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Automotive LIDAR Sensors Market to Witness Huge Growth By , Size, Share, Trends, Business Strategies And Revenue Outlook
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The global automotive LIDAR sensors market is expected to grow at a CAGR of 25% from 2017 to 2023 (forecast period). The research report covers the COVID-19 analysis of the global automotive LIDAR sensors market and offers a detailed and comprehensive summary of market segments, emerging developments, growth projections, and industry challenges to identify investment opportunities.
The LIDAR (Light Detection and Ranging) system is used to determine the time at which the pulse laser reaches a certain distance in a specific medium. In general, the automotive industry uses laser pulses with a length of 3-20 nanoseconds. The LIDAR sensors in the automotive sector are capable of detecting objects within a range of 300 meters.
Market Dynamics
The global automotive market for LIDAR sensors is mainly driven by the strengths of LIDAR sensors, such as high angular resolution and a broad view required for proper mid-range detection. The data scanned by the LIDAR is capable of being captured by software tools that can be used to create a model of surrounding vehicles. The LIDAR sensors also act as a perfect link between close ranges and far range sensor systems.
The market for LIDAR automotive sensors is also primarily driven by its growing use in self-driving cars. LIDAR sensors make it possible to distinguish between a person on a bike and a person walking and at the speed and direction in which they are going. LIDAR is a crucial sensor for self-driving cars with a combination of navigation, predictability, and high-resolution object tracking.
The market is expected to expand in the future, as major players concentrate on both reducing costs and increasing the range and resolution of LIDAR sensors.
Market Segmentation
The global market for automotive LIDAR sensors has been segmented on the basis of application type, image type, placement, and end market.
Based on application type, the global automotive LIDAR sensors market has been segmented into semi-autonomous vehicles and autonomous vehicles.
Based on image type, the global automotive LIDAR sensors market has been segmented into 2d image and 3d image.
Based on placement, the global automotive LIDAR sensors market has been segmented into headlights and taillights, roof, and others.
On the basis of the end market, the global automotive LIDAR sensors market has been segmented as OEM and aftermarket. Amongst them, the OEM segment is anticipated to dominate the global market in terms of market revenue. The growth of OEM has been attributed to factors like advancement in technology and the launch of new advanced LIDAR sensors.
Regional Analysis
Geographically, the global automotive LIDAR sensors market has been segmented into four major regions of North America, Europe, Asia Pacific, and the Rest of the World.
The European region is expected to boost the global market due to the presence of a large number of OEMs and LIDAR manufacturers in the region. Major players in the European market are taking steps to geographically extend their reach by entering into alliances and collaborations with both global and regional players.
Key Players
The industry giants in the automotive LIDAR sensors market include Delphi Automotive (U.K.), First Sensor AG(Germany), Continental AG (Germany), ZF Friedrichshafen (Germany), Velodyne LiDAR (U.S.), Infineon Technologies (Germany), Texas Instruments Incorporated (U.S.), Robert Bosch (Germany), Ibeo Automotive (Germany), Quanergy Systems (U.S.), Valeo S.A. (France), LeddarTech (Canada), Denso (Japan), PulsedLight (U.S.), Teledyne Optech (Canada), Trilumina (U.S.), TetraVue (U.S.), Princeton Lightwave (U.S.), and HELLA GmbH (Germany).
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