DUBLIN, April 11, 2019 /PRNewswire/ -- The "Automotive LiDAR Market to 2027 - Global Analysis and Forecasts by Type; Component; and Application" report has been added to ResearchAndMarkets.com's offering.
The global automotive LiDAR market accounted for US$ 415.1 Mn in 2018 and is expected to grow at a CAGR of 30.4% over the forecast period 2019-2027, to account for US$ 4,348.09 Mn in 2027.
The factors that are driving the growth of automotive LiDAR market include increased integration of technologies in automobiles and rising advancements in the automotive industry. Further, the increasing number of partnerships between automotive and semiconductor manufacturers is capitalizing the automotive LiDAR market which in turn is expected to supplement the growth of automotive LiDAR market across the world.
However, the high upfront cost of the vehicle owing to the integration of advanced sensors is expected to impede the growth of the automotive LiDAR market. Some of the leading players in the automotive LiDAR market are highly focusing on strategic market initiatives in order to enrich its product capabilities as well as to expand their geographical presence across the globe, which in turn is contributing for the growth of the automotive LiDAR market.
LIDAR technology has proved its reliability and accuracy throughout several thousands of implementations such as consumer electronics, automotive applications. To perform at its fullest, technology is built using unique and advanced components. The automakers globally are observing considerable demand for smart devices in their vehicles. This has led the automobile manufacturers to continuously focus on innovating, designing and developing autonomous cars which have already attracted a fair percentage of customers in major automotive manufacturing countries.
In the current scenario, the global players are setting self-driving vehicles on the road, which is successfully gaining high momentum across wide prospects such as suppliers, OEMs, technology companies, mobility providers, governments, regulatory bodies, and academic institutions. Moreover, more and more numbers of technology companies and automakers are showcasing their self-driving and autonomous vehicles. Also, many global players are working on autonomous driving technology. These continuous advancements in the automotive industry would raise the demand for LiDAR.
The global automotive LiDAR market on the basis of the application is categorized into the autonomous shuttle, robotaxis, and passenger cars. Passenger car segment undergoes substantial technological advancements year on year, owing to the changes in consumer interests, the emergence of new technologies, and governmental rules and regulation related to the reduction in emission and other factors. The trend of procurement of passenger cars is increasing at a decent rate over the years. The more the procurement of passenger cars, the more is the demand for LiDAR system to have hassle-free driving experience.
The rising demand for passenger cars across the globe is majorly attributed to the increasing disposable income among the populations in developed countries as well as developing countries. The trend of procurement of passenger cars is increasing at a rapid rate over the years and the trend is anticipated to continue in the future.
Some of the players present in automotive LiDAR market are Continental AG, Denso Corporation, Innoviz Technologies, Ltd., Luminar Technologies, Inc., Omron Corporation, Panasonic Corporation, Trilumina Corporation, Valeo SA, Velodyne LiDAR, Inc., and Xenomatix N.V. among others.
Key Topics Covered:
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1.2 Secondary Research
3.1.3 Primary Research
4. Automotive Lidar Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 Pest Analysis
5. Automotive Lidar Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Integration of Technologies In Automobiles
5.1.2 Rising Advancements In the Automotive Industry
5.2.1 Integration of Advanced Sensors Increases the Upfront Cost of Vehicle
5.3.1 Increasing Number of Partnerships Is Capitalizing the Market
5.4 Future Trends
5.4.1 Soaring Demand For Fully-Autonomous Car To Stimulate the Market Growth
5.5 Impact Analysis of Drivers & Restraints
6. Automotive Lidar - Global Market Analysis
6.1 Global Automotive Lidar Market Overview
6.2 Global Automotive Lidar Market Forecast and Analysis
6.3 Market Positioning/ Market Share
7. Global Automotive Lidar Market Analysis - by Type
7.2 Global Automotive Lidar Market Breakdown, by Type, 2018 & 2027
7.3 Solid State Lidar
7.4 Flash Lidar
8. Global Automotive Lidar Market Analysis - by Component
8.2 Global Automotive Lidar Market Breakdown, by Component, 2018 & 2027
8.5 Integrated Circuits
8.6 Optical Elements
9. Global Automotive Lidar Market Analysis - by Application
9.2 Global Automotive Lidar Market Breakdown, by Application, 2018 & 2027
9.3 Autonomous Shuttle
9.5 Passenger Cars
10. Automotive Lidar Market - Geographical Analysis
11. Industry Landscape
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. Company Profiles
- Continental AG
- Denso Corporation
- Innoviz Technologies, Ltd.
- Luminar Technologies, Inc.
- Omron Corporation
- Panasonic Corporation
- Velodyne Lidar
- Xenomatix N.V.
For more information about this report visit https://www.researchandmarkets.com/r/bk1df7
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