Automotive Lidar Market Dynamics: Impact of Electric Vehicles on Lidar Adoption

 The global automotive LiDAR Market size was valued at USD 504.2 million in 2023 and is estimated to grow at a CAGR of 9.4% from 2024 to 2030. The automotive light detection and ranging (LiDAR) market is driven by the increasing adoption of autonomous and ADAS technologies, stricter safety regulations, technological advancements, and growing consumer demand for enhanced driving experiences. The rising adoption of autonomous and semi-autonomous vehicle technologies is a primary driver for the automotive LiDAR market. LiDAR sensors are crucial for the accurate perception and mapping of a vehicle's surroundings, which is essential for autonomous driving capabilities. Further, increased emphasis on vehicle safety and government regulations mandating advanced driver assistance systems (ADAS) is fostering the demand for automotive LiDAR systems.

Ongoing improvements in LiDAR technology, such as reduced cost, increased resolution, and enhanced performance, are making LiDAR systems more accessible and attractive for automotive applications. Growing consumer awareness and demand for safety features and autonomous driving capabilities are driving the adoption of LiDAR-equipped vehicles. Continuous research and development efforts are focused on improving the performance, reliability, and cost-effectiveness of LiDAR sensors to make them more viable for mainstream automotive applications.

Gather more insights about the market drivers, restrains and growth of the Global Automotive Lidar Market

Global Automotive Lidar Market Report Segmentation:

Technology Insights

The mechanical LiDAR segment led the market and accounted for 64.2% of the global revenue in 2023. The automotive LiDAR market is witnessing significant technological advancements, particularly in sensor capabilities. Mechanical LiDAR systems, known for their rotating components, provide high-resolution 3D mapping essential for autonomous vehicle navigation. However, these systems face challenges such as bulkiness and susceptibility to wear and tear, which can affect long-term reliability. Innovations in laser technology and signal processing are enhancing the performance of mechanical LiDAR, making them more competitive against solid-state alternatives. As manufacturers strive for improved accuracy and efficiency, mechanical LiDAR continues to play a vital role in the evolution of automotive sensing technologies.

Application Insights

The ADAS segment hold the highest market share of the global revenue in 2023. The growing consumer focus on vehicle safety is significantly influencing the ADAS segment of the automotive LiDAR market. As awareness of road safety issues increases, consumers are actively seeking vehicles equipped with advanced safety features. This shift in consumer behavior is prompting automakers to prioritize the integration of LiDAR technology into their ADAS offerings. Features such as lane-keeping assistance, pedestrian detection, and blind-spot monitoring are becoming essential selling points for new vehicles. As a result, the automotive industry is responding to this demand by enhancing the capabilities of ADAS through the incorporation of cutting-edge LiDAR solutions.

Propulsion Type Insights

The internal combustion engine (ICE) vehicle segment holds the highest market share of the global revenue in 2023. The increasing demand for advanced safety features is driving automakers to integrate LiDAR technology into internal combustion engine (ICE) vehicles, which have traditionally relied on conventional sensors. LiDAR provides superior detection capabilities, enabling functions such as collision avoidance and lane-keeping assistance, which are increasingly becoming standard in many ICE models. This shift is influenced by rising consumer expectations for enhanced safety and the need for ICE vehicles to stay competitive with electric vehicles, which are often seen as more technologically advanced. By incorporating LiDAR, ICE vehicles can deliver comparable safety and performance, making them more appealing to a safety-conscious market. This trend underscores the expanding role of LiDAR technology across all vehicle types, including ICE, electric, and autonomous vehicles.

Vehicle Type Insights

The passenger cars segment holds the highest market share of the global revenue in 2023. The growing popularity of advanced driver assistance systems (ADAS) and autonomous features in passenger cars is a major driver for the automotive LiDAR market. LiDAR sensors are essential for enabling features such as automatic emergency braking (AEB), adaptive cruise control (ACC), lane departure warning, and blind spot detection. As consumers increasingly prioritize safety and convenience, automakers are integrating LiDAR technology to enhance vehicle capabilities. This trend is further fueled by advancements in machine learning (ML) and artificial intelligence (AI), which improve the functionality of LiDAR systems in real-time decision-making. Consequently, the demand for LiDAR-equipped vehicles is expected to rise significantly, positioning LiDAR as a critical component in the future of automotive safety.

Browse through Grand View Research's Automotive & Transportation Industry Research Reports.

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Regional Insights

North America accounted to hold significant share in the market and accounted for a 34.9% share in 2023. The North America automotive LiDAR market is characterized by significant investments in autonomous vehicle technology and a strong presence of major LiDAR manufacturers. There's a growing focus on developing solid-state LiDAR solutions and integrating LiDAR with other sensing technologies. Partnerships between automotive OEMs, tech giants, and LiDAR startups are driving innovation and market growth. The region is also seeing increased testing and deployment of autonomous vehicles, particularly in the United States, which is fueling demand for advanced LiDAR systems.

Key Automotive LiDAR Company Insights

The competitive landscape of the automotive LiDAR market is dynamic and characterized by a mix of established players, innovative startups, and new entrants. Major automotive OEMs and technology companies are increasingly investing in the vertical integration of LiDAR technology, aiming to have more control over the supply chain and differentiate their offerings. Partnerships and collaborations between LiDAR suppliers, automotive OEMs, and technology companies are becoming more prevalent to drive the adoption and integration of LiDAR in the automotive industry. As the technology matures, differentiation through software capabilities, manufacturing scalability, and integration expertise is becoming increasingly important in automotive LiDAR market.

Key Automotive LiDAR Companies:

The following are the leading companies in the automotive LiDAR market. These companies collectively hold the largest market share and dictate industry trends.

  • Continental AG
  • Denso Corporation
  • Innoviz Technologies
  • LeddarTech Inc.
  • KUBOTA Corporation
  • Quanergy Solutions, Inc.
  • Robert Bosch GmbH
  • Teledyne Geospatial
  • Valeo
  • Velodyne LiDAR, Inc.

Order a free sample PDF of the Automotive Lidar Market Intelligence Study, published by Grand View Research.

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