There has been a growing number of vehicle-related on-road fatalities because of the increasing number of vehicles on the road. Perceiving the lack of safety in vehicles and driving process, there is a massive demand for ADAS features and functionalities in a vehicle in the current automotive market. Automated vehicles have several advanced features such as adaptive cruise control, parking assistance, lane departure warning, automated emergency braking, and blindspot detection among others, which can be integrated into an automobile in order to provide a better and safer driving experience. Fueled by a stringent regulatory environment and increasing consumer interest, the number is expected to grow further and reach around 10 million units on-road by the year 2028. The below figure illustrates the different sensors which are equipped on an ADAS vehicle, to allow it to gather data in real-time and drive the vehicle without any human interference.
These systems are intended to assist the driver in the driving process and make it easier for the driver to travel without worrying about the safety and control issues while driving. ADAS is expected to pave its way through semi-autonomous vehicles and ultimately, towards fully-automated vehicles.
Supremacy of LiDAR Technology:
LiDAR devices use pulsed laser beam in order to calculate the distance of obstacles from any vehicles by emitting laser beams. The distance is measured by analyzing the time taken by the laser pulse to reflect and receive the sensors at receiving end. LiDAR sensors are used to scan the environment with a non-visible and non-harmful laser beam, which is used to visualize objects and measure ranges and create a 3D image of the vehicle’s environment. The LiDAR system requires a laser transmitter and a receiver. Using LiDARs for automotive application not only enables the vehicle to sense the surroundings at a greater range but also allows for highly accurate data when compared to other object sensing components such as camera, RADARs, ultrasonic sensors, and infrared sensors, among others. Furthermore, integration of LiDARs permits the vehicle to map an automobile’s surrounding even in low light conditions as LiDARs typically function well under all weather conditions. However, LiDARs face operational limitations while detecting road signs, and while differentiating between obstacles. Owing to this fact, LiDARs are used in sensor fusion based systems, i.e. a combination of LiDARs, cameras and ultrasonic sensors, among others is used for the precise operations of human-independent vehicles. Combining the data of LiDARs and other sensor systems, LiDAR sensors can detect objects in the car’s environment precisely. Furthermore, LiDAR manufacturers are working on the development of LiDARs with higher resolution to improve the performance of the automotive LiDAR based systems.
A LiDAR sensor has various advantages over other sensor systems such as a better range, field-of-view, accuracy, positioning, weather conditioning, and night-time performance among others. A LiDAR vehicle can also be used for various purposes apart from usage in the automotive industry such as for industrial topography, robotics, mining, military, surveying, and agriculture among others.
Automotive LiDAR Market Share:
The global automotive LiDAR market is anticipated to grow at a CAGR of 29.60% during the forecast period 2018-2028. The high growth rate in the volume of LiDARs is predicted due to rising customer demand, extensive usage of LiDARs in high-level automated vehicles, and an anticipated decline in manufacturing prices of LiDARs after the commencement of mass production.
Geographically, U.S. led the global automotive LiDAR market in 2017 in terms of value as the U.S. market had a major share in the global automotive LiDAR market for the year 2017. Factors such as the presence of major LiDAR manufacturers and automakers such as Ford Motors Company, General Motors, Velodyne LiDAR, Inc., and Quanergy Systems, among others, as well as advancements in the number of highly automated vehicles accounts for the high growth rate and major share of the U.S. in the automotive LiDAR market. Also, the growing demand of automotive LiDAR from the U.S. provides immense opportunities to players in the supply chain. For instance, it is expected that LiDAR component suppliers will play a significant role by collaborating with LiDAR manufacturers, in reducing the time required to mass produce LiDAR systems for the automotive market.
The key market players in the global automotive LiDAR market are Continental AG, Ibeo Automotive Systems GmbH, Garmin Ltd, Infineon Technologies, Innoviz Technologies, LeddarTech, Quanergy Systems, Inc., Phantom Intelligence, and Velodyne LiDAR, Inc., among others.
Key Questions Answered in the Report:
• What will be the global automotive LiDAR market value by 2028 along with the estimated CAGR?
• What are the driving factors for the global automotive LiDAR market through 2017 to 2028?
• Which factors are hindering the growth of the global automotive LiDAR market?
• What are the recent trends and developments in the global automotive LiDAR market?
• Which automotive LiDAR type will lead the global automotive LiDAR market by 2028?
• What is the revenue generated by automotive LiDAR across different application verticals during the forecast period (2018-2028)?
• Which application will dominate the global automotive LiDAR market by 2028?
• Which level of autonomous vehicle will dominate the global automotive LiDAR market by 2028?
• Which region will lead the global automotive LiDAR market by 2028?
• What is the patent landscape scenario for automotive LiDAR market?
• What is the direction of pricing of automotive LiDARs by 2028?
• What is the regulation landscape for autonomous vehicles and LiDAR systems?
• Who are the regulating bodies in charge of regulations related to autonomous and self-driving vehicles by 2028?
• What is the supply chain scenario for the automotive LiDAR market?
• What is the technology trend and roadmap related to autonomous vehicles and automotive LiDARs by 2028?
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