03 August 2020
Visiongain has launched a completely new automotive report Automotive LiDAR Market Report 2020-2030: Forecasts by Technology (Mechanical LiDAR and Solid-State LiDAR), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), Image Type (2D Image LiDAR, 3D Image LiDAR), Application (Robo-taxi, ADAS, Autonomous Vehicle) and Placement (Bumper & Grill, Headlight & Taillight, Roofs and Upper Pillars, and Others). Profiles of Leading LiDAR Companies and Regional and Leading National Market Analysis PLUS COVID-19 Impact Analysis.
Global automotive LiDAR market size was valued at US$ xx million in 2019 and is anticipated to reach US$xx million in 2025 while growing at a CAGR of xx% during the first half of the forecast period i.e. 2020 to 2025. The global market size is further projected to reach US$xx million by 2030 at a CAGR of xx% from 2025 to 2030.
Automotive LiDAR is fitted in isolation, and even where multiple systems are fitted in a vehicle, great care is taken to ensure that these systems are perceived only as assisting the driver rather than taking over his role. As the number and abilities of autonomous systems increases, the situation will move further along a continuum from driver assistance to in effect driver substitution, meaning that the driver would no longer be required to be alert and instead the onus would fall on the vehicle to warn the driver when his/her input was required, bringing the driver back to a state of full alertness. However, there are not so many LiDAR companies that specialize in providing automotive LiDAR at effective costs.
The automotive LiDAR market is in its evolving phase in most of the countries of the regions. The rise in the adoption of advanced driver applications in the automotive sector has boosted the prospects in the automotive LiDAR market. Moreover, increased per capita income and government regulations for safety would largely contribute towards the growth of the market. However, the complexity of the applications and the cost associated with the installation of the application are the key factors expected to hinder the growth of the market.
The mechanical LiDAR system is mounted atop on a self-driving car and is bulky. Solid-state LiDAR systems, designed without motorized mechanical scanning, are gaining momentum amongst automotive vendors and recognized as the best avenue for delivering mass-market automotive LiDAR solutions. Mechanical LiDAR was the largest revenue-generating segment in 2019 and would continue to be the largest revenue-generating segment throughout the forecast period (2020- 2030).
Factors such as continuous connectivity, enhanced driving experience, safety & security features, and multiple connectivity solutions will have a significant impact on the market. The intelligence application system and data analysis service may act as an opportunity for this industry.
“The appetite for Automotive LiDAR will grow over the forecasting period, owing to the increasing sales of autonomous vehicles and robo-taxi, with ADAS applications. The collaboration of OEMs with automotive component suppliers to build innovative efficient automotive LiDAR and maintain smooth communication within the vehicle would be seen during the forecast period to maintain a competitive edge in the market.”
Industry Analyst, Visiongain
The increase of automation in passenger cars and commercial vehicles provides the customers with comfort and safety along with an ideal driving experience and sending them information about vehicle surroundings. Vehicle manufacturing companies are implementing innovative technologies in sensors that add notable benefits and opportunities to the key participants. Advanced safety and security features are no longer limited to premium vehicles. Increased demand in emerging markets worldwide has led to the installation of in-vehicle equipment in entry-level vehicles.
Europe is expected to be the largest market in 2020 and would continue its dominance during the forecast period to reach dominance share in 2030 growing at a significant CAGR of 26.5% from 2020-2030. The automotive industry in Europe continues to be shaped by intensified global competition and long-term strategies, increasing cost, rivalry in the field of innovation, and ADAS vehicle technologies.
Although semiconductor companies and component manufacturers, automotive component suppliers, other players have made important enhancements in recent years, there is much room for improvement. As the pandemic situation has hit the global industry, automotive has no escape. The increasing outbreak situation in both developed and developing economies is likely to slow down the overall market rate to a great extent. With global sales coming down, the inference of disaster recovery applications, collaborative applications is acting as a saviours for the industry. Automotive companies are now managing their sales operations and vendor-customer connects through cloud-based technologies.
The global market has witnessed the shutdown of OEM assembly plants which has reduced the overall automotive production, with thousands of suppliers and sub-suppliers being directly impacted. The global supply chain for the automotive industry would witness an added strain as most of the suppliers and sub-suppliers are planning to re-launch their operations roughly at the same time. With certain relaxations provided by the governments across the globe, the manufacturing is set to re-open on a full scale in Q3 and Q4 of 2020 with limited production facilities.”
Leading companies featured in the report who are developing Automotive LiDAR include Continental AG, Infineon, Valeo, Robert Bosch GmBH, Panasonic Corporation, Aptiv, LeddarTech, AEye, Velodyne, Luminar Technologies, Quanergy, First Sensor, and Texas Instruments.
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