Automotive Light Detection and Ranging (LiDAR) is a survey system that uses pulsed laser lights to determine the distance between two vehicles. The distance is calculated by illuminating the target vehicle or object and using a sensor to measure the reflected pulse. In an automobile application, the LiDAR solution assists in the control of the vehicle's speed and braking system in response to sudden changes in traffic conditions. Radars and sonar were used for range detection in advanced vehicles prior to LiDAR. The benefits offered by LiDAR, such as the determination of real-time data and higher accuracy, have propelled its market growth over radar and sonar.
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AUTOMOTIVE LIDAR MARKET DYNAMICS
Rising safety awareness among vehicle users along with safety standards provided by regulatory bodies is a key driver of the automotive LiDAR market. In addition, the increasing adoption of autonomous and electric vehicles is expected to represent a stupendous growth in the application of advanced vehicle safety components such as the automotive LiDAR. Increasing focus on vehicles incorporated by ADAS and government initiatives over the last few years due to safety concerns is likely to boost demand for automotive LiDAR during the forecast period.
COVID 19 IMPACT ON AUTOMOTIVE LIDAR MARKET
Covid19, drastically affects the world supply chain and industrial sector growth. At the initial stages of the pandemic, the world experienced, ‘supply shocks’. China who plays a major role in the world’s supply chain was severely affected. There were disruptions to the availability of goods supplied from China. Supply of both finished and unfinished goods reduced. Day by day as the situation worsened, quarantines, social distance practices were imposed and nations begun instituting lockdowns. Following this, the supply chains experienced demand shocks. The shutdown of economic activities affected all the sectors. The automotive industry’s sluggish growth, in turn, affected the automotive LiDAR market.
AUTOMOTIVE LIDAR MARKET SEGMENTAL OVERVIEW
The report analyses the Automotive LiDAR market based on type, component, application, and geography.
AUTOMOTIVE LIDAR MARKET BY TYPE
By type, the global Automotive LiDAR market is segmented into mechanical and solid-state. Among this, mechanical LiDAR is expected to lead the market due to increasing demand for autonomous vehicles. It has been commonly used in autonomous vehicles due to its high accuracy and reliability.
AUTOMOTIVE LIDAR MARKET BY COMPONENT
The global automotive LiDAR market by component is classified into photo detectors, integrated circuits, laser, optical elements, and others. The laser segment continues to dominate the automotive LiDAR market in the forecast period. The laser generates pulses of energy. The majority of terrestrial LiDAR-based systems use near-infrared wavelengths. In LiDAR systems, fiber laser and laser diodes are widely used sources.
AUTOMOTIVE LIDAR BY APPLICATION
By application, the global automotive LiDAR market is segmented into autonomous, and semi-autonomous. . In autonomous vehicles, sensors are commonly used to monitor braking, speeding, and safety systems in response to changes in the external environment. The autonomous vehicle segment is expected to have the highest growth rate in the forecast era.
AUTOMOTIVE LIDAR MARKET BY GEOGRAPHY
Geographically, the Automotive LiDAR market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. North America dominated the automotive LiDAR market, owing to increased research activities in the region for the production of autonomous vehicles. Government policies that encourage the testing of autonomous vehicles, as well as government investments in research and development, have fueled market growth in the region.
AUTOMOTIVE LIDAR KEY PLAYERS
Some of the major players operating in this market include Continental AG (Germany), ZF Friedrichshafen AG (Germany), Delphi Automotive, PLC (U.K.), Infineon Technologies AG (Germany), Velodyne LiDAR, Inc. (U.S.), Texas Instruments, Inc. (U.S.), LeddarTech, Inc. (Canada), First Sensor AG (Germany), Quanergy Systems, Inc. (U.S.), and Innoviz Technologies, Ltd. (Israel).
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