Automotive LiDAR Market - Estimated to Reach USD 4,135.2 Million in 2026
Posted: Oct 25, 2018
The global Automotive LiDAR market is anticipated to grow at a CAGR of more than 35% during the forecast period according to a new study published by Polaris Market Research.
The demand for LiDAR for automotive has increased over the years owing to increasing adoption ADAS solutions for increasing vehicle safety. A significant growth in the demand of LiDAR based application is expected from the increased number of autonomous vehicles in the market and improved performance of LiDAR sensors as compared to other sensors.
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Increasing efficiency and performance in terms of road and vehicle safety due to LiDAR sensors is expected to support the growth of the Automotive LiDAR market. Favourable government regulations, rising demand from emerging economies, and technological advancements collectively boost the growth of this market.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Automotive LiDAR Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC, Latin America, and Middle East & Africa regions. North America is further segmented into U.S., and Canada. Europe region covers the Automotive LiDAR market for Germany, UK, Italy, and France. Asia-Pacific region comprises of China, and Japan market.
Presently, North America dominates the Automotive LiDAR market which is characterized by technology advancement in the region and early adoption of both Advanced driver assistance systems and autonomous vehicle. Extensive implementation of ADAS technologies for increasing road safety are supporting the Automotive LiDAR market growth in this region. Also, European Union’s increased focus on implementing vehicle safety norms is responsible for the growth in adoption for LiDAR-based applications in ADAS. Ongoing trials of autonomous vehicles in multiple countries in the European region including Germany, France is also expected to enhance the LiDAR based ADAS applications ultimately resulting in growth of this Europe Automotive LiDAR market.
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Competitive Landscape and Key Vendors
The leading companies profiled in the Automotive LiDAR market report include Scans LLC, Velodyne LIDAR, Inc., Quanergy Systems, Inc., LeddarTech, First Sensor AG, Novariant (AgJunction), Delphi Technologies, Continental AG, Robert Bosch GmbH, and Denso Corporation.
About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.
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Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.