LONDON--(BUSINESS WIRE)--The global automotive LIDAR sensors market is expected to post a CAGR of almost 47% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
Many automobile manufacturers and OEMs are making significant investments to develop technologies for autonomous vehicles. Some automobile manufacturers are already at advanced stages of developing autonomous vehicle technologies. These factors have increased the testing and development of various features in ADAS and telematics and connected vehicle technologies, which is increasing the applications of LIDAR sensors. Such developments in autonomous vehicle technology are expected to fuel the growth of the market during the forecast period.
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As per Technavio, the development of continuous-wave frequency modulation (CWFM) technology-based LIDAR sensors will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Automotive LIDAR Sensors Market: LIDAR sensors based on continuous-wave frequency modulation (CWFM) technology
Market vendors are focusing on the development of next-generation LIDAR sensors with CWFM technologies which help determine both velocity and the distance of the target. Unlike conventional LIDAR sensors, CWFM LIDAR sensors are immune to background light and do not get affected by the presence of other light sources transmitting at the same frequency. Hence, the advent of CWFM technology-based LIDAR sensors is expected to positively impact the growth of the market during the forecast period.
“Continuous cost reduction of LIDAR sensors and use of sensor fusion technology to combine data from vision, RADAR, and LIDAR sensors and create range versatility will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Automotive LIDAR Sensors Market: Segmentation Analysis
This market report segments the global automotive LIDAR sensors market by geography (Americas, APAC, and EMEA) and application (ADAS and autonomous vehicle).
The Americas region led the market in 2017, followed by EMEA and APAC respectively. During the forecast period, the Americas region is expected to maintain its dominance over the market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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