Automotive Lidar Sensor Market Size, Share, Growth, And Industry Analysis by Type (Solid State Lidar and Mechanical/Scanning Lidar) by Application (OEM and Research), Regional Insights, and Forecast To 2031

Updated On: 20 November 2023

Automotive Lidar Sensor Market Report Overview

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The global automotive lidar sensor market size was USD 134.3 million in 2022 and is expected to reach USD 1195.31 million in 2031, exhibiting a CAGR of 27.5% during the forecast period. 

LiDAR (light amplification by stimulated emission of radiation) is an active remote sensing method that substitutes optical amplification based on the stimulated emission of electromagnetic radiation for conventional microwaves and radio waves. The incorporation of this technology makes it possible to gather more exact and accurate real-time data. LiDAR technology can operate during the day and at night because it uses laser-based technology. LiDAR is capable of providing precise data that is often centimeter-level accurate.

Satellite, aerial, and ground-based platforms are among the three types of platforms included. LiDAR has a wide range of uses in many different scientific disciplines, such as geology, forestry, cartography, oceanography, and many more. The industry will have a significant boost in the coming year because to growing automation and digitization. The market's leading companies are concentrating on product innovation and product compactness to boost adoption rates. Prices for LiDAR sensors have been declining for the past three years, and this trend is anticipated to increase automotive lidar sensor market size during the projection period. In the industrial sector, there has also been an increase in demand for LiDAR sensors nationwide.

COVID-19 Impact: Manufacturing Facilities Have Shuttered and Supply Lines Have Been Disrupted Because Of The Economic Uncertainties

The global COVID-19 pandemic has been unprecedented and staggering, with the automotive lidar sensor market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

The COVID-19 has had a severe effect on a number of businesses, including the automobile industry, which has caused a sharp decrease in vehicle sales. The automotive lidar sensor market in automobiles has significantly decreased as a result of the widespread usage of LiDAR in the industry. The primary manufacturer and exporter of the raw ingredients needed to make LiDAR is China. However, because China was the epicentre of the coronavirus pandemic, its exports suffered, which decreased the amount of LiDAR produced. Sales of LiDAR are strongly correlated with demand from end-use sectors, namely safety and the automobile sector. However, because of import-export restrictions, blocked borders, and supply chain interruptions brought on by the COVID-1 9 pandemic, the demand for automotive lidar sensor in the automobile sector was significantly impacted. The establishment of new LiDAR projects has been hampered by the global economic slump since the majority of government financing has been directed into the healthcare industry as a result of the COVID-19 virus's fast spread having a significant negative impact on the automotive lidar sensor market growth. 

Latest Trends

"Widespread Demand to Be Fueled by Multiple LiDAR Fitment Across All Automation Levels"

It is anticipated that the use of LiDAR technology will expand widely as different degrees of automation adopt it more and more. Automotive LiDARs are now being tested for automation levels 3, 4, and 5. However, the key competitors in the market are concentrating on the creation of LiDARs for level 2 automated systems, with a predicted decline in the cost of LiDAR systems as a result of the start of mass manufacturing. Manufacturers of level 2 automation LiDAR have a lot of room for expansion. For instance, IBEO anticipates starting the mass manufacturing of level 2 LiDARs in 2017 following the successful testing of LiDARs for level 3 to level 4 automation. As a result, the adoption of automotive LiDARs at various levels of automation in accordance with their capabilities offers several chances for manufacturers to enter the automotive LiDAR market thus boosting the automotive lidar sensor market shares. 

Automotive Lidar Sensor Market Segmentation

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• By type

Depending on automotive lidar sensor given are types: Solid State Lidar and Mechanical/Scanning Lidar. The Solid State Lidar type will capture the maximum market share through 2028.

• By Application

The market is divided in OEM and Research based on application. The global automotive lidar sensor market players in cover segment like OEM will dominate the market share during 2022-2028.

