The global automotive LiDAR market is expected to reach USD 223.2 million by 2024, according
to a new report by Grand View Research, Inc. The surging acceptance of
automobile safety application arenas and sophisticated technology
incorporations in automobile driving automation are expected to boost the
market growth. The increasing acceptance for semi-autonomous and autonomous
cars in the years to come is further anticipated to bolster the market growth.
The market can be categorized, based on
application types, into Advanced Driver Assistance Systems (ADAS) &
autonomous cars. The ADAS application segment is further segregated into
Automatic Emergency Braking (AEB) and Adaptive Cruise Control (ACC). The ADAS
application segment is expected witness a significant growth, owing to the
surging incorporation of forward-collision avoidance systems.Adaptive cruise
control (ACC) is adiscretionary cruising choice for automobiles that
robotically modifies the vehicle speed to retain a safe distance from vehicles
ahead.The rising adoption of these systems in autonomous and semi-autonomous
cars at various levels of automation is expected to draw huge ventures from the
key participants, thus driving the regional market demand in the years to come.
In October 2016, Infineon Technologies AG
(Germany) acquired Innoluce BV (The Netherlands), a fabless semiconductor
company headquartered in Nijmegen. Infineon says it would develop chip
components for high-performance LiDAR systems by utilizing Innoluce’s patented
technology. This acquisition is expected to establish Infineon’s strong foothold
as one of the automotive safety technologies vendors.
Want to Access Research Report of Automotive
LiDAR Market Click the Link Below
Further key findings from the report suggest:
· The global automotive LiDAR market is
estimated to grow significantly over the forecast period due to the automation
in the car safety technology, leading to reduced human efforts and increased
efficiency
· Extensive R&D by market players,updated
ratings of safety agencies and the increasing awareness, among consumers, have
fueled the market growth assome major automakers have already started to
integrate basic AEB systems as optional and standard options into their
mass-market models
· The markets in the North American region
including the U.S. & Canada and the European regions occupied a marginal
proportion of the market share in 2015 on account of the administrative
regulations mandating the installation of certain automotive safety
technologies in both light weight and heavy weight vehicles in the region
· The key industry participants include
Robert Bosch GmbH, Denso Corporation, Velodyne LiDAR, Inc., Novariant, Inc.,
LeddarTech, Continental AG, and Quanergy Systems, Inc.
Grand View Research has segmented the
global automotive LiDAR market based on application type and regions:
LiDAR Application Type Outlook (Revenue,
USD Million, 2014 - 2024)
·
Advanced Driver Assistance Systems(ADAS)
o
Automatic Emergency Braking (AEB)
o
Adaptive Cruise Control (ACC)
·
Autonomous Cars
LiDAR Regional Outlook (Revenue, USD
Million, 2014 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
The Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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