DUBLIN--(BUSINESS WIRE)--The "Global Automotive LiDAR Market By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle & Heavy Commercial Vehicle), By Application (Adaptive Cruise Control, Automatic Emergency Braking), By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global automotive LiDAR market is projected to grow from $ 409.7 million in 2018 to $ 2.4 billion by 2024, exhibiting a CAGR of over 35% during the forecast period, on account of increasing popularity of semi-autonomous vehicles and technological advancements.
Surging traction of Advanced Driver Assistance System (ADAS) is further escalating the demand for automotive LiDAR across the globe. Moreover, government regulations aimed at enhancing vehicle security are anticipated to positively impact the market.
In terms of photodetector used in LiDAR, solid state LiDAR is the preferred choice, as it is lightweight, possesses smaller size and is cost-effective when compared with mechanical LiDAR. Automotive LiDAR is generally mounted on the roof, headlights & taillight, bumper & grill and others. Bumper & grill is the preferred choice of major players, as LiDAR provides better field of view without affecting the appearance of the vehicle.
In terms of application, LiDAR is put to use for applications such as adaptive cruise control, automatic emergency braking, and others. The ADAS segment is likely to be the largest segment of the global automotive LiDAR market until 2024, as it enables vehicles to enable traffic adaptive cruise control and lane keeping. Moreover, automatic acceleration and braking functionality without any human intervention is further prompting the growth of the market.
Regionally, the global automotive LiDAR market is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe & CIS, South America and the Middle East & Africa.
The North American automotive LiDAR market dominated the global market in 2018 and is anticipated to maintain its leading position during the forecast period. The penetration of vehicles equipped with LiDAR for adaptive cruise control and automatic emergency braking is high in the region. Moreover, North America is witnessing increased testing of autonomous vehicles by major automotive suppliers and start-ups.
Some of the main players operating in the global automotive LiDAR market are Quanergy Systems, Innoviz Technologies, Velodyne, Continental and LeddarTech.
Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Innoviz Technologies launched first high definition solid-state LiDAR in 2017. In the same year, Continental AG introduced high resolution 3D flash LiDAR for automobiles.
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objective of the Study
- To analyze and forecast the global automotive LiDAR market size.
- To classify and forecast the global automotive LiDAR market based on vehicle type, application and regional distribution.
- To identify drivers and challenges for the global automotive LiDAR market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global automotive LiDAR market.
- To conduct the pricing analysis for the global automotive LiDAR market.
- To identify and analyze the profile of leading players operating in the global automotive LiDAR market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors Influencing Purchase Decision
4.2. Brand Satisfaction Level
4.3. Challenges/Issues Faced Post Purchase
5. Global Automotive LiDAR Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle and Heavy Commercial Vehicle)
5.2.2. By Application (Adaptive Cruise Control, Automatic Emergency Braking and Others)
5.2.3. By Company
5.2.4. By Region
5.3. Market Attractiveness Index
6. North America Automotive LiDAR Market Outlook
7. Europe Automotive LiDAR Market Outlook
8. Asia-Pacific Automotive LiDAR Market Outlook
9. Middle East & Africa Automotive LiDAR Market Outlook
10. Market Dynamics
11. Market Trends & Developments
12. Competitive Landscape
12.2. Quanergy System Inc.
12.3. Leddartech Inc.
12.4. Continental AG
12.5. Innoviz Technologies Ltd.
12.6. Luminar Technologies Inc.
12.8. Valeo S.A.
13. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/p0w4ga