Automotive LiDAR Market to Expand at 19.5% CAGR through 2032 as Sales of Autonomous Vehicles Bolster - Seite 2

US$ 430 Mn

Projected Year Value (2031F)

US$ 3 Bn

Global Growth Rate (2021-2031)

CAGR 19.5 %

Key Takeaways:

• Based on technology, the solid-state LiDAR segment will account for 60% of the total market share.
• China is expected to dominate the East Asia automotive LiDAR market over the forecast period.
• The U.S. will account for a lion's share of the North America automotive LiDAR market owing to increasing sales of electric vehicles.

Growth Drivers:

• Increasing sales of autonomous vehicles will spur demand for automotive LiDAR systems.
• Surging adoption of solid-state LiDAR due to their cost-effectiveness will augment the growth in the market.
• The implementation of LiDAR will grow on the back of advancements in scanners, advanced hardware and sensors.

Restraints:

• High costs associated with implementation of automatic LiDAR systems proves to be a deterrent to growth of LiDAR market.

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Competitive Landscape:

The global automotive LiDAR market comprises a blend of local, as well as international companies. Majority of these companies are increasingly focusing on strategic collaborations to expand their presence worldwide.

For instance,

• In March 2020, Velodyne LiDAR, a prominent name in LiDAR technology industry announced a merger with NAVYA, a leading driverless cars system provider.
• In April 2021, two luminaries in LiDAR technology industries, Lingdao Intelligence and Innoviz Technologies inked a deal to launch high-res LiDAR to the Chinese Market
• In Jan 2022, Valeo declared to go forward with a new generation of LiDAR for 2024 launch.

Key Companies Profiled by Fact.MR

• Delphi Automotive PLC
• NXP Semiconductors
• TetraVue
• XenomatiX N.V.
• Luminar Technologies Inc.
• LeddarTech Inc.
• Continental AG
• Robert Bosch GmbH
• Innoviz Technologies Ltd.
• Velodyne LIDAR Inc.

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