LiDAR for Automotive Market by Technology (Mechanical and Solid State), Application (Semi-Autonomous and Autonomous), Location (Bumper and Grill, Headlight and Taillight, and Roof and Upper Pillar), Image Type (2D and 3D), and Vehicle Type - Global Forecast to 2030
Posted January 1,2019 in Cars and Vehicles.
The report "LiDAR for Automotive Market by Technology (Mechanical and Solid State), Application (Semi-Autonomous and Autonomous), Location (Bumper and Grill, Headlight and Taillight, and Roof and Upper Pillar), Image Type (2D and 3D), and Vehicle Type - Global Forecast to 2030", The LiDAR for automotive market is expected to grow from an estimated USD 735.0 Million in 2025 to a projected USD 2,557.3 Million by 2030, at a CAGR of 28.32%, during the forecast period. The LiDAR market for automotive division is expected to register high growth rate due to its technological superiority over other available sensors in the automotive industry, such as RADAR and cameras. Factors such as the rising popularity of autonomous vehicles, government regulations for vehicle safety, and an increase in the adoption of ADAS technology by OEMs are driving the market for LiDAR.
The semi-autonomous vehicle segment is estimated to hold the largest market share of the LiDAR for Automotive Market due to factors such as an increase in the demand for driving safety features, the development of cost effective LiDAR solutions, and increasing government regulations.
The 3D segment market is estimated to be the fastest growing market of the LiDAR for automotive market, by image type due to the technological advantages over 2D LiDAR and an expected increased use of autonomous vehicle technology in the automotive industry. The accuracy and performance of 3D LiDAR in autonomous vehicles are far superior to conventional solutions such as RADAR and camera.
The European market is projected to be the largest market in the LiDAR for automotive market as the testing of autonomous vehicles has begun in several countries in the region, such as Germany, U.K. and France. The investment in research and development in the European automotive industry is the largest worldwide, with about 180 automobile facilities across the region. The European LiDAR for automotive market is led by the market in Germany owing to the increased demand for technologically advanced features in the country.
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