Automotive LiDAR Market 2023 - By Size, Share Analysis, Growth Trends And Forecasts To 2032
Posted November 1, 2023 by Saitbrc
Global automotive lidar market size is expected at $1.95 Bn by 2027 at a growth rate of 33.7% and share analysis outlook by The Business Research Company.
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Learn More On The Automotive LiDAR Market’s Growth:
https://www.thebusinessresearchcompany.com/report/automotive-lidar-global-market-report
According to The Business Research Company's comprehensive and insightful Automotive LiDAR Global Market Report for the year 2023, the market exhibits robust growth, with an anticipated surge from $0.45 billion in 2022 to an impressive $0.61 billion in 2023. This growth is underpinned by a remarkable Compound Annual Growth Rate (CAGR) of 34.1%, reflecting the enduring significance of LiDAR technology in the automotive sector.
Nevertheless, the global economic landscape remains shrouded by the formidable shadow of the Russia-Ukraine conflict, which has posed a considerable challenge to the ongoing process of worldwide recovery from the enduring impact of the COVID-19 pandemic, particularly in the immediate term. This geopolitical turbulence has triggered an intricate web of consequences, spanning from the imposition of economic sanctions on numerous nations to the abrupt escalation in commodity prices, coupled with disruptions in supply chains. The interconnectedness of these factors has, in turn, ignited inflationary pressures affecting the pricing of goods and services across diverse industries and markets globally.
Yet, despite these multifaceted challenges, the outlook for the global automotive LiDAR market remains resoundingly positive. Projections indicate that by 2027, the market is poised to attain a substantial valuation of approximately $1.95 billion, propelled by a strong CAGR of 33.7%. These projections underscore the pivotal role of LiDAR technology in shaping the future of the automotive industry, a sector of immense interest for both investors and industry enthusiasts, as it continues to evolve in response to complex global dynamics.
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The prevailing trend that has gained prominence in the dynamic landscape of the automotive LiDAR market is undeniably technological advancement. Eminent players within this domain are directing their efforts towards the seamless integration of innovative technologies, with a particular emphasis on the adoption of array transceiver technology. This strategic shift is aimed at not only enhancing the operational efficacy of LiDAR systems but also augmenting the capabilities within the realm of autonomous vehicles.
An exemplary case in point can be observed in the actions of RoboSense, a China-based intelligent LiDAR technology company, which took a significant step forward in November 2022. RoboSense introduced its groundbreaking product, the RS-LiDAR-E1, often referred to as E1. This revolutionary addition to the LiDAR technology landscape is founded upon independently developed chips and an entirely new technological platform.
Central to the innovation embedded in E1 is the utilization of area array transceiver technology, in conjunction with application-specific designed chips, forming the bedrock of this novel product platform. Notably, E1 boasts a streamlined bill of materials, eliminating any reliance on moving components, making it ideally suited for factory installation and mass production.
The strategic vision behind E1 is the closing of the perception gap in the realm of smart driving. By enhancing the perceptual capacities of both automated and autonomous vehicles across diverse scenarios, this pioneering technology heralds a new era in the evolution of autonomous mobility. The incorporation of E1 into the LiDAR landscape serves as a testament to the commitment of industry leaders to push the boundaries of innovation, ultimately transforming the automotive LiDAR market into a robust and adaptive ecosystem. This development is poised to not only meet but exceed the evolving demands of the automotive industry, offering enhanced safety and efficiency in the era of intelligent transportation.
The automotive LiDAR market is segmented:
1) By Product: Aerial, Mobile, Terrestrial/Static, Short-Range
2) By Technology: Solid-State LiDAR, Mechanical/Scanning LiDAR
3) By Vehicle Type: IC Engine Vehicles, Hybrid Electric Vehicles (HEVS), Plug-In Hybrid Electric Vehicles (PHEVS), Battery Electric Vehicles (BEVS)
4) By Components: Laser, GPS/GNSS Receiver, Camera, Inertial Navigation System, Micro Electro Mechanical System
5) By Application: Semi-Autonomous, Autonomous
Top Major Players
Continental AG
Ibeo Automotive Systems GmbH
Innoviz Technologies Ltd
LeddarTech Inc.,
Luminar Technologies Inc.
Asia-Pacific was the largest region in the automotive LiDAR market in 2022.
The table of contents in TBRC’s automotive LiDAR market report includes:
1. Executive Summary
2. Automotive LiDAR Market Characteristics
3. Automotive LiDAR Market Trends And Strategies
4. Automotive LiDAR Market - Macro Economic Scenario
5. Automotive LiDAR Market Size And Growth
......................
26. Africa Automotive LiDAR Market
27. Automotive LiDAR Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive LiDAR Market
29. Automotive LiDAR Market Future Outlook and Potential Analysis
30. Appendix
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| Contact Email | [email protected] |
| Issued By | TBRC |
| Country | United States |
| Categories | Automotive |
| Tags | automotive lidar market , automotive lidar market share , automotive lidar market size , automotive lidar market trends |
| Last Updated | November 1, 2023 |