Driving Factors

"Growth in the Lidar Sensor Space is Being Driven by Increasing Smartphone Demand"

Electronic gadgets like mobile phones, tablets, and many others have seen a huge increase in demand over the past 20 years, and it is projected that this development trajectory will continue throughout the assessment period as well. Perhaps integrating LiDAR sensors into smartphones and tablets will be the next cutting-edge development in the electronics industry. Apple, for instance, was the first company to use automotive lidar sensors in tablet computers. LiDAR sensors can function at the level of individual photons of light even at a distance of 5 metres. Utilizing LiDAR technology can improve the precision and intricacy of measurement applications. Future technical advancements in the electronics industry are expected to lead to a greater need for automotive lidar sensor market.

"Automobile Industry Facilitating Growth Opportunities for LiDAR Sensor Manufacturers"

Over the last three decades, the car industry has had remarkable growth, and it is anticipated that this growth trajectory will continue over the review period. Automotive lidar sensor market is projected to be in high demand in the expanding market for autonomous and electric automobiles because to its versatility, reliability, and efficiency. In the future, LiDAR technology is also projected to boost market growth by being integrated with cutting-edge features like 3D mapping and automotive surround sensors. It has also been highlighted that the evolution of advanced driver assistance systems is linked to the development of LiDAR technology in automotive applications. Over the coming ten years, demand for autonomous cars is anticipated to skyrocket, which will in turn fuel demand for automotive lidar sensor market share. Thousands of patents related to LiDAR technology for automotive applications have been published during the previous 40 years, which illustrates the technology's promise in the years to come.

Restraining Factors

"High Costs Constrained the Growth for Lidar Sensor Demand"

Integrating LiDAR technology into automobiles or any other end use is quite expensive. Only tier-1 manufacturers today employ LiDAR technology because of its exorbitant cost. This is still out of reach for tier-2 or small firms due to rising price points. Businesses are always experimenting with different technologies, such as FMCW, OPA, MEMS, and other LiDARs, to fulfil the demands of end-use industries. Businesses are also focusing on developing technologies that can support large volume, low cost manufacturing. It is anticipated that during the course of the anticipated time, manufacturers that will be able to achieve technological uniqueness that permits mass manufacturing of LiDAR at a relatively affordable price would stay in the market and increase their market shares.

Automotive Lidar Sensor Market Regional Insights

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"North America will Dominate the Worldwide Market as a Result of Stimulating the Demand for Electric Vehicles"

North America dominates the market for target light detection and ranging sensors. This sector will hold the most market share in 2020. Increasing public investment on imaging software is the cause of this predominance. Additionally, the local LiDAR sensor market is benefiting from the focus on self-driving cars among manufacturers and integrators of smart sensing technologies like Google Inc., Uber, and Tesla.  Companies like Uber are testing air taxis, which might revolutionise the auto industry and increase demand for aerial LiDAR sensors. Additionally, Dominos is exploring drone and autonomous car pizza delivery in the US. The resulting rise in demand for LiDAR sensors for drones has opened up a number of market opportunities for the country's LiDAR sensor manufacturers.

Asia-Pacific is responsible for more than 11% of the world's demand for and more than 25% of the world's production of LiDAR sensors, which has a substantial influence on the costs of the majority of items supplied globally. The sector is still only slightly consolidated in China because there are many small manufacturers there. Additionally, Asia-Pacific is strengthening its position as the top producer of semiconductor devices and modules worldwide. Small firms in China have an easier time surviving and competing in the market due to the simple availability of raw materials and reduced labour prices. However, rising hostilities between China and other industrialised nations, including the US, would lead to the implementation of more tariffs and fees on merchandise imported from China.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Velodyne (U.S)
• Ibeo (Germany)
• Quanergy Systems (U.S)
• Leddartech (Canada)
• Trilumina (U.S)
• Luminar (U.S)
• Phantom Intelligence (Canada)
• Hesai Tech (China)
• Leishen (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.