| Report Code: A02535 | Pages: 276 | Jul 2021 | 12128 Views | ||
| Author(s) : Akshay J, Akshay J , Sonia M | Tables: 145 | Charts: 73 |
| |
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Automotive Lidar Market
Request Now !The global automotive LiDAR market was valued at $221.7 million in 2020, and is projected to reach $1,831.9 million by 2028, registering a CAGR of 30.3%.
Following the directions of the WHO for minimizing the spread of the virus, governments of various countries have set up lockdown and trade restrictions, which has disrupted the exports of automotive parts, especially from China, large scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S. Therefore, the reduced production of automobiles due to the temporary shutdown of manufacturing plants is expected to impact the demand for LiDAR sensors in the automotive sector negatively. However, the pandemic is expected to have an indirect effect on the market. Semi-autonomous and autonomous vehicle industry is expected to revive in the near future. Realizing the benefit of contactless and driverless delivery in a world of physical distancing, many logistics companies, delivery companies, and the food delivery companies starting adoption of autonomous vehicles, in which LiDAR is the integral part.
Automotive LiDAR system uses pulsed laser light to measure the distance between two vehicles by illuminating the desired target and measuring the reflected pulses using a sensor. Automotive system utilizes LIDAR to automatically control vehicle speed and braking systems in response to sudden changes in traffic conditions. Primarily, it is used in semi or fully autonomous vehicles assistance features such as collision warning & avoidance systems, blind-spot monitors, lane-keep assistance, lane-departure warning, and adaptive cruise control. Earlier, sonar & radar systems were used in the automotive industry; however, automotive LiDAR have replaced them in automated systems. This is to accomplish the data requirements, owing to increase in the level of automation in vehicles and benefits such as higher accuracy and capturing of real-time data. LiDAR systems can detect objects at distances ranging from a few meters to more than 1000 m.
Factors such as increase in developments of semi-autonomous & autonomous vehicle, rise in emphasis from the governments for ADAS incorporated vehicles, and surge in investments & funding in LiDAR startups are expected to drive the market growth. However, high cost of LiDAR system and environmental constraints & optical vulnerability pose a challenge for use of LiDAR hinder the market growth.
Furthermore, rapid technological advancement in automotive LiDAR and emergence of 4D LiDAR are expected to offer lucrative opportunities for the automotive LiDAR market growth.
The automotive LiDAR market is segmented into application, technology, range, vehicle type and region. By application, the market is divided into sealed semi-autonomous vehicle, and autonomous vehicles. By technology, it is classified into mechanical LiDAR and solid-state LiDAR. By range, it is bifurcate into short- & mid-range and long-range. By vehicle type it is divided into internal combustion engine (ICE) and electric & hybrid. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Continental AG, First Sensor AG, Ibeo Automotive Systems GmbH, Innoviz Technologies Ltd, LeddarTech, Luminar Technologies, Ouster, Inc., Robert Bosch GmbH, Valeo and Velodyne LiDAR, Inc are some of the leading key players operating in the automotive LiDAR market.
Following the directions of the WHO for minimizing the spread of the virus, governments of various countries have set up lockdown and trade restrictions, which has disrupted the exports of automotive parts, especially from China, large scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S. Therefore, the reduced production of automobiles due to the temporary shutdown of manufacturing plants is expected to impact the demand for LiDAR sensors in the automotive sector negatively. However, the pandemic is expected to have an indirect effect on the automotive LiDAR market.
Semi-autonomous and autonomous vehicle industry is expected to revive in the near future. Realizing the benefit of contactless and driverless delivery in a world of physical distancing, many logistics companies, delivery companies, and the food delivery companies starting adoption of autonomous vehicles, in which LiDAR is the integral part.
