Due to rapid technological advancements, the implementation of strict safety regulations and policies regarding vehicles by the governments of several countries, and the superior detection ability of LiDAR (light detection and ranging), the global automotive LiDAR market is predicted to register huge growth in the coming years. Many public and private organizations are making huge investments in the development of LiDAR sensors, on account of excellent performance of these sensors in various automotive applications.
Due to the growing prevalence of road accidents, the governments of many countries are implementing strict regulations that mandate the adoption of safety systems and features in automobiles. For example, the EU (European Union) has recently enacted a regulation that mandate the incorporation of various driver assistance features such as emergency stop signal, intelligent speed assistance, and advanced emergency braking in automobiles running on the roads of the member nations.
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Hence, it can be said with complete surety that the market will surge sharply throughout the world in the years to come, primarily because of the rising adoption of ADAS and other safety systems in vehicles and the growing usage of connected cars and autonomous vehicles across the world.
Market Segmentation by Vehicle Autonomy
Market Segmentation by Vehicle Type
Conventional Fuel Car
Alternative Fuel Car
Light Commercial Vehicle (LCV)
Medium and Heavy Commercial Vehicle (M&HCV)
Market Segmentation by Range
Short and Medium-Range
Market Segmentation by Application
Adaptive Cruise Control (ACC) System
Automatic Emergency Braking (AEB) System
Blind Spot Detection (BSD) System
Lane Keeping Assistance System (LKAS)