Automotive LiDAR Market Size, Share, Analysis, Growth, Forecast, 2032

Automotive LiDAR Industry Prospective:

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 report analyzes the global automotive LiDAR market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the automotive LiDAR industry. 

The report analyzes and forecasts the automotive LiDAR market on a global and regional level. The study offers past data from 2018  to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Million). The assessment of automotive LiDAR market dynamics gives a brief thought about the market drivers and restraints along with their impact on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the automotive LiDAR market on a global level.

The report gives a transparent view of the automotive LiDAR market. We have included a detailed competitive scenario and portfolio of the leading vendors operating in the automotive LiDAR market. To understand the competitive landscape in the automotive LiDAR market, an analysis of Porter’s Five Forces model for the automotive LiDAR market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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Automotive LiDAR Market: Overview

In the context of the automotive industry, the term "Light Detection and Ranging" (LiDAR) market refers to the sector that is concerned with the creation, production, and incorporation of LiDAR technology that is designed exclusively for use in automobiles. Through the utilization of laser pulses, LiDAR systems are able to determine the distances to objects and generate detailed three-dimensional maps of the surroundings of the vehicle. This enables autonomous vehicles to perceive and navigate their surroundings.

There are many different components that make up the Automotive LiDAR market. One of these components is LiDAR sensors, which are often mounted on vehicles in order to offer real-time data on the area around them. As a result of these sensors, autonomous vehicles are able to recognize and avoid obstructions, pedestrians, and other vehicles on the road, which not only improves safety but also enables more advanced capabilities for autonomous driving.

In addition, the market encompasses technologies that are related to LiDAR, such as software algorithms for processing LiDAR data and hardware components for integrating LiDAR systems into vehicles. In the future years, it is anticipated that the market for automotive LiDAR will experience significant growth as a result of the continued investments made by the automotive industry in the development of technology for autonomous driving. This increase is being driven by a number of causes, including the rising demand for advanced driver assistance systems (ADAS), regulatory actions that are encouraging vehicle safety, and the rise of new players in the automotive and technology industries.

Automotive LiDAR Market: Growth Factors

Several important aspects are serving as the driving force behind the expansion of the automotive LiDAR industry. In the first place, one of the most important drivers is the growing demand for driverless vehicles and advanced driver assistance systems (ADAS). The LiDAR technology plays a significant part in the development of these systems by delivering accurate and up-to-date information on the environment surrounding the vehicle. This contributes to an increase in both driving efficiency and safety. A further factor that is boosting the deployment of LiDAR technology is the regulatory initiatives and standards that mandate the incorporation of safety measures in automobiles.

Furthermore, technological breakthroughs, such as the development of solid-state LiDAR and improvements in sensor performance, are making LiDAR systems more affordable and viable for use in automotive applications at the same time. In addition, the increasing investments and partnerships between technology companies, automobile manufacturers, and LiDAR developers are helping to stimulate innovation and accelerate the expansion of the market. All things considered, these elements are the primary drivers behind the evolution of the Automotive LiDAR market, which has excellent prospects for continuing growth in the years to come.

Automotive LiDAR Market: Report Scope

Automotive LiDAR Market:Segmentation

The study provides a crucial view of the automotive LiDAR market by segmenting it based on application, technology, location, image projection, component, and region. All the segments of the automotive LiDAR market have been analyzed based on present and the future trends and the market is estimated from 2024 to 2032. The regional segment comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe.

Automotive LiDAR Market: Regional Insights

In the market for automotive LiDAR, North America appears as the dominant region. This is mostly due to the significant presence of leading automotive manufacturers, technological companies, and research institutions in the region. The combination of the region's technological infrastructure and legislative framework that is favorable to the development of autonomous vehicles creates an atmosphere that is ideal for the adoption of LiDAR. In addition, North America is witnessing significant investments in research and development projects that are for the purpose of developing LiDAR technology and its incorporation into automobiles.

To further fuel market expansion, major automotive centers such as Silicon Valley in California act as hotspots for innovation and collaboration among industry participants. Silicon Valley is located in the state of California. In addition, the region's dominance in automotive LiDAR is a result of strategic alliances between automotive original equipment manufacturers (OEMs), LiDAR suppliers, and significant technology companies. With a healthy ecosystem that is able to support technological breakthroughs and good market conditions, North America continues to be at the forefront of determining the future of autonomous driving through the utilization of LiDAR technology.

Automotive LiDAR Market:Competitive Space

Some noticeable players of the automotive LiDAR market are

• Denso Corporation
• Continental
• Luminar Technologies
• Innoviz Technologies
• Panasonic Corporation
• Omron Corporation
• Valeo
• Trilumina Corporation
• Xenomatix
• Velodyne LiDAR.
• And Others.

This report segments the global automotive LiDAR market into:

Global Automotive LiDAR Market: Application Analysis

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

Global Automotive LiDAR Market: Technology Analysis

• Solid-State LiDAR
• Mechanical/Scanning LiDAR

Global Automotive LiDAR Market: Location Analysis

• Roof
• Headlights and Taillights
• Bumper and Grill
• Others

Global Automotive LiDAR Market: Image Projection Analysis

• 2D
• 3D

Global Automotive LiDAR Market: Component Analysis

• Laser
• Inertial Navigation System
• Camera and GPS/GNSS Receiver
• Micro Electro Mechanical System

Global Automotive LiDAR Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa