Automotive LiDAR Market Size, Share, and COVID-19 Impact Analysis, By Type (Mechanical and Solid-state), By Location (Roof & Upper Pillars, Headlight & Taillights, Bumper & Grill, and Others), By Image Projection (2D, and 3D), By Range Type (Short & Mid-range, and Long Range), By Vehicle Type (IC Engine Vehicle, Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV)), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
The Global Automotive LiDAR Market is projected to grow from USD 513.3 million in 2021 to USD 1415.1 million by 2030 at a CAGR of 19.5% during the forecast period. LiDAR (light detection and ranging) is a sophisticated remote sensing system that detects, identifies, and creates a precise 3-D virtual representation of an item. A high-intensity laser tool, a micro electro mechanical system (MEMS) scanner, and a GPS trans-receiver are utilized in LiDAR to create 3D and 2D images. Seismology, geomatics, atmospheric physics, aerial laser swath mapping, archaeology, and geomorphology are just a few of the applications for LiDAR. LiDAR systems are also used in a variety of industries, including automotive, healthcare, defense, and others. LiDAR technology is utilized in the automobile industry to navigate and control autonomous vehicles.
Increased demand for automotive electronics is expected to enhance the worldwide automotive LiDAR market. End users are progressively adopting automotive electronics such as thin-film transistors, clusters, lane departure warning cameras, reverse parking cameras, and front cameras. For companies in the automotive LiDAR market, this element is projected to generate new growth prospects. Other uses for LiDAR technology include robo-taxis for ride-sharing services, shuttle services, on-demand vehicle services, and MOD fleets, and others. Furthermore, the global automotive LiDAR market is predicted to be driven by the rise in popularity of automotive electronics as a result of the advent of new technologies in the coming years. Electronic components such as tire pressure monitoring systems (TPMS), power steering, heat control infotainment, and anti-lock brake systems all benefit from LiDAR technology. LiDAR is used in sensors, actuators, and microcontrollers, which drives the automotive LiDAR market.
During 2020-21, COVID-19 had a significant impact on semiconductor production in Taiwan, China, and other East Asian countries. Automobile manufacturers eventually faced significant issues in securing adequate supplies of semiconductor chips for integration into their vehicles. As a result, the market witnessed a dip in 2020, followed by a significant comeback in 2021 as the semiconductor industry's output increased. In contrast to 2021 and 2020, the supply of semiconductor chips dramatically increased in 2022. The disruption created by COVID-19 in the semiconductor fabrication and vehicle industries would be mitigated by the shrinking gap between demand and supply of semiconductor chips.
Technological Advancements in Automotive LiDAR
The increasing emergence of technologies utilized in automobiles is driving the worldwide automotive LiDAR market. LiDAR technology is being more widely used in car electronics components. Improvements in performance, durability, and range of LiDAR are being prioritized by key market players in the automotive LiDAR market. In order to determine the velocity and distance of the target, vendors are developing next-generation LiDAR sensors incorporating continuous wave frequency modulation (CWFM) technologies. In addition, the existence of other light sources transmitting at the same frequency in the background has no effect on CWFM LiDAR sensors. Manufacturers are employing cutting-edge technologies to lower the cost of LiDAR sensors.
Rising adoption of LiDAR systems in UAVs
LiDAR maps the earth's surface using rapid laser pulses. The growing use of LiDAR-based Unmanned Aerial Vehicles (UAVs) opens up a opportunity of surveying applications that can be completed at a lower cost than manual surveying methods. Airborne LiDAR-based surveying and mapping applications have benefited from the increased use of UAVs. Unmanned vehicles with LiDAR systems provide not just portability and versatility, but also the capacity to reach terrains and circumstances where humans cannot. Professionals are increasingly using unmanned aerial vehicles (UAVs) for low-altitude photography, landscape mapping, and surveying. LiDAR has become one of the most essential methods utilized in the commercial drone industry to acquire high-quality images in recent years.
Cost of Automotive LiDAR System Is High
A LiDAR system's total cost, which includes sensors, high-end technology, and scanners, is costly. Furthermore, post-processing software, such as point-cloud categorization, may necessitate third-party software, which might be expensive for a single license. As a result, exorbitant costs are limiting the adoption of automotive LiDAR in nations other than developed ones like China and the United States. With a large number of competitors entering the market, the price of LiDAR systems is expected to drop in the coming years; nevertheless, the current cost of an automotive LiDAR system is expensive, which is expected to impede the global automotive LiDAR market.
