[150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global automotive LiDAR market size is expected to register revenues worth USD 3.21 billion by the end of 2027, growing at an exceptional CAGR of approximately 28.4% between 2020 and 2027.
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Increasing awareness among vehicle users for safety along with safety norms issued by the global regulatory bodies is a prime factor that drives the automotive LiDAR market. Furthermore, rising adoption of autonomous and electric vehicles projected to mark a stupendous growth in the application of advanced vehicle safety components such as automotive LiDAR.
Growing emphasis from the governments for ADAS incorporated vehicles in the past few years due to safety concern is likely to propel the demand for automotive LiDAR during the forecast period. Automotive LiDAR is proved as the decisive technology for the autonomous vehicles owing to high precision and accurate real-time detection from the lasers emitted from the device.
Automotive LiDAR Market Scope of the Report
|Market Size||USD 3.21 Billion by 2027|
|Growth Rate||CAGR of 28.4% from 2021 to 2027|
|Largest Market||North America|
|Fastest Growing Market||Europe|
|Forecast Period||2021 to 2027|
|Segments Covered||Product, Component, Application, Region Type|
However, high cost of the technology hinders the market growth. Some of the manufacturers are working towards cutting the price of the LiDAR sensor in automotive sector by reducing the laser emitters in the solution, though the automotive LiDAR is quite expensive these days thus facing restriction in frequent adoption from many manufacturers.
Automotive LiDAR Market Report Highlights
- North America dominated the global automotive LiDAR market with significant revenue contribution in 2019. Government regulations along with surge in sales of electric and hybrid vehicles are the key factors that drive the growth of the region. Furthermore, integration of LiDAR solution in collision avoidance and remote sensing applications expected to surge the demand for automotive LiDAR in the region.
- Europe projected to grow at the fastest growth rate during the forecast period. UK and Germany are the major countries integrating IoT and real-time image processing technology to LiDAR solution. However, China, India, and other ASEAN countries seek opportunistic growth for the LiDAR solution in the coming years due to rising trend of green and hybrid vehicles on road.
- By application, Advanced Driver Assistance System (ADAS) emerged as the leading segment capturing more than 70% of the global market revenue. Furthermore, the segment expected to offer attractive growth rate during the forecast period owing to increasing application of ADAS in smart vehicle parking and adaptive cruise control solutions.
The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter.
This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach. This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably.
Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.
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Some of the prominent players in the automotive LiDAR market include:
- Airborne Hydrography AB
- Faro Technologies Inc.
- Aerometric Inc.
- 3D Laser Mapping Inc.
- Mira Solutions Inc.
- Quanergy Systems, Inc.
- Optech Inc. (Teledyne Technologies)
- IBEO automotive systems GmbH
- LeicGeosystems Inc.
Segments Covered in the Report
By Product Type
- GPS/GNSS Receiver
- Inertial Navigation System
- Micro Electro Mechanical System
- Advanced Driver Assistance System (ADAS)
- Adaptive Cruise Control
- Automatic Emergency Braking
- Autonomous Cars
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2019 to 2027. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global automotive LiDAR market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the automotive LiDAR market.
The report includes country-wise and region-wise market size for the period 2019-2027. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2027.
Why should you invest in this report?
If you are aiming to enter the global automotive LiDAR market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for automotive LiDAR are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Table of Contents
Chapter 1. Introduction
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Market Variables and Scope
Chapter 5. Market Dynamics Analysis and Trends
Chapter 6. Competitive Landscape
Chapter 7. Global Automotive LiDAR Market, By Product
Chapter 8. Global Automotive LiDAR Market, By Application
Chapter 9. Global Automotive LiDAR Market, By Components
Chapter 10. Global Automotive LiDAR Market, Regional Estimates and Trend Forecast
Chapter 11. Company Profiles
Chapter 12. Research Methodology
Chapter 13. Appendix
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