Automotive Lidar Sensors Market Size to grow by USD 693.6 million between 2024-2028
According to a research report “ Automotive Lidar Sensors Market” by Application (ADAS, Autonomous vehicle) Technology (Solid-state, Electro mechanical) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 693.6 million, at a CAGR of 22.08% during the forecast period. Major automotive companies, including Delphi, Continental, Bosch, Daimler, Scania, and Volvo, are spearheading the expansion of autonomous driving technology in both the passenger and commercial vehicle sectors. This advancement has significantly increased market acceptance of semi-autonomous features. By the end of the forecast period, self-driving cars may become a reality, and within the next decade, we can expect a substantial increase in the number of self-driving vehicles on the road. These industry leaders are already at advanced stages of development in this regard. Furthermore, the rapid advancement and testing of a diverse range of features in Advanced Driver-Assistance Systems (ADAS) and telematics/connected vehicle applications and services will continue to fuel growth opportunities for automotive LiDAR sensors.
Browse market data tables, figures, and in-depth TOC on “Automotive Lidar Sensors Market” by Application (ADAS, Autonomous vehicle) Technology (Solid-state, Electro mechanical) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Application, the ADAS segment is projected to dominate the market size in 2024
The solid-state segment holds a significant market share in the technology type segment of the global automotive LiDAR sensors market. This dominance is attributed to the rising adoption of autonomous vehicles and prototypes, as well as the advantages offered by solid-state LiDAR sensors, including cost-effectiveness, superior reliability, and compact size. These sensors are instrumental in various automotive applications, such as tolling, measurement and profiling, real-time communication, traffic monitoring, and control. The burgeoning Internet of Things (IoT) and mobility industry further fuel the growth of the solid-state LiDAR sensors segment, ultimately propelling the expansion of the global automotive LiDAR sensors market throughout the forecast period.
By Technology, Solid-state segment is expected to hold the largest market size for the year 2024
The automotive industry's shift towards advanced driver-assistance systems (ADAS) is driving market growth in automotive lidar sensors. ADAS applications, such as adaptive front lights, adaptive cruise control, and collision warning systems, are gaining traction in the automotive sector due to their safety features and the increasing demand for advanced electronic systems in modern vehicles. However, the growth rate is projected to dip in 2022, coinciding with the predicted transition from standalone ADAS to vehicular autonomy frameworks. This transition may result in a decline in the market share of lidar sensors used exclusively for ADAS applications.
North America is forecasted to hold the largest market size by region in 2024
The Automotive Lidar Sensors Market represents a significant growth opportunity for businesses in the advanced driver-assistance systems (ADAS) and autonomous vehicle sectors. These sensors, which use light detection and ranging technology, enable vehicles to perceive their environment in real time, enhancing safety and enabling automated driving functions. Market expansion is driven by increasing consumer demand for enhanced safety features and regulatory support for autonomous vehicles. Businesses investing in this market can expect robust growth and competitive advantages.
The Automotive Lidar Sensors Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
LiDAR (Light Detection and Ranging) sensors have revolutionized the automotive industry with their advanced technology in eMobility. These sensors use laser light to measure distances and create a high-resolution 3D image of the environment, enabling safe navigation and accident avoidance in autonomous vehicles. Infineon Technologies AG, a leading provider of semiconductor solutions, has introduced the TC4x series LiDAR sensors based on the AURIXTM microcontroller family. This joint venture between Infineon and Ibeo Automotive Systems GmbH is focused on product development using LiDAR technology for autonomous vehicles. LiDAR sensors use remote sensing techniques to detect and estimate distances of objects in real-time, providing detailed map data points for safe navigation. These sensors play a crucial role in object detection and distance estimation, enhancing the safety features of autonomous cars. With the increasing demand for autonomous vehicle sensors, the market for LiDAR sensors is expected to grow significantly in the coming years. Infineon's TC4x series LiDAR sensors are set to lead the way in this emerging market, providing high-performance and reliable solutions for the future of transportation.
Market Research Overview
The Automotive Lidar Sensors Market is experiencing significant growth due to the increasing demand for advanced safety features and autonomous vehicles. Companies like Luminar Technologies Inc. are leading the charge with their innovative LiDAR sensors, which use light detection and ranging technology to create high-resolution 3D images of the environment in real-time. Third-party contractors and sub-contractors play a crucial role in the production of these sensors, with international labor markets providing a diverse pool of talent. Vertical integration is also a trend in the industry, with some companies developing both the LiDAR sensors and the onboard computers, such as Infineon Technologies AG's AURIXTM microcontroller family. LiDAR sensors come in various types, including 3 dimensional solid-state and electro-mechanical, and use different technologies like Frequency-modulated-continuous-wave (FMCW). The vehicle type and image type also vary, with applications ranging from hybrid battery electric vehicles to self-driving cars. Despite their advantages, LiDAR sensors can face challenges in adverse weather conditions like foggy or wet weather, which can affect their performance. To address this, companies are investing in clustering and feature extraction techniques to improve data gathering and object detection in challenging environments. In the eMobility sector, LiDAR technology is being used for accident avoidance, safe navigation, and detailed map creation using data points from LiDAR point clouds. With the increasing focus on autonomous vehicles, the market for automotive LiDAR scanners is expected to grow significantly in the coming years.
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