Automotive LiDAR Market to See Record Break CAGR of 28.4% By 2027

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The Automotive LiDAR Market to see a record break revenue of $ 3.21 billion by 2027, growing with a CAGR of 28.4% during the forecast period 2020 to 2027, according to a 2021 study by Precedence Research, the Canada-based market Insight Company.

The Automotive LiDAR market report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.

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Automotive Light Detection and Ranging (LiDAR) is a surveying system that uses pulsed laser lights for determining the distance between two vehicles. The distance is measured by illuminating the target vehicle or object and measuring the reflected pulse by using a sensor. The LiDAR solution in automobile application helps to control the speed and braking system of the vehicle in response to sudden variations in traffic conditions. Prior to LiDAR, radars and sonar were used for range detection in the advanced vehicles. Benefits offered by LiDAR such as determining real-time data and higher accuracy have propelled its market growth over radars and sonar.

Automotive LiDAR Market Report Highlights

  • North America dominated the global automotive LiDAR market with significant revenue contribution in 2019. Government regulations along with surge in sales of electric and hybrid vehicles are the key factors that drive the growth of the region. Furthermore, integration of LiDAR solution in collision avoidance and remote sensing applications expected to surge the demand for automotive LiDAR in the region.
  • Europe projected to grow at the fastest growth rate during the forecast period. UK and Germany are the major countries integrating IoT and real-time image processing technology to LiDAR solution. However, China, India, and other ASEAN countries seek opportunistic growth for the LiDAR solution in the coming years due to rising trend of green and hybrid vehicles on road.
  • By application, Advanced Driver Assistance System (ADAS) emerged as the leading segment capturing more than 70% of the global market revenue. Furthermore, the segment expected to offer attractive growth rate during the forecast period owing to increasing application of ADAS in smart vehicle parking and adaptive cruise control solutions.

Growth Factors

Increasing awareness among vehicle users for safety along with safety norms issued by the global regulatory bodies is a prime factor that drives the automotive LiDAR market. Furthermore, the rising adoption of autonomous and electric vehicles is projected to mark a stupendous growth in the application of advanced vehicle safety components such as automotive LiDAR. The growing emphasis from the governments for ADAS incorporated vehicles in the past few years due to safety concerns is likely to propel the demand for automotive LiDAR during the forecast period. Automotive LiDAR is proved as the decisive technology for autonomous vehicles owing to high precision and accurate real-time detection from the lasers emitted from the device.

However, the high cost of the technology hinders the market growth. Some of the manufacturers are working towards cutting the price of the LiDAR sensor in the automotive sector by reducing the laser emitters in the solution, though the automotive LiDAR is quite expensive these days thus facing restrictions in frequent adoption from many manufacturers.

Regional Snapshots

North America led the global automotive LiDAR market with magnificent revenue share accounting to more than 50%. The significant growth of the region is attributed to the rising research and development activities for enhancement of autonomous vehicles. The government policies supporting the investment in autonomous vehicles drive the research & development for the same. For instance, in 2018, U.S. government invested US$ Mn for the research in self-driving technology. The research activity would be conducted in government and private agencies working on the enhancement of autonomous driving solutions.

Europe is the most attractive region in the global automotive LiDAR market. The anticipated growth of the region is mainly due to supportive policies of the government such as European New Car Assessment Program and Vehicle and Driver Safety Policy. Under these policies, the government has mandated the implementation of vehicle safety solutions that significantly drives the market for automotive LiDAR in the region. In addition, the autonomous vehicles are prominently dependent on the sensor that has significantly elevated the sensor implementation, thus propels the overall growth of automotive LiDAR solutions.

Market Players

The reports cover key developments in this market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnerships & collaborations. These activities have paved the way for the expansion of the business and the customer base of market players. The market payers from the automotive LiDAR  Market are anticipated to have lucrative growth opportunities in the future with the rising demand in this global market.

The report also includes the profiles of key automotive LiDAR market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information, key development in the past five years.

Major players operating in the market are 

  • LeosphereSaS
  • Airborne Hydrography AB
  • Faro Technologies Inc.
  • Aerometric Inc.
  • 3D Laser Mapping Inc.
  • Mira Solutions Inc.
  • Quanergy Systems, Inc.
  • Optech Inc. (Teledyne Technologies)
  • IBEO automotive systems GmbH
  • Velodyne
  • LeicGeosystems Inc.

Segments Covered in the Report

By Product Type

  • Aerial
  • Mobile
  • Terrestrial/Static
  • Short-range

By Components

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

By Application

  • Advanced Driver Assistance System (ADAS)
    • Adaptive Cruise Control
    • Automatic Emergency Braking
  • Autonomous Cars

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Automotive LiDAR Market, By Product

7.1. Automotive LiDAR Market, by Product Type, 2020-2027
7.1.1. Aerial
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Mobile
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Terrestrial/Static
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Short-range
7.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Automotive LiDAR Market, By Application

8.1. Automotive LiDAR Market, by Application, 2020-2027
8.1.1. Advanced Driver Assistance System (ADAS)
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Autonomous Cars
8.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Automotive LiDAR Market, By Components

9.1. Automotive LiDAR Market, by Components, 2020-2027
9.1.1. Laser
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. GPS/GNSS Receiver
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Camera
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Inertial Navigation System
9.1.4.1. Market Revenue and Forecast (2016-2027)
9.1.5. Micro Electro Mechanical System
9.1.5.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Automotive LiDAR Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.3. Market Revenue and Forecast, by Components (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.4.3. Market Revenue and Forecast, by Components (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.5.3. Market Revenue and Forecast, by Components (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.3. Market Revenue and Forecast, by Components (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.4.3. Market Revenue and Forecast, by Components (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.5.3. Market Revenue and Forecast, by Components (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.6.3. Market Revenue and Forecast, by Components (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.7.3. Market Revenue and Forecast, by Components (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.3. Market Revenue and Forecast, by Components (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.4.3. Market Revenue and Forecast, by Components (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.5.3. Market Revenue and Forecast, by Components (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.6.3. Market Revenue and Forecast, by Components (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.7.3. Market Revenue and Forecast, by Components (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.3. Market Revenue and Forecast, by Components (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.4.3. Market Revenue and Forecast, by Components (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.5.3. Market Revenue and Forecast, by Components (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.6.3. Market Revenue and Forecast, by Components (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.7.3. Market Revenue and Forecast, by Components (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.3. Market Revenue and Forecast, by Components (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.4.3. Market Revenue and Forecast, by Components (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.5.3. Market Revenue and Forecast, by Components (2016-2027)

Chapter 11. Company Profiles

11.1. LeosphereSaS
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Airborne Hydrography AB
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Faro Technologies Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Aerometric Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. 3D Laser Mapping Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Mira Solutions Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Quanergy Systems, Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Optech Inc. (Teledyne Technologies)
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. IBEO automotive systems GmbH
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Velodyne
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
11.11. LeicGeosystems Inc.
11.11.1. Company Overview
11.11.2. Product Offerings
11.11.3. Financial Performance
11.11.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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