cost reduction, and scalability, along with mapping and infrastructure development. The forecast envisions exponential growth to $2.53 billion in 2028, fueled by autonomous vehicle development, market competition, increasing consumer awareness and demand, electric and connected vehicle growth, and infrastructure development. Key trends include advancements in solid-state LiDAR, integration in ADAS and autonomous vehicles, multi-sensor fusion, mass production, cost reduction, and enhanced perception capabilities.
Global Automotive LiDAR Market Key Driver
The automotive LiDAR market is poised for growth with the increasing demand for semi-autonomous and fully autonomous vehicles. Self-driving vehicles, projected to witness a 16% annual growth, utilize LiDAR sensors for 3D mapping and precise navigation. The exponential growth in the autonomous vehicle industry drives the automotive LiDAR market.
Get A Free Sample Of The Global Automotive LiDAR Market ReportGlobal Automotive LiDAR Market Segments
The automotive lidar market covered in this report is segmented –
1) By Product: Aerial, Mobile, Terrestrial/Static, Short-Range
2) By Technology: Solid-State LiDAR, Mechanical/Scanning LiDAR
3) By Vehicle Type: IC Engine Vehicles, Hybrid Electric Vehicles (HEVS), Plug-In Hybrid Electric Vehicles (PHEVS), Battery Electric Vehicles (BEVS)
4) By Components: Laser, GPS/GNSS Receiver, Camera, Inertial Navigation System, Micro Electro Mechanical System
5) By Application: Semi-Autonomous, Autonomous
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the automotive LiDAR market share in 2023. The regions covered in the automotive lidar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Automotive LiDAR Industry Players
Continental AG; Ibeo Automotive Systems GmbH; Innoviz Technologies Ltd.; LeddarTech Inc.; Luminar Technologies Inc.; Ouster Inc.; Robert Bosch GmbH; Velodyne Lidar Inc.; Denso Corporation; Leica Geosystems AG; Faro Technologies Inc.; Mira Solutions Inc.; Argo AI LLC; ZF Friedrichshafen AG; Quanergy Systems Inc.; AEye Inc.; Blackmore Sensors and Analytics Inc.; Cepton Technologies Inc.; Hesai Technology Co. Ltd.; Suteng Innovation Technology Co. Ltd.; Blickfeld GmbH; Innovusion Inc.; Aeva Technologies Inc.; Baraja Pty Ltd; XenomatiX NV; Benewake Co. Ltd.; Phantom Intelligence Inc.; CeoTronics AG; HoloMatic Technologies Co. Ltd.; G&A Gipfel Auto Co. Ltd.; LeiShen Intelligent Systems Co. Ltd.
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AIOps Automotive LiDAR Market Overview
Automotive LiDAR is a technique for sensing that locates objects and gauges their distances. The method involves illuminating a target with an optical pulse and analyzing the properties of the returned signal that is reflected. The optical pulse's width can be anything between a few nanoseconds and many microseconds.
Automotive LiDAR Global Market Report 2023 provides data on the global automotive lidar market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive lidar market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.