The Global Automotive LiDAR Market is segmented by Type, Location, Image Projection, Range Type, Vehicle Type, and Region. Based on the Type, the market is categorized into Mechanical and Solid-state. Based on Location, the market is categorized into Roof & Upper Pillars, Headlight & Taillights, Bumper & Grill, and Others. Based on Image Projection, the market is categorized into 2D, and 3D. Based on the Range Type, the market is categorized into Short & Mid-range, and Long Range. Based on the Vehicle Type, the market is categorized into IC Engine Vehicle, Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV). Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
The Global Automotive LiDAR Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
North America is anticipated to hold largest market share. North America, led by the US and Canada, is the world's most technologically advanced market. The rising use of LiDAR in applications such as environment, meteorology, corridor mapping, and urban planning is credited to the market's rise in the region. The growing use of LiDAR in autonomous automobiles and ADAS, which is predicted to rise dramatically during the forecast period, is also boosting the market. Furthermore, major market players like as Faro Technologies and Velodyne Lidar Inc. are located in the North America. Velodyne Lidar Inc. announced its membership in the Intelligent Transportation Society of America (ITS America) in August 2020, with the goal of promoting the benefits of autonomous vehicles (AVs) and intelligent transportation infrastructure.
Europe is projected to second largest market of automotive LiDAR due to the increased expansion commitments by large corporations in emerging countries such as the United Kingdom, France, Germany, and others. The increased need for mechanical LiDAR in industries like as manufacturing, automotive, and industrial purposes is driving market expansion in this region. Furthermore, the presence of significant market players such as Hexagon AB, Leosphere, Sick AG, and others contributes to the region's growth. These changing aspects will aid in the market's development, resulting in increased LiDAR market size and growth. Latin America and the Middle East and Africa are expected to increase at a steady CAGR during the forecast period. This continued expansion is due to increased government and private sector initiatives and investments.
APAC is expected to have a high CAGR in the LiDAR market during the projected period. The increasing demand for LiDAR systems in the manufacturing industry is driving growth in this region. To develop and deploy sophisticated LiDAR products, key companies in this region are focusing on acquisitions and cooperation with other players. Market growth in nations like India and china is predicted to be exceptionally high throughout the projection period, owing to increased government and international investor investments.
KEY INDUSTRY PLAYERS
The global automotive LiDAR market is growing through mergers and acquisitions as well as the establishment of new facilities. For instance, Velodyne LiDAR Inc., partnered with Veoneer Inc. on an automotive production contract. Velodyne is planned to deliver core LiDAR technology to Veoneer Inc. as part of this arrangement, allowing Veoneer Inc. to continue developing trusted, innovative solutions for the automotive sector in 2019.
KEY INDUSTRY DEVELOPMENTS:
September 2017, leading firms such as Delphi, Osram, Integrated Device Technology, and Magneti Marelli invested around USD 130 million in LedderTech. This cash was used to enhance the company's LiDAR development programmes and speed up its ASIC development
In March 2020, Velodyne Lidar Inc announced a multi-year sales agreement with NAVYA, a pioneer in autonomous driving technologies. NAVYA intends to use Velodyne's cutting-edge sensors for precise real-time localization and object detection to expand the shuttle's global reach.
LIST OF KEY COMPANIES PROFILED:
Key Players Operating In the Global Automotive LiDAR Market Include
- NXP Semiconductors
- First Sensor AG
- Ibeo Automotive Systems GmbH
- Luminar Technologies Inc.
- LeddarTech Inc.
- Continental AG
- DENSO CORPORATION.
- Robert Bosch GmbH
- Quanergy Systems, Inc.
- Velodyne LiDAR Inc.
- TETRAVUE, INC.
- XenomatiX - TRUE SOLID STATE LIDAR
- Innoviz Technologies Ltd
· Roof & Upper Pillars
· Headlight & Taillights
· Bumper & Grill
By Image Projection
By Range Type
· Short & Mid-range
· Long Range
By Vehicle Type
- IC Engine Vehicle
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy, Spain, Rest of Europe
- Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
- South America- Brazil, Argentina, Colombia, Rest of South America
- The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa