Automotive LiDAR Market size worth $ 1659.21 Million, Globally, by 2030 at 29.45% CAGR: Verified Market Research®
Technological advancement in automotive LiDAR technology and the development of 4D LiDAR systems offer good opportunities for growth of the Automotive LiDAR Market.
JERSEY CITY, N.J., June 7, 2022 -- Verified Market Research recently published a report, "Automotive LiDAR Market" By Location (Bumper And Grill, Headlight And Taillight), By Vehicle Type (ICE, Hybrid), By Technology (Solid State, Mechanical/Scanning), and By Geography. According to Verified Market Research, the Automotive LiDAR Market size was valued at USD 210.61 Million in 2021 and is projected to reach USD 1659.21 Million by 2030, growing at a CAGR of 29.45% from 2022 to 2030.
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Browse in-depth TOC on "Automotive LiDAR Market"
202 - Pages
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Global Automotive LiDAR Market Overview
Since the turn of the century, Lidar has been a well-known measurement technique, with established publications and a large bibliography collection. Furthermore, Lidar works on the simple premise of counting the duration between events in magnitudes carried out by light, such as backscattered energy from a pulsed beam. A vehicle's LiDAR sensor sends light pulses, which collide with adjacent objects like automobiles, pedestrians, and trees. After that, the photons bounce back to the sensor. Every photon's roundtrip data is recorded by the LiDAR system, which measures the distance and time to every item in the vehicle's surroundings.
Moreover, LiDAR is being used in a new project called Pre-Scan. Pre-Scan uses technology to scan the road surface hundreds of times per second. This data is then transmitted into the car's onboard computer, which adjusts the individual suspension at each wheel in a fraction of a second which acts as the key growth driver of the Automotive LiDAR Market. Another growing element of the targeted market is that LiDAR technology produces extremely precise and consistent findings.
- In March 2022, Hexagon announced to launch New Advanced Lidar Security Solution for the Multibillion-Dollar Physical Security Market jointly with Ouster. The Ouster x Accur8vision solution is capable of monitoring and protecting a wide variety of environments, including critical infrastructures such as airports, commercial buildings, and residential properties.
- In January 2021, Infineon Technologies AG announced the launch of a new generation of its AURIX™ microcontroller family (MCU). The TC4x series fosters the trends of eMobility, advanced driver assists systems (ADAS), automotive electric-electronic (E/E) architectures, and affordable artificial intelligence (AI) applications.
The major players in the market are Velodyne LiDAR, Faro, Sick AG, Yellowscan, Hexagon, Teledyne Technologies Trimble, Riegl, Quantum Spatial, Continental AG, and Infineon Technologies AG.
Verified Market Research has segmented the Global Automotive LiDAR Market On the basis of Location, Vehicle Type, Technology, and Geography.
- Automotive LiDAR Market, By Location
- Bumper and grill
- Headlight and taillight
- Roof and upper pillars
- Automotive LiDAR Market, By Vehicle Type
- Battery Electric Vehicle (BEVs)
- Automotive LiDAR Market, By Technology
- Automotive LiDAR Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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