Lidar For Automotive Market - Forecast(2023 - 2028)

Lidar For Automotive Market Overview

The Global Lidar for Automotive Market size is forecast to reach $2.1 billion by 2027, growing at a CAGR of 16.3% from 2022 to 2027. LIDAR-based Advanced Driver Assistance Systems help in taking complete control over the vehicle with the features such as pedestrian detection, Lane Keep Assistance (LKA), Automatic Emergency Braking (AEB), Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), thus driving its adoption. Government regulations or mandates aimed at raising vehicle safety standards due to surging roadside fatalities, and increasing demand for autonomous vehicles is also catering its market growth. Moreover, high end performance of lidars, growing investment on increasing electric vehicle adoption, rising demand for solid state lidars and many others will also influence its market growth. Furthermore, technological advancements within automotive industry, as well as growing emphasis on raising vehicle driving connectivity is set to accelerate the market growth in the long run.

Report Coverage

The report: “Lidar For Automotive Market Outlook – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Lidar For Automotive Market industry.

By Image Projection: 2D and 3D
By Technology: Solid-State LiDAR and Mechanical/Scanning LiDAR
By Vehicle Type: ICE (Internal Combustion Engines), Electric Vehicles (HEV (Hybrid electric vehicles, PHEV (Plug-in hybrid electric vehicles, BEV (Battery electric vehicles)).
By Range: Short and Medium-Range, Long-Range
By Mounting Location: Bumper & Grill, Headlight & Taillight, Roof & Upper Pillars, Others
By Channels: 8 Channel, 16 Channel, 32 Channel and 64 Channel
By Application: Semi-autonomous vehicles ( Level 1, Level 2, Level 3) and Fully Autonomous vehicles( Level 4, Level 5)
By Geography: North America (U.S, Canada, Mexico), Europe (U.K, Germany, France, Italy, Spain, Others), APAC (China, Japan India, South Korea, Australia, Others), South America (Brazil, Argentina, Others), RoW (Middle East, Africa)

Key Takeaways

• Solid-State LiDAR segment is analyzed to witness the fastest growth in the global Lidar for Automotive Market during 2022-2027, owing to minimal or absence of moving parts, and affordability.
• Fully Autonomous vehicles application is anticipated to grow with the highest CAGR in the global Lidar for Automotive Market during 2022-2027, owing to growing development of Level 4 and Level 5 autonomous vehicles and significant adoption of fully automated ride hailing services.
• Europe Lidar For Automotive Market held the largest share in 2021, due to increased R&D activities towards Lidar technology as well as mandatory regulations by the government for the installation of advanced vehicle safety technologies.
• Growing demand for autonomous vehicles and electric vehicles along with government regulations or mandates aimed at raising vehicle safety standards are analyzed to significantly drive the market growth of Lidar For Automotive during the forecast period 2022-2027.

Lidar For Automotive Market Value Share, by Region, 2021 (%)

Lidar For Automotive Market Segment Analysis- By Technology

Solid-state Automotive Lidar market is analyzed to witness the fastest growth with a CAGR of 16.8% during the forecast period 2022-2027. In comparison to scanning or mechanical Lidar, these sensors are capable of providing higher resolution, capturing upto 270° horizontal field of view, with minimal or absence of moving parts, thereby gaining them wide popularity across automotive applications. Growing demand for autonomous vehicles, along with increasing R&D activities of solid-state sensors have been attributed to the market growth. Technological advances in the automotive industry, growing demand for optimal navigation control, as well as increased penetration of Lidar in automotive applications is also intended to drive the market forward. In November 2021, Ouster Automotive announced the launch of digital flash (DF) series of solid-state LiDARs, capable of offering uniform 3D imaging, eliminating motion blur, across the entire field of view. Development of these sensors was done to meet auto manufacturer requirements towards ADAS as well as automated driving, enabling seamless integration into vehicle architecture and design. Such factors are set to assist the market demand for solid state Lidars within the automotive industry in the long run.

Lidar For Automotive Market Segment Analysis- By Application

Automotive Lidar for fully autonomous vehicles is analyzed to grow with the highest CAGR of 17.2% during 2022-2027. Rapid rise in road side fatalities due to human negligence, growing emphasis of automotive OEMs towards fully automated driving, along with significant demand of fully driverless ride hailing services including robotaxis across varied countries can help in boosting the market growth. Additionally, stringent government regulations towards improving vehicle safety, growing demand for integration ADAS functionalities in these autonomous vehicles, as well as technological advancements like smartphone connectivity will also help in driving the market growth forward. In January 2022, Zeekr announced its collaboration with Mobileye, for the development of world’s first car with Level 4 self-driving capability meant for retail sale. However, the company had revealed that this development is targeted to be completed by the year 2024. As per the Consumer Electronics Show 2022, General Motors had revealed its plans of selling fully autonomous vehicles for the regular consumers by the middle of the decade. This will aim at development of affordable fully driverless vehicles, to make it a personally owned vehicle for its consumers. Such factors are set to drive the growth of Lidar For the Automotive Market for the fully autonomous vehicle category in the coming time.

