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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Vehicle LiDAR Market: Synopsis
Within the automotive sector, the “Light Detection and Ranging” (LiDAR) market is the sector focused on the development, manufacturing, and application of LiDAR technology intended just for use in vehicles. LiDAR systems create thorough three-dimensional maps of the vehicle’s surrounds and find object distances by means of laser pulses. This helps autonomous cars to see and negotiate their surrounds.
The Automotive LiDAR market consists of several components with different purposes. LiDAR sensors are one of these parts; they are usually installed on cars to provide real-time data about the surroundings. These sensors help autonomous cars to identify and avoid obstacles, pedestrians, and other cars on the road, therefore enhancing safety and allowing more sophisticated features for autonomous driving.
Furthermore included in the market are LiDAR-related technologies including hardware components for including LiDAR systems into cars and software algorithms for processing LiDAR data. The ongoing expenditures made by the automotive sector in the advancement of technology for autonomous driving is expected to cause notable increase in the market for automotive LiDAR in the next years. Rising demand for advanced driver assistance systems (ADAS), legislative acts supporting vehicle safety, and the entrance of new businesses in the automotive and technology sectors are among the several factors driving this surge.
Automobile LiDAR Market: Development Prospectives
The growth of the automotive LiDAR sector is driven in many significant ways. First of all, the growing need for driverless cars and advanced driver assistance systems (ADAS) is among the most significant forces. These systems are developed in great part by the LiDAR technology, which provides accurate and current environmental data on the vehicle’s surroundings. This helps driving safety and efficiency to rise as well. The legislative projects and rules requiring the integration of safety precautions in cars are another element driving the LiDAR technology deployment.
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The Global Automotive LiDAR Market is segmented based on product, application and region
Global Automotive LiDAR Market: Product Segment Analysis
● Solid-State LiDAR
● Mechanical/Scanning LiDAR
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
LiDAR Market in Automotive: Regional Analysis
North America seems to be the major area in demand for vehicle LiDAR. This is largely because of the region’s notable concentration of research facilities, technical businesses, and top automakers. The combination of the technological infrastructure of the area and regulatory framework that supports the evolution of autonomous cars generates an environment fit for the acceptance of LiDAR. Furthermore, North America is seeing large expenditures in research and development initiatives meant to produce LiDAR technology and its use into vehicles.
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