With the automotive industry making persistent efforts towards developing semi-autonomous and autonomous vehicle, the LiDAR technology is poised to witness a massive surge in demand over the coming years. The implementation of the LiDAR in self-driving vehicles will allow them to collect information about a vehicle's surroundings to provide enough information for the onboard computer to take over from the driver. At present, level 1, 2 and 3 autonomous vehicles are available in the global automotive market, whereas level 4 and 5 autonomous vehicles are in development & testing phase and are expected to be introduced in upcoming years. Moreover, many the leading market players are making significant efforts to develop technologies for autonomous vehicles. Companies such as Daimler, Scania, and Volvo, Volkswagen, Ford, General Motors, Waymo among others plan to launch semi-autonomous and autonomous vehicle in the coming years. For instance, German carmakers BMW and Mercedes-Benz, as well as China's Xpeng and US-based Lucid Motors are launching vehicles in 2021 and 2022 with lidar as an option. Swedish carmaker Volvo together with Luminar Technologies introduced its LiDAR based flagship XC90 fully-electric SUV to be released in 2022. Also, in March 2018, Nissan announced plans to deploy LiDAR based autonomous drive technology ProPILOT in 20 models by 2022. Such efforts have widened the market acceptance of autonomous features in passenger and commercial vehicles in near future. Furthermore, the rapid development of next-generation self-driving vehicles such as robo-taxies and autonomous shuttles further expected to pose the demand for these autonomous vehicles. These vehicles are heavily depending on LiDAR sensors for their operations. Thus, the developments in semi-autonomous and autonomous vehicle technology are expected to drive the growth of the automotive LiDAR market.
The adoption of LiDAR technology in automobiles has giving rise to many newer applications and areas that would adopt LiDAR technology. Apart from the use in automobiles for ADAS, LiDAR can be used in robo-taxies for ride-sharing services, shuttle services, on-demand car services, and mobility-on-demand (MOD) fleets. Thus, the superior performance of LiDAR sensors has been attracting heavy investments from automotive OEMs across the world, aimed at enabling their development and adoption in next-generation autonomous vehicles. For instance, in July 2019, automotive LiDAR company Luminar Technologies Inc. received an investment of $100 million, led by G2VP LLC, Moore Strategic Ventures LLC, and The Westly Group, bringing its total raised to more than $250 million. With this investment, the company has developed a new LiDAR platform, named Iris, with the intention to generate compact low-cost LiDAR solutions for commercial trucks. Moreover, in January 2020, Hesai Photonics Technology Co. Ltd. received $173 million, as part of its Series C funding round, led by Robert Bosch GmbH, Lightspeed Ventures LLC, ON Semiconductor Corp., Qiming Venture Partners, and DT Capital Partners. Thus, the increasing investments and funding in LiDAR startups fueling the growth of market.
Using LiDAR for automotive applications such as for advance driver assistance system or autonomous vehicles is expensive as compared to the traditional systems such as RADAR and cameras. The overall cost of a LiDAR system, including high-end hardware, sensors and scanners is approximately between $20,000 to $75,000. In addition, the post-processing software, such as point-cloud classification, might require third-party software, which could cost around $20,000 to 30,000 for a single license. Hence, upsurge in adoption of automotive LiDAR in other than developed countries such as China and the U.S., are limited by high costs. Although, the price of LiDAR systems is likely to reduce in the coming years with a significant number of players entering the market. However, the current cost of automotive LiDAR system is high, which in turns, anticipated to hamper the automotive LiDAR market growth.
Leading vendors and startups in automotive LiDAR industry are primarily focusing to enhance durability, performance and range of LiDARs. In addition, market vendors are focusing on the development of next-generation LiDAR sensors with continuous-wave frequency modulation (CWFM) technologies which help determine both velocity and the distance of the target. Unlike conventional LiDAR, CWFM LiDAR sensors are immune to background light and do not get affected by the presence of other light sources transmitting at the same frequency. In addition, the CWFM LiDAR sensor can detect the velocity as well as the distance of the object. For instance, in January 2021, a leading mobility supplier DENSO collaborated with U.S. LiDAR and perception systems company, Aeva, to bring next-generation Frequency Modulated Continuous Wave (FMCW) LiDAR and perception system to market. Moreover, advancement in gallium-based LiDAR, has reduced the cost of sensors in recent years, encouraging more manufacturers to make use of the technology. Furthermore, Quanergy, a Californian start-up developed the world's first optical phased array (OPA) 3D lidar for the automotive industry. Additionally, LeddarTech recently launched the LeddarTM Pixell 3D flash lidar module, which is optimized for proximity detection and blind spot coverage in urban environments. Therefore, such technological advancement in automotive LiDAR is expected to positively impact the growth of the automotive LiDAR market during the forecast period.
