What is the key driver of Global Automotive LIDAR Sensors Market?

As economies improve, people's lifestyles change drastically on a global scale. Take note of the shifts in the economy, particularly in developing nations like China, India, and Brazil. Increased global sales of passenger automobiles overall, particularly luxury vehicles, suggests that living and economic conditions have improved. A lot of families relocate to areas with higher incomes. Global sales of luxury cars have benefited from this.

Automotive LIDAR Sensors Market Size, Share, Growth Analysis, By Application(Semi-Autonomous Vehicle, Autonomous Vehicles), By Technology(Mechanical LiDAR, Solid-state LiDAR), By Range(Short- & Mid-range, Long-range), By Vehicle(Time of Flight and Frequency-Modulated-Continuous-Wave (FMCW)), By Type(Internal Combustion Engine (ICE), Electric & Hybrid), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Automotive LIDAR Sensors Market?

Global Automotive LIDAR Sensors Market size was valued at USD 555 million in 2022 and is poised to grow from USD 782 million in 2023 to USD 12147.64 million by 2031, growing at a CAGR of 40.9% in the forecast period (2024-2031).

Q: Who are the key vendors in the Global Automotive LIDAR Sensors Market?

The competitive environment of the Global Automotive LIDAR Sensors Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Competitive competitiveness in this industry is primarily based on sustainable competitive advantage through innovation. The market penetration of this technology is moderate, and many businesses are exploring its potential. This gives companies the opportunity to attract new markets, thereby promoting competition. The amount of marketing and advertising in this industry is high, while the amount of agency focus is moderate and high. 'Cepton Inc.', 'Continental AG', 'Denso Corp.', 'First Sensor AG', 'HELLA GmbH & Co. KGaA', 'Ibeo Automotive Systems GmbH', 'Infineon Technologies AG', 'Innoviz Technologies Ltd.', 'LeddarTech Inc.', 'Leishen Intelligent Systems Co. Ltd.', 'Lumibird Canada', 'Luminar Technologies Inc.', 'Ouster Inc.', 'Quanergy Systems Inc.', 'TetraVue Inc.', 'Valeo SA', 'Velodyne Lidar Inc.', 'ZF Friedrichshafen AG'.

Report ID: SQMIG10A2030 | Region: Global | Published Date: March, 2024
Pages: 173 | Tables: 138 | Figures: 76

Automotive LIDAR Sensors Market News

In May 2022, Quanergy Systems Inc., a provider of LiDAR sensors and intelligent 3D solutions, used its Optical Phased Array (OPA) technology to successfully detect objects at 250 meters. This provides a pathway to its S3 Series Advancing production of industry-leading LiDAR , scalable CMOS uses a silicon manufacturing process that increased the range introduced earlier in the year to 2.5 times that of 2021.

In November 2021, Continental AG upgraded its automated driving (AD) and environmental sensor portfolio with the introduction of the HFL110 solid-state 3D flash lidar sensor

In June 2021, Velodyne Lidar, Inc. will have 100,000 shares. introduced its next-generation Velabit sensor. These sensors have low cost, safety features and are designed for autonomous solutions. Velabit is a solid-state sensor that offers a horizontal FoV of 90° and a horizontal FoV of 70°.

Automotive LIDAR Sensors Market Report Snapshots

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Automotive LIDAR Sensors Market size was valued at USD 555 million in 2022 and is poised to grow from USD 782 million in 2023 to USD 12147.64 million by 2031, growing at a CAGR of 40.9% in the forecast period (2024-2031).

The competitive environment of the Automotive LIDAR Sensors Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Competitive competitiveness in this industry is primarily based on sustainable competitive advantage through innovation. The market penetration of this technology is moderate, and many businesses are exploring its potential. This gives companies the opportunity to attract new markets, thereby promoting competition. The amount of marketing and advertising in this industry is high, while the amount of agency focus is moderate and high. 'Cepton Inc.', 'Continental AG', 'Denso Corp.', 'First Sensor AG', 'HELLA GmbH & Co. KGaA', 'Ibeo Automotive Systems GmbH', 'Infineon Technologies AG', 'Innoviz Technologies Ltd.', 'LeddarTech Inc.', 'Leishen Intelligent Systems Co. Ltd.', 'Lumibird Canada', 'Luminar Technologies Inc.', 'Ouster Inc.', 'Quanergy Systems Inc.', 'TetraVue Inc.', 'Valeo SA', 'Velodyne Lidar Inc.', 'ZF Friedrichshafen AG'

As economies improve, people's lifestyles change drastically on a scale. Take note of the shifts in the economy, particularly in developing nations like China, India, and Brazil. Increased sales of passenger automobiles overall, particularly luxury vehicles, suggests that living and economic conditions have improved. A lot of families relocate to areas with higher incomes. sales of luxury cars have benefited from this.

Many driver assistance features, such as Lane Departure Warning (LDW), Blind Spot Detection (BSD), Forward Collision Warning System (FCWS), and Adaptive Cruise Control (ACC), have no legal or policy mandate. It turns out some premium them manufacturers offer these features to maintain their vehicles in the market, creating healthy competition among automakers. According to Primary Investments, the demand for luxury passenger cars will grow promisingly in the near future, especially in the Asia Pacific region. The demand for automotive lidar is expected to rise in tandem with the increase in demand for larger vehicles. Increasing demand for comfort and luxury, changing consumer preferences, increasing standard of living, safety concerns and increasing consumption are expected to drive the automotive LIDAR sensors market.

The Asia-Pacific region is expected to account for the largest share of the automotive LIDAR sensors market during the forecast period. The region includes emerging countries such as India and China, as well as developed countries such as South Korea and Japan. South Korea, India, Japan and China have been considered for this study. Asia-Pacific is expected to be the largest market by 2030 (ICE & EV).

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Automotive LIDAR Sensors Market News

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What is the market size of Automotive LIDAR Sensors Market?

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