The escalating number of on-road vehicles has provided the automotive industry with ample opportunities for innovation and development, and Light Detection and Ranging (LiDAR) system is the latest disruption in the ever evolving automotive industry. Currently, the industry is experiencing a surge in the demand for driver assistance technology. The automotive industry is integrating features such as adaptive cruise control, parking assistance, lane departure warning, automated emergency brakes, and blind spot detection in the vehicles, for enhanced safety features and improved driver’s experience.
Automotive application of LiDAR ensures better on-road safety of a vehicle, as it enables it to sense the surroundings at a greater range, with highly accurate data generation as compared to other object sensing components such as camera, radars, ultrasonic sensors and infrared sensors, and also enables the vehicle to map an automobile’s surroundings even in low light conditions. There are primarily two types of LiDARs prevalent in the global automotive LiDAR market, viz. mechanical and solid-state LiDARs. Furthermore, on the basis of application, automotive LiDARs are segmented according to the level of automation, viz. level 2 (partial automation), level 3 (conditional automation), level 4 (high automation) and level 5 (fully autonomous). Level 3 and Level 4 LiDARs are currently contributing to the global market, whereas other automation levels are still under development and testing phase.
The global automotive LiDAR market was estimated to be $65 million in the year 2016 and is expected to grow at a double digit CAGR in the time period of 2017 to 2027. This growth is driven by the increasing number of automated vehicles and an anticipated decrease in manufacturing price of LiDAR systems. Between the types of LiDARs, mechanical LiDAR dominates the market currently, owing to a large scale demand of this LiDAR for the purpose of testing of automated vehicle prototype. However, solid state LiDARs are expected to take over the dominating segment in the market owing to several disadvantages associated with mechanical LiDARs such as their bulkiness, fragility and higher cost, along with the various forms of challenges posed to the vehicle designer in the process of integration of the technology in the vehicles.
The level of automation is directly proportional to the number of LiDAR required. Lower levels of automation require single LiDARs to be integrated in a system, as lower amount of surrounding data is required. Accordingly, with the increasing level of automation, multiple LiDARs are required to meet the data requirements. Currently, LiDARs for level 3 and level 4 automation systems contribute a major share to the global automotive LiDAR market, whereas, level 2 and level 5 automation are still under development phase.
Europe is host to a number of autonomous vehicles original equipment manufacturers (OEMs) and major LiDARs manufacturers. As a result, Europe contributes a major share in the growth of automotive LiDAR market. The European players are expanding their businesses actively to get a strong hold on the market, by undertaking various business activities such as partnerships and collaborations with both local and foreign players.
BIS Automotive has conducted an extensive market research on ‘Global Automotive LiDAR Market, Analysis & Forecast- 2017 to 2026’. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints, and opportunities prevailing in the industry.
For further queries, please write to us at [email protected] or call us at: +1 650 228 0182.