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Automotive LiDAR Market Report Focus On Landscape | Current And Future Development 2024-2032

The global automotive LiDAR market size was worth around USD 563.12 Million in 2023 and is predicted to grow to around USD 4,123.63 Million by 2032 with a compound annual growth rate (CAGR) of roughly 24.76% between 2024 and 2032.

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The term “Light Detection and Ranging” (LiDAR) market, as it pertains to the automotive industry, encompasses the development, manufacturing, and integration of LiDAR technology intended solely for automobile applications. By means of laser pulses, LiDAR systems possess the capability to ascertain the distances to objects and produce intricate three-dimensional maps of the vehicle’s environs. This capability empowers autonomous vehicles to detect and traverse their immediate environment.

The automotive LiDAR industry is comprised of a wide variety of components. LiDAR sensors, which are frequently affixed to vehicles to provide real-time data on the surrounding area, are one such component. The utilization of these sensors empowers autonomous vehicles to identify and evade road obstructions, pedestrians, and other vehicles, thereby enhancing safety and facilitating the development of more sophisticated driving functionalities.

Furthermore, hardware components for integrating LiDAR systems into vehicles and software algorithms for processing LiDAR data are also included in the market’s LiDAR-related technologies. It is expected that the automotive industry will continue to allocate substantial resources towards the advancement of autonomous driving technology, which will contribute to substantial growth in the automotive LiDAR market in the coming years. The surge in demand for advanced driver assistance systems (ADAS), regulatory initiatives promoting vehicle safety, and the emergence of new entrants in the automotive and technology sectors are all contributing factors to this upward trend.

There are a number of significant factors that are propelling the growth of the automotive LiDAR sector. To commence, the increasing market demand for autonomous vehicles and advanced driver assistance systems (ADAS) stands as a paramount catalyst. LiDAR technology contributes significantly to the advancement of these systems through the provision of precise and current data regarding the surroundings of the vehicle. This phenomenon enhances both the safety and efficiency of transportation. Additional factors driving the adoption of LiDAR technology include regulatory mandates and standards that require automobiles to incorporate safety measures.

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The Global Automotive LiDAR Market is segmented based on product, application and region

Global Automotive LiDAR Market: Product Segment Analysis

● Roof
● Headlights and Taillights
● Bumper and Grill
● Others

Global Automotive LiDAR Market: Application Segment Analysis

● Automatic Emergency Braking (AEB)
● Adaptive Cruise Control (ACC)
● Autonomous Cars
● Semi-Autonomous Cars
● Others

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The global Automotive LiDAR market profiles key players such as:

● Denso Corporation
● Continental
● Luminar Technologies
● Innoviz Technologies
● Panasonic Corporation
● Omron Corporation
● Valeo
● Trilumina Corporation
● Xenomatix
● Velodyne LiDAR

Market for Automotive LiDAR: Regional Perspectives

Regarding the automotive LiDAR market, North America seems to be the prevailing geographical area. This is primarily attributable to the region’s concentration of prominent automotive manufacturers, technology firms, and research institutions. An environment conducive to the implementation of LiDAR is produced by the region’s technological infrastructure and a legislative framework that is receptive to the advancement of autonomous vehicles. Furthermore, substantial investments are being made in research and development initiatives in North America with the aim of advancing LiDAR technology and integrating it into automobiles.

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