Automotive LiDAR Sensor Market: Easier than easy examination, detection and mapping of objects- Industry analysis with forecast

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A light detection and ranging (LiDAR) sensor has made the examination, detection, and mapping of objects easier than conventional methods. The laser light delivers accurate and precise data points in short time. LiDAR sensors are preferred over conventional surveying methods due to their ability to provide extremely accurate data and 3D scanning of images in a shorter time. The enhanced automated processing ability of LiDAR sensors in terms of image resolutions and data processing capabilities over other technologies is a major factor that is presently driving the global automotive LiDAR sensor market.

LiDAR sensors are widely employed to automate driving of vehicles by obstacle detection and avoidance, which enables safe navigation. LiDAR technology occupies a highly prominent position in achieving level 3 and level 4 (semi-autonomous and autonomous) in vehicle automation, as almost all automotive manufacturers are working toward production of automated driving vehicles. Rise in concern for greenhouse gas emission, fuel economy, and stringent emission norms have prompted automotive manufacturers to employ advanced technology in order to overcome these challenges. Automotive LiDAR sensors play a crucial role in meeting the regulation limits, thereby propelling the market.

The global automotive LiDAR sensor market can be segmented based on application, technology, location, vehicle, and region.

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In terms of application, the automotive LiDAR sensor market can be segregated into semi-autonomous vehicle and autonomous vehicle. Strict protocols and policies with respect to vehicle, driving norms, environmental regulations, and rise in consumer orientation toward safe driving are estimated to boost the demand for autonomous vehicles significantly during the forecast period. Based on technology, the automotive LiDAR sensor market can be segmented into solid state and mechanical/scanning. Demand for solid state technology in the global automotive market has been rising significantly. In terms of vehicle, the automotive LiDAR sensor market can be segregated into passenger vehicle, light commercial vehicle, heavy commercial vehicle, and electric vehicle. The electric vehicle segment is projected to expand during the forecast period.

In terms of region, the global automotive LiDAR sensor market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is expected to be the dominant region in the global market. Increase in the adoption rate of advanced driver-assistance systems technologies in the automotive industry is a key driver of the automotive LiDAR sensors market in the region. Furthermore, rise in the number of road fatalities has led to an extensive usage of mid-range LiDAR sensors and short-range LiDAR sensors, which in turn, is projected to boost the automotive LiDAR sensor market in Asia Pacific.

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Key players operating in the global automotive LiDAR sensor market are Delphi Automotive LLP., Continental AG, ZF Friedrichshafen AG, Infineon Technologies AG, Velodyne LiDAR, Inc., Texas Instruments Incorporated, LeddarTech, First Sensor AG, Quanergy Systems, Inc., and Innoviz technologies, Inc.

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