A recent report published by Infinium Global Research on automotive LiDAR market provides in-depth analysis of segments and sub-segments in the global as well as regional automotive LiDAR market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive LiDAR market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive LiDAR market.
LiDAR (Light Detection and Ranging) is essential in the automotive sector, mainly for the advancement and improvement of Advanced Driver Assistance Systems (ADAS) and autonomous vehicles (AVs). Automotive in LiDAR uses laser light pulses to create a 3D point cloud of the vehicle's surroundings, enabling real-time understanding of distance, shape, and velocity of objects, crucial for ADAS and autonomous vehicle decision-making processes. The automotive light detection and ranging (LiDAR) market is propelled by the rising adoption of autonomous and ADAS technologies, more stringent safety regulations, technological progress, and increasing consumer demand for improved driving experiences. The growing adoption of autonomous and semi-autonomous vehicle technologies is a major driver of the automotive LiDAR market. LiDAR sensors are vital for accurately perceiving and mapping a vehicle's environment, which is key for autonomous driving functions. Moreover, a heightened focus on vehicle safety and governmental requirements for advanced driver assistance systems (ADAS) is boosting the demand for automotive LiDAR systems. The automotive industry is increasingly adopting LiDAR technology due to its cost-effectiveness, improved performance, and increased safety features. Solid-state LiDAR solutions are becoming more popular, and the integration of LiDAR with adaptive cruise control and automatic emergency braking systems is crucial for advanced autonomous driving. The major players operating in the automotive LiDAR market include Continental AG, Denso Corporation, Innoviz Technologies, LeddarTech Inc., Luminar Technologies, Inc., Quanergy Solutions, Inc., Aeva Inc., Teledyne Geospatial, Valeo, and Seyond. The market is moderately fragmented, with a mix of established tech giants, automotive suppliers, and innovative startups. However, automotive LiDAR for manufacturing companies is facing certain challenges such as high cost of LiDAR systems, integration complexity, durability and reliability in harsh conditions, and lack of standardization, which can impact the market growth and expansion. These problems can be overcome by implementing significant strategies such as investing in or partnering with companies developing cheaper, more scalable solid-state or MEMS-based LiDAR, standardizing integration via middleware/APIs to simplify sensor fusion (cameras, radar, AI), using weather-resistant housing and protective coatings, and encouraging governments and international bodies to develop regulatory frameworks, etc.
Increasing consumer awareness regarding road safety is fueling the demand for self-driving vehicles that feature cutting-edge LiDAR technology. With rising awareness of road safety concerns, consumers are increasingly looking for cars that come with advanced safety features. As buyers look for safer and more convenient transport alternatives, the incorporation of LiDAR technology into self-driving vehicles grows more attractive. Characteristics like automatic emergency braking, lane-keeping support, and pedestrian recognition are increasingly critical selling features for new cars. The focus on safety and ease of use is driving car manufacturers to prioritize the integration of LiDAR sensors in their self-driving vehicle designs. This trend indicates a wider change in consumer preferences for cars that provide improved safety features and self-driving capabilities. Moreover, market growth is driven by government support for autonomous vehicles. Government worldwide is actively supporting the development and deployment of autonomous vehicles (AVs) through various initiatives, policies, and regulatory frameworks. Government financing and grants for smart mobility, research and development in autonomous driving, and infrastructure projects (like smart roads) facilitate the wider implementation of LiDAR technology. For instance, the UK government has announced £4.5 billion in investment for British manufacturing to boost economic growth. The funding will be allocated to eight key sectors, including up to £150 million for Connected and Automated Mobility (CAM) to 2030, as part of broader government support for manufacturing growth and investment. However, high prices of Automotive LiDAR are expected to restrain market expansion. The substantial expense of LiDAR systems continues to hinder widespread acceptance in the automotive industry. Although prices have been falling, LiDAR sensors remain significantly more costly than other sensing technologies such as cameras and radar. This cost element is especially difficult for mass-market cars, as the price of each component affects the total vehicle cost. The expensive nature of LiDAR restricts its use to luxury vehicles or advanced autonomous vehicle applications in the short term. Furthermore, the increasing demand for autonomous driving technologies in electric and hybrid vehicles with LiDAR technology is expected to create market growth opportunities. LiDAR's high-precision 3D mapping and real-time obstacle detection are crucial for safe operation. This trend is particularly prominent in premium EV models, leading automakers to invest significantly in integrating LiDAR into their vehicle lineups. The rise in autonomous mobility in passenger cars is driving a surge in the demand for LiDAR technology, which is crucial for advanced driver assistance systems like automatic emergency braking, adaptive cruise control, and emergency lane keeping systems.
The automotive LiDAR market holds the largest share in the North America region. The automotive LiDAR market in North America features considerable investments in self-driving vehicle technology and a robust presence of leading LiDAR manufacturers. There is an increasing emphasis on creating solid-state LiDAR systems and combining LiDAR with different sensing technologies. The area is experiencing greater testing and implementation of self-driving cars, especially in the U.S., which is driving the need for sophisticated LiDAR technologies. Meanwhile, the Asia Pacific region is projected to experience the fastest CAGR in the coming years. The automotive LiDAR market is witnessing swift expansion in the Asia Pacific region, spearheaded by nations such as China, Japan, and South Korea. There's a significant drive for self-driving vehicle technology, especially in China, where governmental backing and financial investments are propelling market growth. The area is witnessing an increase in local LiDAR producers, particularly in China, posing a challenge to established Western companies. The area is also seeing heightened cooperation between car manufacturers and technology firms, promoting advancements in fields like self-driving vehicles and AI-driven user interfaces. Moreover, the varying market situations throughout the region are propelling the creation of adaptable solutions that can serve both high-end and economical vehicle categories.
| Report Coverage | Details |
|---|---|
| Market Size in 2023 | USD 809.34 Million |
| Market Size by 2032 | USD 12550.26 Million |
| Growth Rate from 2024 to 2032 | CAGR of 39.77% |
| Largest Market | North America |
| No. of Pages | 300 |
| Market Drivers |
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| Market Segmentation | By Technology, By Application, By Propulsion Type, and By Vehicle Type |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global automotive LiDAR market provides a detailed analysis of segments in the market based on Technology, Application, Propulsion Type, and Vehicle Type.
· Mechanical LiDAR
· Solid-state LiDAR
· ADAS
o Automatic Emergency Braking (AEB)
o Adaptive Cruise Control (ACC)
· Autonomous Cars
· Internal Combustion Engine (ICE) Vehicle
· Electric & Hybrid Vehicles
· Passenger Cars
· Commercial Vehicles
· Continental AG
· Denso Corporation
· Innoviz Technologies
· LeddarTech Inc.
· Luminar Technologies, Inc.
· Quanergy Solutions, Inc.
· Aeva Inc.
· Teledyne Geospatial
· Valeo
· Seyond
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the automotive LiDAR market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.