Lidar For Automotive Market Segment Analysis- By Geography

Europe held the largest share of around 39% in 2021 in the global Lidar For Automotive Market and is analyzed to have significant growth during the forecast period 2022-2027. Factors including rising production of electric and battery vehicles, increasing consumer shift towards electric vehicles, governmental mandates on ADAS integrated vehicles, as well as growing adoption of autonomous vehicles overtime, and so on have attributed to the market growth. Rising adoption of emergency braking solutions, alongside increasing demand for autonomous, luxury or high-end vehicles have been also driving the market growth forward. In addition, significant initiatives or incentives towards encouraging the adoption and testing of autonomous vehicles as well as higher emphasis on advanced driver assistance systems are further catering to the market growth in the region. Moreover, the rising number of roadside accidents, stringent mandates on the installation of certain safety features, along with high R&D activities over time will also help in driving the growth of Lidar for automotive market. In July 2021, a Germany based automotive giant, Continental had partnered with AEye, in order to integrate long range Lidar technology within its full sensor stack solution for creating first full stack automotive-grade system for Level 2+ upto Level 4 automated and autonomous driving applications. These developments are set to contribute to the growth of automotive lidars within European markets.

Lidar For Automotive Market Drivers

Growing demand towards autonomous vehicles and electric vehicles is positively impacting the market growth of LiDAR for Automotive:

Growing demand for autonomous vehicles and electric vehicles act as a major factor driving the market growth of automotive Lidar industry. Rising demand for low-emission transportation, surging fuel prices alongside government initiatives or mandates towards zero-emission or battery powered automobiles through subsidies and tax exemptions can be considered highly essential in driving the market demands. According to International Energy Agency (IEA), sales of electric two/three-wheelers can reach 50 million in 2030, from 25 million in 2020, contributing to more than half of total sales. In May 2022, Valeo had revealed its plans on the third generation scanning LiDAR, set to make its commercial debut in 2024. This development will aim at improving performance, resolution as well as frame rate, as a part of its move towards supporting driverless vehicles.? These factors will help in propelling the market demand towards automotive lidar in the long run.

Government regulations or mandates aimed at raising vehicle safety standards is driving demand for Lidar For Automotive Market:

Government regulations or mandates aimed at raising vehicle safety standards can also be considered one of the major drivers boosting the growth of automotive lidar industry. Alarming increase in number of deaths caused by traffic accidents have eventually created higher focus of government organisations or authorities towards enhancing vehicle safety standards. According to the National Highway Traffic Safety Administration, traffic fatalities in the United States increased to 42,915 in 2021, following a sharp increase in 2020, thus prompting more calls for faster action on new safety technologies such as vehicle sensors as well as wireless connections to traffic command centers and other vehicles and roadside infrastructure. In June 2021, US regulators had issued an order under which automakers as well as operators of vehicles equipped with advanced driver assistance or automated driving systems have to mandatorily report crashes within one day of learning of the incident. Government mandates aimed at encouraging the use of ADAS system mandatory for cars, while stressing on driver assistance systems, like pedestrian detection, Lane Keep Assistance (LKA), Automatic Emergency Braking (AEB), Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), for providing a safe driving experience is set to assist the market demand further in the coming time.

Lidar For Automotive Market Challenges

Security concerns related to automotive radar sensor is hampering its market growth:

Security concerns related to automotive radar act as a major factor restraining its market growth. With the shift toward vehicle automation, there is a significant rise in the adoption of digital technologies to improve driver assistance functionalities. Malicious use of lidar sensors to control the vehicle, can lead to traffic congestion, and related issues. Due to automotive connectivity and digitalization, accessing location data or personal information of the driver over Bluetooth, USB, or others, can further create potential security concerns. Through dependency on connected technology, there is access to driver’s data, which in turn can impact driver’s safety, create traffic rule violations and many others. These factors have been eventually creating an adverse impact on the adoptability of automotive radars overtime.

Lidar For Automotive Market Landscape

Product launches, acquisitions and R&D activities are key strategies adopted by players in the Lidar For Automotive Market. The Lidar For Automotive Market top 10 companies include:

1. Delphi Automotive PLC
2. Continental AG
3. ZF Friedrichshafen AG
4. Infineon Technologies AG
5. Velodyne LiDAR, Inc.
6. Texas Instruments, Inc.
7. Leddartech, Inc.
8. First Sensor AG
9. Quanergy Systems, Inc.
10. Innoviz Technologies, Ltd.

Recent Developments

• In Jan 2022, Velodyne LiDAR, Inc. announced about its plan on the development of a new generation of LiDAR along with a type 4 type 4 driverless car by 2024. This was meant as a part of enhance company's primary focus towards making autonomous vehicles more precise and affordable.
• In December 2021, Innoviz Technologies Ltd. announced that the first B samples of the automotive-grade InnovizTwo LiDAR sensor had been successfully launched. This next-generation system, will help in delivering an unparalleled combination of range, resolution, as well as field of view, with a 30x performance gain over InnovizOne LiDAR at a 70% cost reduction.
• In September 2020, ZF Friedrichafen AG had announced about the starting off with the production of solid-state LiDAR sensor systems, named ibeoNEXT. Development of these systems includes automotive applications majorly its support for Level 3 automated driving.

Relevant Report Titles:

Automotive Safety Technology Market - Forecast(2022 - 2027)

Report Code: ATR 0040

LiDAR Market - Forecast(2022 - 2027)

Report Code: AIR 0103

LiDAR for Security Market - Forecast(2022 - 2027)

Report Code: AIR 0330

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