Automotive LiDAR Market

Automotive LiDAR Market Analysis, Trends, Growth
& Forecast, 2018 – 2024: Global Market Insights, Inc.
Global Market Insights added Most up-to-date research on “Automotive LiDAR
Market: Global Industry Share, Trends and Forecast, 2018 – 2024″ to its huge
collection of research reports.
This Research study on the Global Automotive LiDAR Market offers detailed and
insightful information on major regional markets and related sub-markets.
The automotive LiDAR market is propelled by increasing investments in the
development of the autonomous vehicles. The automakers are concentrating on
R&D activities for the development of the self-driving technology. BMW has recently
announced its plans to invest USD 8.6 billion in 2018 to intensify the R&D efforts for
the self-driving technology. Similarly, other automakers such as Ford, General
Motors, Toyota, and Honda have also invested approximately USD 1 million to test
new autonomous vehicles on public streets and freeways. The technology giants
such as Google and Intel are also working for the development of autonomous
solutions.
Growing concerns toward safety among regulatory bodies and customers to
safeguard vehicles and passengers also promote the automotive LiDAR market. The
government across the countries are constantly working on enhancing the safety of
the vehicles by mandating the use of advanced driving assistance systems in the
vehicles and modifying the vehicle safety systems. For instance, the European
government’s New Car Assessment Program (NCAP) is promoting the use of ADAS
systems into the vehicle to ensure safety. Similarly, the U.S. has established the
National Highway Traffic Safety Administration (NHTSA), which has introduced new
guidance systems for the Automated Driving Systems (ADS).
The autonomous vehicle market is anticipated to grow at a CAGR of more than 65%
over the forecast timespan. The growing demand for the LiDAR sensors among the
automotive manufacturers for self-driving cars is the primary factor driving the
market. The LiDAR sensors are being widely used in autonomous vehicles to create
a 3D model of its surrounding environment using light pulses. It assists vehicles in
measuring the accurate distance from any objects within its vicinity. Its superior
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property and high accuracy as compared to other alternative products such as radar,
imaging sensors, and ultrasonic are augmenting its demand.
The solid-state LiDAR market is projected to grow significantly over the projected
time period. This technology is in the development phase and is expected to be
commercialized by 2020. However, the technology is gaining a lot of traction from
the automakers due to its cost-effective nature and compact size. Its entire assembly
is built on a silicon chip. Hence, there are no moving components present, making
the system more resilient to vibrations. This allows the manufacturers to produce
smaller parts at a lower price.
3. Automotive LiDAR Industry Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2016 - 2024
3.3.1. Autonomous vehicles market
3.3.2. Semi autonomous vehicles market
3.4. Industry ecosystem analysis
3.5. Automotive LiDAR market evolution
3.6. Market news
3.7. Technology and innovation landscape
3.7.1. Electro optical
3.7.2. Optical phased array
3.7.3. Liquied crystal
3.7.4. Flash LiDAR
3.8. Regulatory landscape
3.8.1. U.S.
3.8.2. Canada
3.8.3. UK
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3.8.4. Germany
3.8.5. France
3.8.6. The Netherlands
3.8.7. Sweden
3.8.8. China
3.8.9. Japan
3.9. Industry impact forces
3.9.1. Growth drivers
3.9.1.1. Increasiong R&D activities for autonomous vehicles
3.9.1.2. Growing supply demand gap
3.9.1.3. Supportive governemnt initiatives and policies
3.9.1.4. Entry of new players in the LiDAR market
3.9.1.5. Rising investment in AutoTech
3.9.2. Industry pitfalls & challenges
3.9.2.1. High cost of LiDAR
3.9.2.2. Presence of the substitute products
3.10. Growth potential analysis
3.11. Porter’s analysis
3.12. PESTEL analysis
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U.S. Automotive LiDAR Market Share, By Vehicle, 2017
The North America is dominating the automotive LiDAR market with a market share
of over 70% in 2017. This growth can be attributed to favorable government policies.
For instance, in 2016, the Canadian government introduced Ontario Regulation
306/15 that permitted the testing of self-driving vehicles. In addition, the automotive
companies in the region have invested heavily in the development of the automotive
LiDAR technology.
The Asia Pacific automotive LiDAR market is anticipated to grow at a CAGR of over
60% during the projected timeline. The presence of the major automotive LiDAR
technology providers such as Robosense and Benewake in the region has fostered
the growth of the market. These companies are investing heavily in the R&D
activities to accelerate innovations in the automotive LiDAR technology. For
instance, in 2018, RoboSense has partnered with Alibaba to develop solid-state
LiDAR technology for autonomous vehicles.
The prominent players operating in the automotive LiDAR industry are Leddertech,
Continental, Luminar Technologies, Aptiv, Magna, Blackmore Sensors & Analytics,
Oryx Vision, Audi, Mercedes-Benz, Tesla, BMW, Nissan, Trilumia, Uber, ZF, Innoviz
Technologies, Velodyne, Quanergy, and Volvo. The major companies in the
automotive LiDAR market are forming alliances with other expert companies in the
market to develop new product offerings and conduct strategic acquisitions, to gain a
competitive advantage over its competitors. For instance, in 2018, Innoviz
Technologies, an Israeli LiDAR startup partnered with Magna, a Canadian
automotive supplier to provide BMW with solid-state LiDAR components for its selfdriving
vehicles. Similarly, in 2017, General Motors (GM) acquired Strobe, a startup
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specializing in automotive LiDAR technology for autonomous vehicles. This
acquisition was aimed at incorporating Strobe’s LiDAR technology into Cruise
Control, a subsidiary of GM, which develops the self-driving technology
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