Automotive LiDAR sensors: Key market research findings
- Transition towards level 3 and 4 of vehicle automation drive market growth
- EMEA dominates the market geographically
- Key vendors – Velodyne, Quanergy, LeddarTech, and Continental
Technavio’s market research analysts predict the global automotive LiDAR market to more than $268 million by 2020. The advancement to level 3 and level 4 automated cars is the primary driver for growth in this market. The steps taken towards automated driving and achieving levels 3 and 4 in vehicle automation places LiDAR at a lucrative position among the autonomous driving sensor suites. LiDAR penetration in high-end cars will be witnessed in 2017, and the expected decline in price is likely to attain momentum from the same year, making the penetration of LiDARs in high-end automobiles significant in the next 10 years. The EMEA occupied around 49% of the overall market space during 2015 to dominate the global automotive LiDAR sensors market. The significant scope for the market of luxury passenger cars where LiDAR-based ADAS are offered in the region is responsible for the booming of the market in this region. The presence of prominent vendors such as BMW, Audi, and Mercedes-Benz, among others in the region is likely to boost growth in the automotive LiDAR sensors market in EMEA during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of automotive LiDAR sensors segments based on the application.
“The use of LiDAR beyond automobiles in road asset management is the latest trend in the automotive LiDAR sensors market across the globe. LiDAR sensors find multiple applications in the maintenance of transportation infrastructure. Traffic Speed Road Assessment Condition Survey (TRACS) was introduced in the UK to conduct routine surveys of trunk road pavement surfaces to establish the condition of the network. LiDAR technology has the potential to deliver measurements of objects much further from the survey vehicle than TRACS surveys,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
The autonomous driving segment of the automotive LiDAR sensors market is expected to showcase rapid growth at a CAGR of over 230% during the forecast period. LiDAR, an inherent component in automated vehicles, in the autonomous driving applications segment is driven by the decline in price points. Prominent OEMs and Tier-I players are developing autonomous car technologies that are expected to boost sales of LiDAR sensors in this segment. Furthermore, the transition towards Levels 3, 4, and 5 vehicle automation is expected to reflect positively on the automotive LiDAR sensors market during the forecast period.
The key vendors in the market include Velodyne, Quanergy, LeddarTech, and Continental. The rapid growth in the automotive industry is presenting significant opportunities to the existing market players in the value chain that include OEMs, Tier-I, Tier-II and several new entrants that have emerged as a result of increased penetration of automated driving offerings, ADAS, and connected car technologies. The new driving experiences with semi-autonomous technologies such as ADAS and new mobility experiences with autonomous driving technologies are providing immense growth prospects for the OEMs in this market.
A more detailed analysis is available in the Technavio report, Global Automotive LiDAR Sensors Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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