DUBLIN--(BUSINESS WIRE)--Dec 15, 2022--

The “Automotive LiDAR Market by Technology (Solid-state LiDAR, & Mechanical LiDAR), Image Type (2D & 3D), Measurement Process (ToF, FMCW), Location, EV Type, ICE Vehicle Type, Maximum Range, Laser Wavelength, Autonomy and Region - Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

The global automotive LiDAR market is projected to grow from USD 555 million in 2022 to USD 8,611 million by 2030, at a CAGR of 40.9%.

Bumpers & grills segment is expected to be the largest market during the forecast period, by location.

The bumpers & grills segment is expected to have significant growth opportunities during the forecast period. The use of LiDAR sensors in bumpers & grills improves the aesthetics of autonomous vehicles and helps with the proper functioning of LiDAR technology. Most level 4 and level 5 autonomous vehicles will be equipped with LiDAR sensors at bumpers & grills in the coming years. Currently, automotive OEM Audi (Germany) has incorporated a LiDAR sensor at the bumper & grill in its A8 model.

North America is expected to have significant growth during the forecast period.

The North American region is expected to have significant growth during the forecast period. This region is typically dominated by automotive OEMs such as General Motors, and Ford Motor Company, paired with some established Asian as well as European automotive OEMs such as Nissan Corporation (Japan), Toyota Motor Corporation (Japan), BMW Group (Germany), Hyundai/Kia (South Korea), Honda (Japan), and Volkswagen Group (Germany).

In addition, the consistent increase in sales of luxury vehicles is likely to positively impact the demand for self-driving cars in North America. The large customer base and high disposable income levels in the region have fueled the demand for premium passenger cars.

All these parameters are expected to bolster the revenue growth of the North America automotive LiDAR market during the forecast period. The US is projected to be the largest automotive LiDAR market in North America. There is a wide variety of car models equipped with automotive LiDAR sensors available in the country, such as the BMW 7 Series, Mercedes-Benz S-Class, Toyota MIRAI, and Audi A8.

BEV segment is estimated to be the promising segment in the automotive LiDAR market during the forecast period

BEV is expected to be the promising segment by electric vehicle type during the forecast period. According to primary inputs, the penetration of BEVs is anticipated to increase in the coming years due to strict emission norms introduced by governments of various countries and the increased driving range of electric vehicles. Governments of some countries now provide subsidies for environment-friendly cars to encourage the use of BEVs.

The BEV segment is expected to have a noticeable growth rate. Sales of BEV in 2020 were approximately 2 million units, which increased to 4.7 million units in 2021. The BEV sales clearly show that the BEV segment witnessed a growth of approximately 130% in 2021 over 2020. All these factors, are expected to augment revenues for BEV segment of the automotive LiDAR market during the forecast period.

Market Dynamics

Drivers

• Technological Superiority of LiDAR
• Rising Trend of Semi-Autonomous Vehicles
• Increased Demand for Premium Vehicles
• Growing Demand for Safety and Driving Comfort Features
• Increasing Vehicle Safety Regulations and Growing Adoption of Adas

Restraints

• High Cost of LiDAR
• Lack of Required Infrastructure in Emerging Economies
• Consumer Acceptance of Self-Driving Cars
• Availability of Alternatives

Opportunities

• Rising Demand for Electric Vehicles
• Developments in Autonomous Vehicles
• Sensor Fusion Technology for Autonomous Driving Systems

Challenges

• Environmental Constraints
• Technology Integration

Companies Mentioned

• Aeva, Inc.
• Aptiv
• Argo AI, LLC
• Blickfeld GmbH
• Cepton, Inc.
• Continental AG
• Denso Corporation
• Hesai
• Hexagon
• Huawei Technologies Co. Ltd.
• Ibeo Automotive Systems GmbH
• Infineon Technologies AG
• Innoviz Technologies Ltd.
• Innovusion, Inc.
• Livox
• Luminar Technologies, Inc.
• Marelli Corporation
• Ouster, Inc.
• Pioneer Corporation
• Quanergy Systems, Inc.
• Robert Bosch GmbH
• Robosense
• Trimble Inc.
• Valeo
• Velodyne LiDAR, Inc.
• Zf Friedrichshafen AG

For more information about this report visit https://www.researchandmarkets.com/r/oianms

View source version on businesswire.com:https://www.businesswire.com/news/home/20221215005801/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./ CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: OTHER MANUFACTURING MANUFACTURING

SOURCE: Research and Markets

Copyright Business Wire 2022.

PUB: 12/15/2022 11:05 AM/DISC: 12/15/2022 11:05 AM

http://www.businesswire.com/news/home/20221215005801/en