3 Key Insights on Nearly US$1.5 Bn Opportunity in the Global Automotive LiDAR Market - Ken Research


Posted November 7, 2022 by kenresearchpr

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

 
Increasing Awareness of Vehicle Safety Regulations and the Growing presence of ADAS or Advanced Driver Assistance Systems, the Global Automotive LiDAR Market is Forecasted to Reach Nearly US$ 1.5 Bn by 2028, says Ken Research Study.

Advanced Driver Assistance Systems involve a range of solutions aimed at preventing automotive collisions on road and protecting pedestrians, drivers, cyclists, and passengers from road accidents. Automotive LiDAR’s are a part of this set of solutions that help vehicles see and map their surroundings better than what human eyes, cameras, or mirrors can achieve. Automotive LiDAR’s leverage infrared light or lasers to create high-resolution 3D images of a vehicle’s surroundings. These LiDAR’s can prove effective in semi-autonomous and autonomous vehicles and can be installed on a vehicle’s roofs and upper pillars, bumpers and grills, headlights and taillights, and more.

 “Ken Research shares 3 key insights on this high opportunity market from its latest research study”

1. The Capability of Automotive LiDARs to Reduce Road Accidents is helping the Market to Grow at a Double-Digit Rate

A crucial part of the advanced driver assistance system or the ADAS paradigm, automotive LiDAR’s reduce the chances of road accidents and unwarranted vehicle collisions, often resulting in a fatality. It is one of the major beneficial factors why the market for automotive LiDAR’s is expected to grow at a notably high pace. According to data published by the European Automobile Manufacturers’ Association (ACEA), removing the driver from the scene of vehicle mobility reduces the element of human error in driving, responsible for 90% of all accidents. According to the Partners for Automated Vehicle Education, a conglomeration of self-driving technology companies, autonomous vehicles could avoid more than 70% of crashes. Being a vital part of autonomous/semi-autonomous vehicle component set-up, many technology companies are keen to invest in making cutting-edge LIDAR S meant for the future of driving.

The Global Automotive LIDAR Market was valued at ~US$200 million in 2017. The market is estimated to have reached ~US$500 million in 2022 and grow further to a size of ~US$1,500 million by 2028.

2. Significant Drop in Automotive LiDAR Prices is expected to Boost Adoption and Help the Market Grow Significantly

Innovations are happening at a rapid pace in the Automotive LiDAR market. As leading companies continue to invest heavily in improving LiDAR technology, production is becoming increasingly efficient and scalable, resulting in a drop in price. According to Velodyne’s published commitment, the company intends to bring down the average unit price of a LiDAR to US$600 by 2024, from US$17,900 in 2017. Other leading companies are also expected to follow suit, resulting in a healthily increased adoption rate of LiDAR’s in the automotive market.

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3. Automotive LiDAR’s Performance is Affected Severely by Weather Conditions

The result a LiDAR would provide is still limited by the prevailing weather conditions. Although changes in relative humidity do not impact the range of an automotive LIDAR significantly, the maximum range goes notably down when the speed of the rainfall increases. Scientific studies have shown that an increase in rainfall from 2mm/hr to 25mm/hr can reduce the maximum range of a LiDAR from nearly 80 Meters to around 70 Meters. Foggy weather also affects the performance of a LiDAR. For the automotive LiDAR market to grow even more these challenges have to be overcome.

Key Topics Covered in the Report

Snapshot of the Global Automotive LiDAR Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Automotive
Historic Growth of the Overall Global Automotive LiDAR Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Automotive LiDAR Industry
Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
COVID-19 Impact on the Overall Global Automotive LiDAR Market
Future Market Forecast and Growth Rates of the Total Global Automotive LiDAR Market and by Segments
Market Size of Application Segments with Historical CAGR and Future Forecasts
Analysis of the Global Automotive LiDAR Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

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Notable Key Players Mentioned in the Report

Continental AG
ZF Friedrichshafen AG
Infineon Technologies AG
Velodyne LIDAR
LeddarTech
First Sensor AG
Quanergy Systems
Innoviz Technologies
Robert Bosch GMBH
Valeo

Notable Emerging Companies Mentioned in the Report

Luminar Technologies
Aeva
Ouster
Cepton
RoboSense

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

Automotive LiDAR Manufacturers
Component Suppliers for LiDAR
Autonomous Vehicle Manufacturers
Vehicle Manufacturers
Electric Vehicle Manufacturers
Mobility-tech startups
Mobility-Tech/ Travel/ Transport Industry Investors/ VC Funds
Government Transportation Agencies
Vehicle Safety Authorities/ Research Organizations
Automotive Electronics Manufacturers
Semiconductor IP Suppliers
Semiconductor Chip Manufacturers
SoC and Hardware Suppliers
Auto Component Manufacturers
Government & Regulatory Authorities of Automotive Industry
Automotive Research institutes
PCB Designers and Manufacturers
Investors in Automotive Industry
Software Developers & EV Component Manufacturers
Start-ups & Incumbents in Automotive Electronics
Automotive Testing & Inspection Companies
Company Research and Development Institutes
Market Research & Consulting Firms
Banking and Financial Service Providers

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

For more information on the research report, refer to the below link:

Global Automotive LIDAR Market

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Categories Industry , Marketing , Research
Tags global autonomous vehicles market , global automotive lidar market , global automotive lidar industry , global automotive lidar sector , global semiautonomous vehicles market
Last Updated November 7, 2022