Automotive LiDAR Market Analysis, Trends, Growth & Forecast, 2018 – 2024

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GMI Forecast Automotive LiDAR Market to grow at
over 40 CAGR To 2024
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Key Insights from Automotive LiDAR Market

• The automotive LiDAR market is propelled by
  increasing investments in the development of the
  autonomous vehicles. The automakers are
  concentrating on RD activities for the
  development of the self-driving technology. BMW
  has recently announced its plans to invest USD
  8.6 billion in 2018 to intensify the RD efforts
  for the self-driving technology.
• Growing concerns toward safety among regulatory
  bodies and customers to safeguard vehicles and
  passengers also promote the automotive LiDAR
  market. The government across the countries are
  constantly working on enhancing the safety of the
  vehicles by mandating the use of advanced driving
  assistance systems in the vehicles and modifying
  the vehicle safety systems.
• The autonomous vehicle market is anticipated to
  grow at a CAGR of more than 65 over the forecast
  timespan. The growing demand for the LiDAR
  sensors among the automotive manufacturers for
  self-driving cars is the primary factor driving
  the market. The LiDAR sensors are being widely
  used in autonomous vehicles to create a 3D model
  of its surrounding environment using light
  pulses.

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Continued
The solid-state LiDAR market is projected to grow
significantly over the projected time period.
This technology is in the development phase and
is expected to be commercialized by 2020.
However, the technology is gaining a lot of
traction from the automakers due to its
cost-effective nature and compact size. Its
entire assembly is built on a silicon chip.
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U.S. Automotive LiDAR Market Share, By Vehicle,
2017

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Major Companies in Automotive LiDAR Market

• Leddertech
• Quanergy
• Continental
• Velodyne
• Luminar Technologies
• Innoviz Technologies
• Aptiv
• Magna
• Audi, BMW, Nissan, Mercedes-Benz

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Industry Coverage

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Regional Insights in Automotive LiDAR Market

• The North America is dominating the automotive
  LiDAR market with a market share of over 70 in
  2017. This growth can be attributed to favorable
  government policies. For instance, in 2016, the
  Canadian government introduced Ontario Regulation
  306/15 that permitted the testing of self-driving
  vehicles. In addition, the automotive companies
  in the region have invested heavily in the
  development of the automotive LiDAR technology.
• The Asia Pacific automotive LiDAR market is
  anticipated to grow at a CAGR of over 60 during
  the projected timeline. The presence of the major
  automotive LiDAR technology providers such as
  Robosense and Benewake in the region has fostered
  the growth of the market. These companies are
  investing heavily in the RD activities to
  accelerate innovations in the automotive LiDAR
  technology. For instance, in 2018, RoboSense has
  partnered with Alibaba to develop solid-state
  LiDAR technology for autonomous vehicles.

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