NEW
YORK, June 18, 2024 /PRNewswire/ -- The global
automotive lidar sensors market size is estimated to grow by
USD 693.6 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 22.08% during the forecast period. rapid
developments in autonomous vehicle technology is driving
market growth, with a trend towards continuous cost
reduction of lidar sensors However, high cost of
automotive lidar sensors poses a challenge.Key market players
include Benewake Beijing Co. Ltd, Cepton Inc., Continental AG,
DENSO Corp., HELLA GmbH and Co. KGaA, Ibeo Automotive Systems GmbH,
Infineon Technologies AG, Innoviz Technologies Ltd., LeddarTech
Inc., Leishen Intelligent Systems Co. Ltd., Lumibird Canada,
Luminar Technologies Inc., Ouster Inc., Quanergy Systems Inc., TE
Connectivity Ltd., TetraVue Inc., Valeo SA, Velodyne Lidar Inc.,
and ZF Friedrichshafen AG.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (ADAS and
Autonomous vehicle), Technology (Solid-state and Electro
mechanical), and Geography (North America, Europe, APAC, Middle
East and Africa, and South America)
|
Region
Covered
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Key companies
profiled
|
Benewake Beijing Co.
Ltd, Cepton Inc., Continental AG, DENSO Corp., HELLA GmbH and Co.
KGaA, Ibeo Automotive Systems GmbH, Infineon Technologies AG,
Innoviz Technologies Ltd., LeddarTech Inc., Leishen Intelligent
Systems Co. Ltd., Lumibird Canada, Luminar Technologies Inc.,
Ouster Inc., Quanergy Systems Inc., TE Connectivity Ltd., TetraVue
Inc., Valeo SA, Velodyne Lidar Inc., and ZF Friedrichshafen
AG
|
Key Market Trends Fueling Growth
The automotive LiDAR sensor market is experiencing significant
advancements as companies work to reduce costs and increase
production volumes. Historical examples, such as the anti-lock
braking system (ABS), suggest that substantial price declines are
likely. Innovations like single-chip LiDAR sensors and phased array
technology are expected to bring costs down to around USD1,000 by 2022-2024 and USD100 in a decade. Venture capitalists are
showing increased interest in this sector, indicating a steady
price decline and market growth during the forecast
period.
The Autonomous Vehicle Market is experiencing significant
growth, with Lidar sensors playing a crucial role in enabling
self-driving technology. Companies are investing heavily in
developing advanced Lidar sensors to improve vehicle safety and
performance. The market for these sensors is expanding, with new
applications in areas such as traffic management and surveillance.
The use of Lidar technology in the automotive industry is becoming
more common, with many manufacturers integrating it into their
vehicles. The future looks bright for Lidar sensors in the
automotive sector, with continued innovation and advancements
expected. The market for these sensors is expected to grow, driven
by the increasing demand for autonomous vehicles and the need for
improved safety features. The Lidar market is competitive, with
several players vying for market share. Some of the key players
include Objetive Analysis, Luminar Technologies, Velodyne Lidar,
and Aptiv. The market is expected to reach new heights in the
coming years, driven by the increasing adoption of autonomous
vehicles and the need for more advanced safety features.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The automotive LiDAR sensors market faces significant
challenges due to high costs, with Ouster's ES2 sensor initially
priced at USD600 for mass production
in 2024. However, industry experts predict cost reductions due to
mass production. Despite this, current price points, such as
Luminar's deal with Volvo for USD100
sensors in 2022, remain high for widespread industry adoption. OEMs
already contend with substantial cost pressures from regulations,
R&D investments, market competition, and evolving customer
demands. The added expense of LiDAR sensors, essential for advanced
driver assistance systems (ADAS), poses a significant challenge for
market growth.
- The Automotive Lidar Sensors Market faces several challenges.
One key challenge is the high cost of Lidar sensors, making their
adoption less attractive for some automotive manufacturers. Another
challenge is the need for Lidar sensors to operate in various
weather conditions and environments, as they can be affected by
factors such as fog, rain, and bright sunlight. Additionally, the
development of smaller, more cost-effective Lidar sensors that can
be mass-produced is a significant challenge. Furthermore, ensuring
the reliability and accuracy of Lidar sensors in real-world driving
conditions is a major concern. Lastly, integrating Lidar sensors
with other sensor technologies, such as cameras and radar, to
create a comprehensive Advanced Driver Assistance System (ADAS) is
a complex challenge.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This automotive lidar sensors market report extensively covers
market segmentation by
- Application
- 1.1 ADAS
- 1.2 Autonomous vehicle
- Technology
- 2.1 Solid-state
- 2.2 Electro mechanical
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 ADAS- The global automotive market is
experiencing growth due to the adoption of advanced telematics,
particularly ADAS systems. These include features like adaptive
front lights, adaptive cruise control, and collision warning
systems. Although there was a dip in growth rates in 2022, ADAS is
expected to regain ground as a standalone offering, driven by
regulatory support and demand for driver assistance in long drives
and among elderly customers. ADAS penetration is increasing in both
passenger and commercial vehicles, leading to increased demand for
automotive LiDAR sensors.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Automotive LiDAR Sensors market is experiencing significant
growth due to the increasing demand for advanced safety features
and autonomous vehicle technology. Remote sensing techniques,
utilizing LiDAR technology, enable distance estimation and object
detection, ensuring safe navigation for autonomous vehicles.
High-resolution 3D images generated by these sensors provide
detailed maps, enabling accident avoidance and product development
in the eMobility sector. Infineon Technologies AG's AURIXTM
microcontroller family, including the TC4x series, powers these
sensors, enhancing their functionality and reliability. Joint
ventures and technology collaborations are driving innovation in
this field, ensuring continuous advancements in autonomous car
safety and performance.
Market Research Overview
The Automotive Lidar Sensors Market refers to the industry that
produces, supplies, and installs Light Detection and Ranging
sensors for automotive applications. These sensors use laser
technology to measure distances and create a 3D map of the
environment in real-time. They are essential for advanced driver
assistance systems (ADAS) and autonomous vehicles, providing data
for functions such as adaptive cruise control, lane departure
warning, and automatic emergency braking. The market is driven by
the increasing demand for safety and convenience features in
vehicles, as well as the growing trend towards autonomous driving
technology. The market is also influenced by factors such as
regulatory requirements, technological advancements, and cost
trends. The global Automotive Lidar Sensors Market is expected to
grow significantly in the coming years, with key applications in
passenger cars, commercial vehicles, and two-wheelers.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Technology
-
- Solid-state
- Electro Mechanical
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio