Automotive LiDAR Market value: USD 510 million in 2023, Featuring Growing Trends and Opportunities by 2030

MarkNtel Advisors – Leading Market Research Company found Global Automotive LiDAR Market is expected to reach 18.5% CAGR Growth By 2030.

This report provides a comprehensive analysis of the Global Automotive LiDAR Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.

Comprehensive Analysis of the Automotive LiDAR Market

Base Year: 2023

Forecast Years: 2024-2030

Historical Years: 2019-2022

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Scope of the Automotive LiDAR Market Report:

The Global Automotive LiDAR Market size was valued at around USD 510 million in 2023 & is estimated to grow at a CAGR of around 18.5% during the forecast period, 2024-30.  The primary growth for the market is due to the increasing adoption and evolution of autonomous vehicles. Usually, companies use various sensors and radars to get the spatial representation of the surrounding environment of the automobile. But with the technological advancement in LiDAR technology which is capable of generating a high-quality mapping of the environment has greatly improved the reliability and safety of autonomous and semi-autonomous vehicles.

Which prominent factor is expected to drive the Automotive LiDAR Market during 2024-30?

Increasing Adoption of Autonomous Vehicles – The growth in the Global Automotive LiDAR Market is primarily driven by the increasing adoption of autonomous vehicles and the technological advancement involved in improving their reliability. The automobile companies generally used other technologies such as cameras, radars, ultrasonic, and sensors to achieve the L1 and L2 autonomy of the automobile and even L3. But while using these works fine till L2 autonomy goes further will need much sophistication in the system of autonomous vehicles as these technologies struggle to detect the exact location, shape, and size of the objects in the surroundings. This shortcoming leads to automobiles having difficulty differentiating various objects from pedestrians, to animals to other vehicles present in the surroundings especially if they are slightly away from the vicinity of the automobile.  The usage of LiDAR solves such shortcomings improving the reliability of the autonomous automobile.

LiDAR can create a high-definition mapping of the surrounding environment of the autonomous automobile which greatly surpasses the similar capabilities of the other such technologies. Additionally, LiDAR can work optimally in low light conditions and is capable enough to detect and differentiate objects up to 400 meters. This is filling the gaps previously left in autonomous vehicles and greatly boosts their reliability to operate optimally. As the technology evolves further along with the implementation of regulations to improve road safety and prevent road accidents, the development of such scenarios will fuel the growth and drive the Automotive LiDAR Market Value in the coming years.

What are the different Segment Available in the Automotive LiDAR Market?

By Technology

• Mechanical
• Solid-state

By Application

• Autonomous
• Semi-Autonomous

By Range

• Short & Mid-Range (Up to 200 meters)
• Long Range (Above 201 meters)

By Image Processing

• 2-D
• 3-D
• 4-D

By Location

• Bumper and Grill
• Headlight and Taillight
• Roof and Upper Pillar
• Others (Windscreen, Rear View Mirrors, etc.)

By Vehicle Type

• Passenger Vehicles
  • Internal Combustion Engine (ICE) Vehicle
  • Electric Vehicle (EV)
• Commercial Vehicles

By Demand Type

• OEM
• Replacement

By Region

• North America
• South America
• Europe
• Middle East and Africa
• Asia-Pacific.

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Leading Automotive LiDAR companies operating in the Market

• Delphi Automotive, PLC
• Continental AG
• ZF Friedrichshafen AG
• Infineon Technologies AG
• Velodyne LiDAR, Inc.
• Texas Instruments, Inc.
• Leddartech, Inc.
• First Sensor AG
• Quanergy Systems, Inc.
• Innoviz Technologies, Ltd.
• Luminar Technologies
• Ouster, Inc.
• Robert Bosch GmbH
• Valeo
• Benewake (Beijing) Co., Ltd.
• Others.

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