Key Benefits For Stakeholders
Key Market Segments
By Application
By Technology
By Range
By Vehicle Type
By Region
Key Players
Loading Table Of Content...
The automotive LiDAR market is expected to witness remarkable growth in the future, owing to increasing developments of semi-autonomous & autonomous vehicle, increasing investments & funding in LiDAR startups, and rapid technological advancement in automotive LiDAR.
For instance, leading SaaS company PitchBook Data, Inc., analyst Asad Hussain said, “LiDAR is one of the main growth areas in terms of venture capital investment flowing into the mobility and transportation industry. There are a multitude of new players and emerging technologies in the space and offering the great opportunities for early investors. He added, smaller companies are entering the market with technologies that are higher performance and could radically reduce the cost of LiDAR in near future.
However, the price has been reduced in the recent years and manufacturers are focusing on cutting down the cost, which in turn, expected to propel the adoption of LiDAR in mid-range vehicle segments. For instance, Mike Feibus, an analyst at Feibustech, said that tech companies are working hard to reduce the cost of LiDAR and also to find ways to reduce the size and appearance of LiDAR sensors. Some LiDARS are large, sitting atop of a car with a tower that rotates rapidly and might be six to 15 inches in height. But some innovators are experimenting with splitting up a LiDAR sensor into smaller pieces.
Factors such as rise in emphasis from the governments for ADAS incorporated vehicles are expected to drive the market growth. However, high cost of LiDAR system and environmental constraints & optical vulnerability pose a challenge for use of LiDAR hinder the market growth. Furthermore, rapid technological advancement in automotive LiDAR and emergence of 4D LiDAR are expected to offer lucrative opportunities for the market growth
Among the analyzed regions, North America is the highest revenue contributor, followed by Europe, Asia-Pacific, and LAMEA. On the basis of forecast analysis, Asia-Pacific is expected to lead the market during the forecast period, owing to the increasing demand for semi-autonomous vehicles and expansion of global market players coupled with the introduction of advanced LiDAR.
A. The global automotive LiDAR market was valued at $221.70 million in 2020, and is projected to reach $1,831.90 million by 2028, registering a CAGR of 30.3% from 2021 to 2028.
A. There are certain upcoming trands in automotive LiDAR such as rapid technological advancement in automotive LiDAR and emergence of 4D LiDAR
A. The sample for global automotive LiDAR market report can be obtained on demand from the AMR website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.
A. LiDAR, also refer as “’light detection and ranging’”, is essentially a sonar that uses pulsed laser waves to map the angle, velocity, and distance to surrounding objects with high precision. It is used by a large number of semi and fully autonomous vehicles to navigate environments in real time. LiDAR can sense lane markings, classify objects, and can be also used to correctly position an autonomous vehicle.
A. In post COVID-19, semi-autonomous and autonomous vehicle industry is expected to revive in the near future. Realizing the benefit of contactless and driverless delivery in a world of physical distancing, many logistics companies, delivery companies, and the food delivery companies starting adoption of autonomous vehicles, in which LiDAR is the integral part. Further, governments are also keen to accelerate autonomous vehicle development, owing to the growing public interest and to spur economic development after COVID-19. Thus, such direct and indirect effect of COVID-19 expected to fuel the demand for automotive LiDAR in near future.
A. The company profiles of the top market players of automotive LiDAR service industry can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the automotive LiDAR market.
A. India, Australia, France and Africa has wirnessed as a key matured markets growing in the global automotive LiDAR market
A. By vehicle type, electric & hybrid segment is expacted to gain traction over the forecast period as well as domainate the market share in the global automotive LiDAR market
A. North America region is leading the market presently in terms of revenue. However, Asia-Pacific region is expected to provide more business opportunities for the key players operating in the global automotive LiDAR market.
A. The key growth strategies adopted by the automotive LiDAR industry players includes business expansion, collaboration, product launch, agreement and partnership. These strategies opted by various industry players is leading to the growth of the automotive LiDAR market as well as the players.
Start reading instantly.
This Report and over 19,267+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Contact Details
Need to talk to an expert? Book your free consultation and let our research experts help you with your needs/problems.
